Petron to Break Ground on $20B Refinery in 2018

Rappler, May 16, 2017

Petron Corporation, the largest oil refining and marketing company in the Philippines, has reportedly partnered with two foreign firms to construct a new 250,000 bpd oil refinery. The total investment is estimated somewhere between $15 and $20 billion and construction is expected to begin in early 2018. Petron officials have yet to reveal the location of the facility or the names of its partners because the project has yet to secure government approvals.

In addition to its planned greenfield project, Petron plans to spend another $2 billion to expand its plants in Bataan and Malaysia

Click here to read the full article from Rappler.

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