能源技術Business News

PILIPINAS Shell Petroleum Corp. (PSPC) is setting aside P2 billion to P3 billion from this year’s P6-billion capital expenditure (capex) to finance the construction of a hydrogen manufacturing facility in its Batangas refinery.

Of the P6 billion, P2 billion will be allocated for retail business, P2 billion to P3 billion for manufacturing and the remaining amount will be spent for its supply chain. In 2018, the oil company recorded P4.1 billion in capex. PSPC President Cesar Romero said during Tuesday’s press briefing that the hydrogen optimization project will allow its refinery to improve flexibility of its crude intake and product slate.

“We are basically installing a hydrogen manufacturing unit because the availability of more hydrogen will allow us to process more advantage crude, more exotic crude.  It’s not primarily intended to be a main capacity, increasing option, but it will yield some improvements in capacity, as well. But the primary intention is to increase crude flexibility because you need hydrogen,” Romero said. The commissioning of the hydrogen facility is scheduled in the last quarter of 2020, with commercial operations in the first quarter of 2021.

The company said it will be more aggressive in looking for improvements and opportunities. Its P730-million bitumen production facility is considered its most significant investment last year.

“We have roughly 40 percent to 50 percent of the domestic market for bitumen. Now, we can supply the demand of both domestic and international fronts,” Romero said. Shell posted a net income of P5.1 billion in 2018. It also posted a 29-percent increase in its cash flow from operations last year. The company attributes the increase to its effective working capital management, allowing it to cover capex and dividend payments.

 

Source：https://businessmirror.com.ph/2019/05/08/pilipinas-shell-allots-p2-billion-p3-billion-to-build-hydrogen-facility-in-batangas-refinery/