News Post
Petron completes US $2 billion refinery upgrade
Petron Corp., the Philippines’ top oil refiner, has completed its biggest project yet —the $2-billion Refinery Master Plan 2 (RMP-2).
The other processing units of RMP-2 are set for start-up over the next few weeks.
With the upgrade, Petron said it would significantly increase production. Its gasoline production alone is projected to double from the current 18,000 barrels per day to 36,000 barrels per day.
Projects of this scale take about 60 months or five years to complete but the company was able to complete the project in just 44 months from inception to completion.
The upgrade also made Petron’s refinery one of the most advanced facilities in Asia-Pacific in terms of processing and energy efficiency, operational availability, and complexity.
It also allows the Petron Bataan Refinery to maximize production by converting all negative margin fuel oil into high-margin products such as gasoline, diesel, and petrochemicals.
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