No Country for Oil Refiners: Philippine Plants Shut on Weak Demand
- Petron, Shell have temporarily shut both refineries in country
- Duterte is starting to reopen economy after mid-March lockdown
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The Philippines has been left temporarily without any operating oil refineries as one of the world’s longest lockdowns eviscerates demand.
Petron Corp., the nation’s largest oil company, said Tuesday its 180,000 barrel-a-day refinery has been shut since May 5 for maintenance while fuel demand is low. Royal Dutch Shell Plc said the nation’s only other refinery remains temporarily shut after it took it down earlier this month when consumption dropped.