Petron to start Philippines propylene unit in Feb

31 January 2008 08:46  [Source: ICIS news]

SINGAPORE (ICIS news)--Petron Corp will start up a propylene unit at its Bataan refinery on 28 February, the Philippines-based refiner said on Thursday.

The propylene recovery unit would produce 140,000 tonnes/year of petrochemical-grade material from a fluid catalytic cracker (FCC), the company said in a statement.

With a conversion rate of 19,000 bbl/day, the FCC will convert fuel oil to high-value products like gasoline, diesel and liquefied petroleum gas (LPG), it added.

The new facilities are core components of Petron’s $300m (€201m) refinery master plan that includes a benzene, toluene and mixed xylene (BTX) unit slated for completion at year-end.

"These new refinery units will hopefully jumpstart the local petrochemical industry and will result in exponential benefits for other vital downstream manufacturing sectors, said Nicasio Alcantara, chairman and CEO of Petron.

"The strategic transformation will broaden our markets and gives us new revenue streams to help us achieve a higher growth trajectory," he added.

Petron’s petrochemical output will be used as raw material for industrial applications such as automobile parts, electrical appliances, furniture, packaging and coatings.

($1=€0.67)

By: Serene Cheong
+65 6780 4359

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