Does the Philippines need to ‘promote’ the refining sector of the downstream country’s refined petroleum industry?
One sector of the industry that has seen a reduction in the number of players is refining. Before deregulation, the country had three refiners (Petron, Shell, and Caltex). Caltex exited soon after deregulation, converting its refinery instead into an import facility. The oil refining industry is a capital intensive one, with a new ... continue reading