Pilipinas Shell Petroleum Corp. has decided to temporarily shut down its oil refinery in Batangas for one month starting mid-May as part of “cash conservation measures” due to the coronavirus pandemic (COVID-19).
Shell, the country’s second-largest oil company, disclosed to the Philippine Stock Exchange Tuesday the Enhanced Community Quarantine in Luzon and selected provinces nationwide slowed down economic activities and mobility, resulting in lower fuel demand. Shell's refinery in Tabangao, Batangas province has a capacity of 110,000 barrels per day.
“In response to the drastic decline in local product demand and the significant deterioration of regional refining margins brought about the COVID-19 pandemic, the company will temporarily shut down its refinery operations for approximately one month starting mid-May 2020,” Pilipinas Shell said.
