Petron eyes expanding Malaysian refinery operations

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Metro Manila (CNN Philippines, January 2) — Oil giant Petron is planning to hike its production output in Malaysia.

Petron on Tuesday said it is reviewing the expansion of its Malaysian refinery.

"We confirm that the Company is reviewing the expansion of its Malaysian refinery by another 90,000 barrels a day estimated to cost about US$3.5 billion (P175 billion)," it stated in its Philippine Stock Exchange disclosure.

Petron Port Dickson Refinery in Malaysia has a capacity of 88,000 barrels per day. It produces a petroleum product, such as gasoline, diesel, lubricant, liquefied petroleum gas (LPG), industrial and commercial fuels, and aviation fuels.

Petron said it will issue another disclosure once the expansion plan pushes through.