(UPDATED) Petron Corporation is expecting to finish by the second half of 2022 the construction of a new power plant that will cater to the electricity requirements of its 180,000-barrel per day refinery in Limay, Bataan.
In a disclosure to the Philippine Stock Exchange, the oil giant said that the new facility will have a capacity of 44 megawatts (MW). The refinery has an existing 140MW plant, meaning its power plant complex would have a total capacity of 184MW once the new plant is completed.
Instead of more expensive fuel oil, Petron would use cheaper feedstock, such as petcoke. Meanwhile, the products previously used as refinery fuel will be converted to high-value products.
The country’s only remaining refinery temporarily closed from February 10 to May 22, but Petron continued to import finished petroleum products to serve petroleum demands during the shutdown. Opportunity maintenance works were also done during the said period.
Petron said the refinery startup pushed through on May 23, leading to the resumption of commercial operations on June 1.
Other investments in the refinery include the expansion of the polypropylene plant and initiatives to reduce production costs and improve crude processing flexibility.
The firm said the polypropylene plant expansion will increase its production capacity from 160,000 metric tons (MT) to 225,000MT yearly, and is expected to be completed by the end of 2021.
The Bataan refinery produces a range of white petroleum products, such as gasoline, diesel, kerosene, liquefied petroleum gas (LPG), jet fuel, and naphtha. It also produces petrochemical feedstocks like benzene, toluene, mixed xylene, and propylene.
Photo from Petron website.