PETRON CORP. said on Thursday that its refinery in Limay, Bataan was forced to go into an emergency shutdown after the strong earthquake that jolted Central Luzon and Metro Manila on April 22.
“As previously reported, the earthquake triggered the protective tripping of certain refinery units resulting in the emergency shutdown. This was followed by flaring of gases, which is an important safety measure in refinery facilities, due to the absence of an alternative power supply,” the company said in a statement.
“At the time of the emergency shutdown, the refinery was preparing for a regular total plant turnaround beginning May 1 for scheduled maintenance activities. The turnaround will allow us to perform regular maintenance and repair for all process units, as well as assess any possible damage caused by the earthquake,” the company added.
Petron is the country’s largest refiner and provides close to 40% of local fuel requirements through its Bataan refinery, 30 terminals, and at least 2,400 service stations nationwide.
For 2018, the company said its oil refinery, which is a 180,000-barrel-per-day facility, achieved a record 95% annual utilization rate as it further raised its production of high-value fuels and petrochemicals.
“We assure our customers that we have ample inventory to supply our domestic market requirements,” Petron said.
On April 22, Petron said earthquake triggered the protective tripping of some units at the refinery and the eventual plant shutdown, followed by the usual flaring of gases as required. Contrary to false information being spread, the company said there was no fire at the refinery.
On Thursday, shares in Petron slipped by 0.94% to close at P6.32 each. — Victor V. Saulon
