Market share of top 3 oil firm shrink in past 5 years

MANILA, Philippines – The entry of new oil companies and the expansion of existing industry players in the past five years have eroded the market share of the country’s top three major oil firms, Department of Energy (DOE) data showed.

The three major oil players namely Petron Corp., Pilipinas Shell Petroleum Corp. and Chevron Phils. cornered 60.3 percent of total demand as of end-2015, while other industry players captured 39.7 percent of the market, latest DOE data showed.

Other oil players are PTT Philippine Corp. (PTTPC), Total Phils., Seaoil Corp., TWA, Phoenix Petroleum Philippines Inc., Liquigaz, Petronas, Prycegas, Micro Dragon, Unioil, Isla LPG Corp., Jetti, Eastern Petroleum Corp., Perdido, SL Harbour, Filoil Energy Co., Petrotrade Phils. Inc.,  Marubeni, JS Union, JS Phils Corp, South Pacific, and end users who imported directly most of their requirement.

Petron maintained its lead with a 30.4 percent market share, followed by Shell with 23 percent and Chevron with 6.9 percent.

Fourth is Seaoil with a 5.1 percent market share, followed by Phoenix with 4.7 percent and Unioil at sixth with 3.6 percent.

The 2015 data showed a stark difference compared with the DOE’s 2010 data.

In 2010, the three major oil companies got 77.2 percent market share of the total demand while other players cornered 22.8 percent.

The DOE data also showed a longer list of other oil companies being monitored by the agency, from just 14 as of end of 2010 to 22 at end-2015.

While the three major players have been continuing their respective retail expansion, smaller oil players have also been aggressively widening their reach across the country.

For one, Seaoil is looking to sign over 40 new company-owned stations and 60 franchised stations this year, adding to its over 400 gas stations.

Phoenix has been tapping the debt market to bankroll its aggressive retail station network expansion. From five stations in 2005, Phoenix’s retail station grew to 489 stations nationwide as of June 30, 2016.

Last year, PTT Philippines said it has set a P1-billion spending in the next five years to expand its service station network to 300.