January 14, 2021 | 12:03 am Font Size
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PETRON Corp.âs additional investment of P3-billion in its Bataan refinery and its registration as an enterprise in the provinceâs freeport area are a big boost to the oil companyâs operations while easing its tax concerns, analysts said.
âPetronâs infusion of a considerable amount of money to improve its refinery operations after it secured approval from the freeport authority of Bataan signals its interest in revitalizing its operations and pursuing future economic gains,â said Cid L. Terosa, senior economist at the University of Asia and the Pacific (UA&P) School of Economics.
Published January 12, 2021, 6:30 AM
Leading oil firm Petron Corporation rescued the country’s only petroleum refining facility from near-shutdown after securing approval on its application as registered enterprise of the Authority of the Freeport Area of Bataan (AFAB).
The non-closure of its refinery business was confirmed by Petron in its disclosure to the Philippine Stock Exchange (PSE), hence, saving much-needed job for its employees and this will also entail additional investment for its host community in Bataan.
Photo credit: https://www.petron.com/
“As part of its commitment to AFAB, the company is expecting to undertake in the next five (5) years several capital investments amounting to nearly P3.0 billion to further improve the efficiency of the integrated operation of its Petron Bataan refinery,” the oil firm stated.
BusinessWorld
January 12, 2021 | 12:07 am
PETRON CORP. is infusing close to P3 billion to improve its refinery operations in Bataan, after securing approval from the Authority of the Freeport Area of Bataan (AFAB) to register in the province’s freeport area, the firm told the local bourse on Monday.
“As part of its commitment to AFAB, the Company is expecting to undertake in the next five (5) years several capital investments amounting to nearly P3 billion to further improve the efficiency of the integrated operation of its Petron Bataan Refinery,” Petron said in a statement.
In a regulatory filing, the oil company also confirmed that it was able to register as an enterprise of the Freeport Area of Bataan, and this would play a part in improving its financial survival.
Published December 22, 2020, 6:00 AM
Historically, the month of December tends to be strong for stock market investors. At the Philippine Stock Exchange (PSE), the so-called Santa Claus rally is underway and this is attributed to news about the various COVID-19 vaccines’ rollout ongoing in several countries as well as lower unemployment and improved manufacturing levels in the country during the fourth quarter.
There’s a saying that “all good things come in threes” which dates back to medieval times. In terms of symbolism, the number three is assigned a special role across many cultures and religions such as the Holy Trinity and the Three Wise Men in the Christian bible. Even in politics, “third time’s the charm” applies to candidates who succeed after three attempts, like US President-elect Joe Biden who sought his party’s nomination three times and made it on the third try.