The Petron Bataan Refinery (PBR), the sole refinery in the country, is the Freeport Area of Bataan’s (FAB) largest Expansion Area, spanning a 238-hectare refinery complex nestled in the town of Limay.
Boasting a crude oil distillation capacity of 180,000 barrels per day (bpd), Petron processes a wide range of petroleum products, including gasoline, diesel, LPG, jet fuel, kerosene, and petrochemicals. Operating under Petron Corporation (PCOR), the Philippines’ largest oil company, PBR plays a vital role, meeting nearly 40 percent of the country’s fuel demands.
On January 2021, the Authority of the Freeport Area of Bataan (AFAB) announced the approval of the application of PBR as one of the registered enterprises of the Freeport, making it the 12th FAB Expansion Area (FEA). Simultaneously, Petron Corporation was likewise registered as a FAB Registered Enterprise (FRE).
This development was indeed a catalyst for progress, for after registering under the AFAB, Petron committed improvements to the refinery operations, investing close to P3 billion and opening hundreds of employment opportunities for the local workforce.
The approval of the firm’s application by the AFAB benefited the company through tax perks while ensuring that the operations of the refinery continue, thus not only helping with the country’s fuel needs but also continuing its economic contribution to its host community of Limay.
Testament to this, PCOR successfully posted a consolidated net income of P6.7 billion in 2022, a 9 percent increase from the recorded P6.1 billion in 2021, despite navigating a volatile industry environment. Its President and Chief Executive Officer, Ramon S. Ang, is among the wealthiest Filipinos on Forbes Magazine’s list for 2022.
The refinery’s success is a shining example of the enduring spirit of progress and resilience, making it truly one of FAB’s best.