Petron to ...

Malaysian business segment has been yielding very buoyant financial turnout for Petron, with him asserting that “when the asset was acquired (in 2012), it had EBITDA of just US$20 million, but for 2017, we will likely end at $270 million.”

Ang said Petron’s Malaysian foray was a “highly favorable investment” with the company now cemented as number three player in that market, next to state-owned Petronas and multinational giant Shell.

The oil firm’s encroachment in the Malaysian petroleum market was concretized via 550 gasoline stations that it had rebranded following acquisition from Exxon Mobil.

It also offers its Gasul liquefied petroleum gas (LPG) to Malaysian households, while at its stations, it provides roughly the same amenities as its retail networks in the Philippines, including its convenience store “Treats.”

The Malaysian investment will run parallel to the 90,000 barrels per stream day expansion of the company’s Limay refinery that is also anticipated commanding investment of $1.5 billion.

The Limay refining facility currently has 180,000 barrels per day capacity, and with what is targeted as ‘bottlenecking-anchored expansion,’ the company targets higher yield of petrochemical products.

Over the longer term, Petron is penciling in additional investment of $3.5 billion on added facet of refinery expansion that could shore up Limay’s capacity to 360,000 barrels per day at project’s completion.