San Miguel plots Malaysia refinery expansion
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by Land Asia Listings
- May 17, 2017
- News
- 0
Updated May 15, 2017 – 12:00am
http://www.philstar.com/
MANILA, Philippines – Diversified conglomerate San Miguel Corp. (SMC), is gearing up for expansion projects of its subsidiary Petron Corp. in Malaysia and the Philippines, its top official said.
“I’m going to Malaysia because of a government approval for a certain action on the expansion of the oil refinery,” Ang told reporters on Friday.
“We will expand the refinery there. It’s a big investment. The refinery will produce petrochemicals and aromatics. From 80,000 barrels per day, we will expand it to about 150,000 barrels per day,” Ang said.
In Malaysia, Petron operates the Port Dickson Refinery, seven storage facilities and about 580 service stations. The complex is equipped with a crude distillation unit, a naphtha hydro treating unit, two semi-regeneration reformer units and a kerosene hydro treating unit. It is further supported by amenities such as waste-water treatment facilities, steam generator, cooling water plant, flare and safety relieving unit, crude storage tanks, refined petroleum products storage tanks, as well as spheres for liquefied petroleum gas (LPG) storage.
For the Philippine refinery, Ang said the company is hoping to expand this to 270,000 barrels per day from 180,000 barrels per day at present.
The Petron Bataan Refinery is the country’s most advanced integrated oil refining and petrochemicals complex producing a full range of world-class petroleum products including gasoline, LPG, diesel, jet fuel, kerosene and petrochemical feedstock – benzene, toluene, mixed xylene and propylene.
In the first quarter of the year, Petron registered strong results, with a net income of P5.6 billion, double the P2.8 billion it posted for the same period last year.
Combined volumes from the Philippines and Malaysia grew three percent at 26.2 million barrels during the period.
“Domestic retail segment volumes grew six percent, with LPG and lubricants growing five percent and 16 percent, respectively. Petrochemical export volumes also more than doubled. Petron Malaysia’s commercial and lubricants sectors also posted double-digit growth. As a result, Petron’s total revenues rose 38 percent to P106.4 billion, and operating income surged 54 percent to P8.9 billion.
