Pilipinas Shell obtains P9B loan from BPI
Oil refining and distriburion firm Pilipinas Shell Petroleum Corp. has inked a medium-term loan agreement with Bank of the Philippine Islands amounting to P9 billion
The money will be used to refinance existing loans.
Pilipinas Shell owns the country’s second biggest oil refinery with a capacity of 110,000 barrels per day in Batangas.
It partnered with QEV Philippines, a joint venture between Filipino and Spanish businessmen Endika Aboitiz and Enrique Banuelos, to put up the first electric vehicle (EV) fast charging infrastructure in the country.