Released December 16, 2020 | MANILA, PHILIPPINES
en
Petron Corporation (PCOR), the sole refiner in the Philippines, will temporarily shut down its 180,000-barrel-per-day Limay Bataan Refinery in mid-January 2021.
Citing an uneven playing field between oil importers and refiners, mainly due to multiple taxation by the Philippine government, PCOR has assured the public and its investors that the shutdown will be temporary, and that the refinery would resume commercial operations if and when the economy improves. The only other Philippine refiner, Pilipinas Shell Petroleum Corporation (PSPC), permanently shut its doors in mid-August due to weak fuel demand over the last seven months.
PCOR is calling it an "economic shutdown" and will conduct maintenance activities on its key processing units. The company says there will be no supply disruption, given its healthy inventory and the replenishment of supply through the importation of finished products.
Industrial Info is tracking more than $3 billion worth of projects at the PCOR refinery. Click here for a list, and see map below.
Citing an uneven playing field between oil importers and refiners, mainly due to multiple taxation by the Philippine government, PCOR has assured the public and its investors that the shutdown will be temporary, and that the refinery would resume commercial operations if and when the economy improves. The only other Philippine refiner, Pilipinas Shell Petroleum Corporation (PSPC), permanently shut its doors in mid-August due to weak fuel demand over the last seven months.
PCOR is calling it an "economic shutdown" and will conduct maintenance activities on its key processing units. The company says there will be no supply disruption, given its healthy inventory and the replenishment of supply through the importation of finished products.
Industrial Info is tracking more than $3 billion worth of projects at the PCOR refinery. Click here for a list, and see map below.
