Petron Corp. has been chosen as one of the Malaysian government’s fuel suppliers, further strengthening its operations in the Southeast Asian country.
Petron president Ramon Ang said the company was picked out after joining the bidding to supply the Malaysian government’s fuel needs.
“We reached a major milestone when we were chosen to be one of the government’s fuel suppliers. This underscores our commitment to nation-building as well as the superior quality of our products. As the nation’s reliable fuel partner, we also continued to power industries essential to the country’s growth through our commercial business,” Ang said.
Ang is optimistic of Petron’s fuel business in Malaysia because the “government really allows you to maintain a certain margin.”
“Malaysian operations (are better), or more stable [business] for us,” he said.
Petron acquired Esso Malaysia’s Port Dickson refinery and fuel retail network in Malaysia in 2011. Petron since them has been investing to expand the operations in Malaysia.
The company aims to complete the $100 million diesel hydro-treater project of the Port Dickson Refinery by next year.
Petron initiated improvements in the Port Dickson Refinery, which has a capacity to refine 88,000 barrels day, to strengthen the refinery’s capability to produce fuels that meet or even exceed government standards.
Ang said the project would be completed next year to comply with the government regulations in Malaysia.
Petron also enhanced its supply chain and increased logistics capacities to ensure operational excellence in its Malaysian refinery at all times.
Aside from the Malaysia refinery, Petron owns the Philippines’ biggest oil refinery in Bataan with a capacity of 180,000 barrels a day. It supplies about 40 percent of the country’s fuel requirements.