Manila’s Petron Corp to expand refinery

Top Philippine oil refiner Petron Corp plans to expand its refinery in the next four to five years, and will raise funding for the $600-$700 million project, the company president said on Friday.

“Petron Corp will be spending between $600-$700 million for oil refinery expansion over the next 4-5 years”, Eric Recto told Reuters.

Recto said the company had earmarked 15 billion pesos ($325 million) for its spending budget this year.

http://ph.news.yahoo.com/rtrs/20100305/tbs-petron-expansion-7318940.html

 

Category: ResourceAsia