Petron allots P15 billion for 2018 capex

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Petron Corp. is setting aside this year a capital expenditure of P15 billion to cover its network expansion and refinery improvement, company officials said on Tuesday, May 15.

Of the amount, P10 billion is for the Philippines while P5 billion for Malaysia, said Emmanuel E. Erana, Petron senior vice-president and chief finance officer.

“[For the Philippines] two-thirds is mostly network expansion. The remaining is [for the] refinery [improvement],” Mr. Erana told reporters after the company’s annual stockholders meeting at Valle Verde Country Club in Pasig City.

He said the capex for the year is about the same as the previous year. — Victor V. Saulon