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                    [ArticleID] => 374921
                    [Title] => Petron to benefit from PNOC-EDC offering
                    [Summary] => 



Philippine National Oil Co. (PNOC) is planning to use a portion of the proceeds from the PNOC-Energy Development Corp. initial public offering (IPO) to infuse additional equity to oil refiner Petron Corp., industry sources said.


They said PNOC could use up some $30 million or about P1.5 billion of the IPO proceeds to answer Petron’s call for more capital to expand its refinery operation. 


Petron will need $300 million for its refinery expansion. Of this total project cost, 70 percent would be raised through loan and 30 percent through equity.


                    [DatePublished] => 2006-12-14 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 237200
                    [Title] => Petron sets up P1-B retail arm to operate chain of service stations
                    [Summary] => Petron Corp., the country’s biggest oil refiner, has set up a P1-billion retail subsidiary to operate its company-owned service stations nationwide.


The Securities and Exchange Commission (SEC) has approved the creation of the new company, Petron Marketing Corp., a 100-percent subsidiary of Petron.


Through the new unit, Petron will start setting up service stations in high-traffic, high-visibility sites such as expressways and national roads, initially targeting 30 stations over a five-year period. 


                    [DatePublished] => 2004-02-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
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                    [ArticleID] => 180884
                    [Title] => Saudi Aramco assures RP of steady oil supply
                    [Summary] => Saudi Arabian Oil Co. (Saudi Aramco), the world’s largest oil supplier, affirmed its commitment to a steady supply of oil to the Philippines as it continues to invest and expand its operations in the country.


The Saudi-based oil firm has close ties with the Philippines through its partnership with Petron Corp., where it holds a 40-percent stake.


                    [DatePublished] => 2002-10-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
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SAUDI ARABIAN OIL CO

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            [0] => Array
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                    [ArticleID] => 374921
                    [Title] => Petron to benefit from PNOC-EDC offering
                    [Summary] => 



Philippine National Oil Co. (PNOC) is planning to use a portion of the proceeds from the PNOC-Energy Development Corp. initial public offering (IPO) to infuse additional equity to oil refiner Petron Corp., industry sources said.


They said PNOC could use up some $30 million or about P1.5 billion of the IPO proceeds to answer Petron’s call for more capital to expand its refinery operation. 


Petron will need $300 million for its refinery expansion. Of this total project cost, 70 percent would be raised through loan and 30 percent through equity.


                    [DatePublished] => 2006-12-14 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096364
                    [AuthorName] => Donnabelle L. Gatdula
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [1] => Array
                (
                    [ArticleID] => 237200
                    [Title] => Petron sets up P1-B retail arm to operate chain of service stations
                    [Summary] => Petron Corp., the country’s biggest oil refiner, has set up a P1-billion retail subsidiary to operate its company-owned service stations nationwide.


The Securities and Exchange Commission (SEC) has approved the creation of the new company, Petron Marketing Corp., a 100-percent subsidiary of Petron.


Through the new unit, Petron will start setting up service stations in high-traffic, high-visibility sites such as expressways and national roads, initially targeting 30 stations over a five-year period. 


                    [DatePublished] => 2004-02-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
                )

            [2] => Array
                (
                    [ArticleID] => 180884
                    [Title] => Saudi Aramco assures RP of steady oil supply
                    [Summary] => Saudi Arabian Oil Co. (Saudi Aramco), the world’s largest oil supplier, affirmed its commitment to a steady supply of oil to the Philippines as it continues to invest and expand its operations in the country.


The Saudi-based oil firm has close ties with the Philippines through its partnership with Petron Corp., where it holds a 40-percent stake.


                    [DatePublished] => 2002-10-22 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Headlines
                    [SectionUrl] => headlines
                    [URL] => 
                )

        )

)

abtest

Petron to benefit from PNOC-EDC offering

By Donnabelle L. Gatdula | December 14, 2006 - 12:00am

Philippine National Oil Co. (PNOC) is planning to use a portion of the proceeds from the PNOC-Energy Development Corp. initial public offering (IPO) to infuse additional equity to oil refiner Petron Corp.,...

Business

Petron sets up P1-B retail arm to operate chain of service stations

By Zinnia B. Dela Peña | February 1, 2004 - 12:00am

Petron Corp., the country’s biggest oil refiner, has set up a P1-billion retail subsidiary to operate its company-owned service stations nationwide. The Securities and Exchange Commission (SEC) has approved...

Business

Saudi Aramco assures RP of steady oil supply

October 22, 2002 - 12:00am

Saudi Arabian Oil Co. (Saudi Aramco), the world’s largest oil supplier, affirmed its commitment to a steady supply of oil to the Philippines as it continues to invest and expand its operations in the country. The...

Headlines