Petron expanding oil refineries in Malaysia, Philippines


Petron Malaysia's share price has rebounded in recent days

KUALA LUMPUR: Philippines's Petron Corp. is expanding its oil refineries in Malaysia and the Philippines to increase efficiency levels and production, a news report said.

“Expansion of oil refinery in Malaysia is a big investment… The refinery will be expanded to produce petrochemicals and aromatics from 80,000 to 150,000 barrels a day,” Petron president and chief operating officer Ramon Ang was quoted saying by the Manila Standard.

Recall that Petron acquired Esso Malaysia’s Port Dickson refinery and fuel retail network in Malaysia in 2011.

“Here [in the Philippines], we will also expand from 180,000 [barrels per day] to 270,000 [barrels per day],” Ang said.

Petron owns an oil refinery in Bataan province with a capacity of 180,000 barrels a day.

The company started full commercial operations of the US$2-billion upgraded refinery in 2016, enabling the company to produce more high-margin fuels and petrochemicals.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Business News

Wall St drops as strong inflation data fuels rate hike bets
SC approves Yenher's plan to list on Main Board
Banks: Repayment aid continues to be made available
Malayan Cement buys YTL's cement biz for RM5.16b
Teladan Setia posts net profit of RM7.1mil in 1Q
Taiwan stock crash shows world dangers of too much leverage
Philippine cenbank holds rates at record low to support pandemic-hit economy
Kerjaya Prospek announces boardroom changes after takeover for E&O
Private equity firm to buy UDG Healthcare in US$3.7b deal
Zafrul: Keeping economy open during MCO 3.0 helps protect vulnerable, businesses

Stories You'll Enjoy


Vouchers