I n 2015, San Miguel Corporation’s consolidated sales revenues amounted to P673.9 billion, 13% lower than 2014, reflecting the effect of lower crude oil prices on Petron Corporation’s revenues. Lower volumes and revenues from SMC Global Power also contributed to the decline, mainly due to the scheduled shutdown of the Malampaya gas facilities, the main power source of the Ilijan power plant, and the scheduled major maintenance of the Ilijan and Sual power plants. SMC’s core businesses of beverage, food and packaging continued to contribute higher revenues compared to 2014