The Philippines National Power Corp. has awarded Petron Corp. (PCOR.PH) and the local unit of Royal Dutch Shell PLC (RDSB.LN) contracts valued at PHP669 million ($15.4 million) for the supply of diesel and fuel oil to the state-owned utility's small power utilities group.

The supply contracts are valued at PHP513 million and PHP155.9 million for Petron and Pilipinas Shell, respectively, based on offers made in a tender held March 7.

The two contracts involve the supply of 32,166 liters of diesel oil and 4,833 liters of fuel oil, the agency said on its website.

The agency had set a budget of PHP1.5 billion for the tender.

-By Rhea Sandique-Carlos, Dow Jones Newswires; 632-848-5051; rhea.sandique-carlos@dowjones.com