Pilipinas Shell to Convert Tabangao Oil Refinery Into Import Terminal
08.17.2020 - NEWS

August 17, 2020 [Hydrocarbons Technology] – Royal Dutch Shell’s downstream oil refining and marketing unit Pilipinas Shell Petroleum (PSPC) has announced that it will permanently shut down its Tabangao Refinery in Batangas, the Philippines, and convert it to a full import terminal.

The company noted that the decision will help it to optimise its asset portfolio and boost its cost and supply chain competitiveness.

The move is also expected to boost the financial resilience of Pilipinas Shell due to the significant challenges posed by the Covid-19 pandemic in the global refining sector.

The Tabangao refinery started operations in 1962. It ceased operations in late May to help protect Pilipinas Shell from a further decline of refining margins, as well as to enable the company’s cash saving efforts.

Pilipinas Shell president and CEO Cesar Romero said: “The regional refining margins, which have been weak for some time due to the oil supply/demand imbalance in the region, have worsened due to demand destruction from the Covid crisis.

“As such, it is no longer economically viable for us to run the refinery. It is with a heavy heart that we announce the cessation of oil refining activities in Tabangao.”

According to the Shell subsidiary, the demand for fuel products has not returned to normal. Many businesses are closed or operating at low capacity while travel remains restricted because of the global lockdowns.


Click Here to Access Today a 5,550 Tank Terminal Database With a Pro Trial
5,550 terminals as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

Australia's Viva Energy Presses State to Approve LNG Import Terminal
08.05.2022 - NEWS
August 5, 2022 [Reuters] –  Viva Energy  on this Friday urged an Australian state panel ... Read More
Terminal Management System Market 2022 Global Industry
08.05.2022 - NEWS
August 5, 2022 [Digital Journal] – The Terminal Management System market has witnessed grow... Read More
Repair Works at Vopak Penjuru Terminal
08.05.2022 - NEWS
August 5, 2022 [Gac] – Until 30 October 2022, repair works are being carried out at Vopak P... Read More
Japan Govt Asks Mitsui, Mitsubishi to 'Think Positively' in Joining Sakhalin-2 Entity
08.05.2022 - NEWS
August 5, 2022 [Reuters] – Japan’s government has asked Mitsui & Co  and Mitsub... Read More