Petron calls for foreign investment to advance downstream goals

Philippine refiner Petron is seeking US$1 billion in foreign investment to support its downstream capital expenditure (capex) plans and is looking for a partner that can also offer it technical expertise, the company’s chairman, Ramon Ang, said. The news presents opportunities to companies with expertise in refinery upgrades, with Thailand’s state-owned PTT mentioned as a possible partner. (July 13, 2010)