+ Follow SAUDI ARABIAN OIL CO Tag
SAUDI ARABIAN OIL CO
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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 Petrons 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 countrys 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 worlds 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] =>
)
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)
abtest
October 22, 2002 - 12:00am