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Petron Expected to Close Bataan Refinery Next Month

12/16/2020

Petron of the Philippines recently announced that it is planning to temporarily shut in its long running 180,000 barrel per day Bataan refinery in January. The company cited weak margins as the primary reason, but did not give a restart date.

The closing of this refinery would leave the Philippines with zero refining capacity since Shell shut in its 110,000 Batangas refinery back in August. Petron has stated that despite this closure, fuel supply would continue with imports that have proven to be more inexpensive to purchase rather than actually process domestically. The Philippines is already a net importer of aviation fuel and gasoline, and this temporary closure of all refining capacity would make the country even more dependent on exporters like South Korea and China.