Petron gets regulatory approval for biofuels venture

January 5, 2023 |

In the Philippines, BusinessWorld reported that Petron Corp. has secured regulatory approval on its planned biofuels venture. In a regulatory filing, Petron said the Securities and Exchange Commission (SEC) approved an amendment to the company’s articles of incorporation that will allow it to construct and operate a coco-methyl ester plant and secure relevant permits for the project. The firm also said the SEC approval will amend the company’s primary purpose under its second article of incorporation, which will allow the inclusion of biofuels in its business. In August, Petron received the approval of its board of directors to include biofuels in the company’s portfolio, while its stockholders approved the proposed amendment in October last year, according to the report.

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Category: Fuels

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