Philippines’ Petron plans to complete refinery upgrade

By the fourth quarter of 2014, Philippine oil refiner Petron Corp. plans to complete its USD2 billion refinery master plan. Currently, the project is nearly 80% complete. The project will upgrade a 180,000 barrel-per-day refinery of the firm in Limay, Bataan.
Following the refinery upgrade, Petron will be the only oil company in the country capable of locally producing fuels addressing the more stringent and environmentally friendly Euro-4 standard.
According to the firm, moving away from the production of low-value fuel oil and converting it to high-value gasoline, diesel and petrochemicals instead will improve its margins.
Petron’s refinery upgrade, once completed in 2014, will have capacity to produce petroleum coke that might be used as fuel for the new cogeneration power plant for the refinery.
(August 14, 2013)