Maharlika extends P15B credit line to Petron to boost crude oil supply

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Maharlika

MANILA, Philippines – The Maharlika Investment Corp. (MIC) has extended a P15-billion short-term revolving credit facility to Petron Corp. to help fund the expansion of its crude oil inventory amid ongoing volatility in global oil supply chain.

In a statement on Thursday, the country’s sovereign wealth fund manager said it offered the facility at prevailing interest rates, which Petron may use for the purchase and importation of crude oil, refined petroleum products and related working capital requirements.

READ: Maharlika eyes oil storage venture with PNOC to boost energy resilience

Maharlika extends P15B credit line to Petron to boost crude oil supply

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