Petron & Phoenix Willing to Sell Cheaper Russian Diesel

Two of the country's largest oil companies in the Philippines, Petron and Phoenix Petroleum have volunteered to sell cheaper diesel which the national government plans to import from Russia amid the rising prices of oil in the world market according to an announcement released to the media by MalacaƱang.


According to Presidential spokesperson Harry Roque, Petron president Ramon Ang and Phoenix Petroleum Holdings Inc. chairman Dennis Uy told him they are willing to help the government.



The Presidential spokesperson was quoted as saying "So it’s like at least two companies have voluntarily offered if we succeed in importing cheaper Russian diesel though Petron is no longer owned by the government,” Roque said in a press briefing in Bontoc, Mountain Province.

Spox Harry Roque also stated that the Secretary Alfonso Cusi of the Department of Energy confirmed to him last Monday night about the decision of the Philippine National Oil Company Exploration Corporation (PNOC EC) has already initiated steps so that we import cheaper diesel from Russia.

Roque also noted that although the DOE had imported oil from non-Organization of the Petroleum Exporting Countries (OPEC) before, it would be the first time that the country will get from Russia.

The Philippine government under the Duterte administration came out with the idea of importing petroleum products outside OPEC to build reserves and mitigate the impact of the oil price hikes in the world market. DOE Secretary Alfonso Cusi also added that more fuel sources will make the market more competitive and bring down the prices of petroleum products.

Source: PNA

Petron & Phoenix Willing to Sell Cheaper Russian Diesel Petron & Phoenix Willing to Sell Cheaper Russian Diesel Reviewed by Phil Newsome on May 30, 2018 Rating: 5
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