Supreme Court Upholds Petron's Lease Renewal Victory Against PNOC

Petron Corporation, led by billionaire Ramon S. Ang, has secured a decisive win from the Supreme Court in its protracted lease renewal dispute with the Philippine National Oil Co. (PNOC). Following a July 2, 2025 resolution, the High Court denied PNOC's second motion for reconsideration, thereby affirming the ruling initially issued on November 25, 2024.

In a statement filed with the Philippine Stock Exchange, Petron confirmed the Court's finality, noting that "the Supreme Court reiterated that no further pleadings or motions will be entertained."

This legal contention dates back to 2016, when Petron sought to extend leases for several bulk plants and service stations set to expire in 2018. The process was complicated by PNOC's objections to the automatic renewal clause embedded in the contracts. PNOC demanded reappraisals of improvements made by Petron, despite lease terms allowing Petron to retain ownership of such enhancements.

Additionally, PNOC required Petron to submit remediation plans and threatened eviction of sites to accommodate alternative operators if the automatic renewal clause was not waived. The Supreme Court's ruling effectively resolves these disputes in favor of Petron, allowing the company to continue operating its leased facilities under existing terms without disruption.