Petron Corp. will start operating its $300 million catalytic cracker and recovery unit this month.

The two petrochemical feedstock facilities -Petro Fluidized Catalytic Cracker (PetroFCC) and a Propylene Recovery Unit (PRU), will enable the company to earn more from high value products.

The two plants will enable Petron to refine more fuel oil to liquefied petroleum gas (LPG), gasoline and diesel and extract petrochemical feedstock propylene.

Petron president Kamal M. Al Yahya said that the white products (refined oil) will enable Petron to broaden its market, hike sales and grow faster.

A BTX unit that can refine aromatics like Benzene, Toluene will be completed by yearend.

The propylene feedstock will be exported to the regional market including Thailand and China.

Petron has been producing mixed xylene since 2000 and selling it to Korea, Thailand and LChina.

PetroFCC can process 19,000 barrel per day which will help increase operating efficiencies at the Bataan refinery.

Nicasio I. Alcantara Petron chairman said that the new refinery unit will encourage other companies to invest in this business that would benefit the local petrochemical industry.

"These new refinery units will hopefully jumpstart the local petrochemical industry and will result in exponential benefits for other vital downstream manufacturing sectors," Alcantara said.

Petron’s petrochemical feedstock units represent the company’s 2nd major investment in three years at its 180,000 barrel per day Bataan Refinery. This will be used as a raw material for various industrial applications including automobile parts, electrical appliances, furniture, food packaging, PET bottles, suitcases, solvents, surface coatings etc.

"We are currently studying other options to further enhance our Bataan refinery and consequently, add more value for our shareholders," Alcantara concluded.