Caltex to convert Batangas refinery into product import terminal

Oct. 15, 2003
ChevronTexaco Corp. reported that its subsidiary Caltex (Philippines) Inc. is planning to spend $13.6 million to convert its 72,000 b/d Batangas oil refinery in the Philippines into a world-class, finished products import terminal.

By OGJ editors

HOUSTON, Oct. 15 -- ChevronTexaco Corp. reported that its subsidiary Caltex (Philippines) Inc. is planning to spend $13.6 million to convert its 72,000 b/d Batangas oil refinery in the Philippines into a world-class, finished products import terminal.

The Batangas terminal will have a storage capacity of 2.7 million bbl. The new regional supply and distribution hub would import 100% of Caltex's products for distribution throughout the Philippines, ChevronTexaco said.

ChevronTexaco said that market overcapacity, which has increased competition and depressed refining margins, spurred the modifications. It expects the
terminal to be operational by the fourth quarter.