Petron Corp., led by bilyonaryo Ramon S. Ang, aims to complete its own coco-methyl ester (CME) plant in Limay, Bataan in the next two years, allowing the company to produce its own CME and cut reliance on suppliers.
This move is expected to result in higher margins for diesel.
According to Ang, the plant has already started, with a capacity of 180,000 tons per year. This capacity can handle up to five percent of the future requirement, with only two percent currently in place
The plant will provide reliable CME supply, as mandated by the Biofuels Act of 2006, which requires all liquid fuels for engines and motors to contain biofuels.
Currently, the blend stands at two percent coco-methyl ester for diesel and 10 percent ethanol in gasoline.
Petron owns an existing 180,000 barrels per day oil refinery in Limay, Bataan.