Petron considering building a second refinery

Petron Corp., the country’s largest oil refiner, is looking at the feasibility of constructing a second facility in Bataan to ensure the country’s security of oil supply. Petron Chairman Nicasio Alcantara said the company would still compare the refinery’s viability with the one being planned in Mindanao. If plans push through, the new refinery will be Petron’s second oil refinery and the country’s third. Petron’s refinery in Bataan has a capacity of 180,000 barrels of oil per day, with an average utilization rate of 70% to 75%. (July 28, 2006)