Shell’s Philippines unit will suspend refining operations at its 110,000-bpd refinery in the country for a month starting in the middle of May, due to the dramatic plunge in fuel demand and the erosion of refining margins in the COVID-19 pandemic. “In response to the drastic decline in local product demand and the significant deterioration of regional refining margins brought about the COVID-19 pandemic, the company will temporarily shut down its refinery operations for approximately one month starting mid-May 2020,” Pilipinas Shell Petroleum Corporation said in a statement carried by Reuters.
