Petron to start operations of two feedstock facilities in Feb
Oil giant Petron Corp. said Thursday it will start operating two petrochemical feedstock facilities at its refinery in Bataan province on February 28.
"The two units, scheduled to start operating within February, is part of the company’s Refinery Master Plan which will enable it to further diversify its business and sustain its growth momentum," Petron said in a statement.
The company said one of the facilities, a petro fluidized catalytic cracker, converts fuel oil to more high-value products like gasoline and diesel, and extracts petrochemical feedstock propylene. The propylene stream is then purified in a recovery facility that produces petrochemical grade propylene.
The petro cracker has a conversion capacity of 19,000 barrels a day while the propylene recovery unit can produce 140,000 metric tons of propylene yearly.
The two facilities are core components of the company’s initial $300-million refinery master plan, which also includes a BTX unit that can produce aromatics. The BTX facility is slated for completion by 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," Petron chairman and chief executive officer Nicasio Alcantara said.
Petron’s petrochemical feedstock will be used as raw material for various industrial products including automobile parts, electrical appliances, furniture and food packaging, among others.
Reference: www.abs-cbnnews.com
