Manila: Petron Corp, part of San Miguel Corp, will invest up to $2bn in Malaysia in the coming 10 years, its chairman and chief executive Ramon Ang said over the weekend.
“We have a very stable operation in Malaysia. In Malaysia, there is a guarantee on return on investment. So even if the price of oil goes up or down, you still have a guaranteed return,” said Ang, who is also president and chief operating officer of San Miguel.
Petron operates Petron Malaysia Refining & Marketing, Petron Fuel International and Petron Oil in Malaysia having taken over various assets from ExxonMobil nearly two years ago.
Petron is currently expanding and rebranding retail stations and upgrading the 88,000 barrel-per-day Port Dickson refinery in Malaysia. [04/11/13]