The Department of Energy (DOE) is on close watch regarding Petron Corporation’s plan to close its refinery in Limay, Bataan.
While the DOE has yet to receive any formal notice from the oil giant, Energy Sec. Alfonso Cusi said that his department is looking into the taxation concerns it raised in coordination with the Department of Finance.
“We are also evaluating how a closure scenario would impact pricing, as well as the country’s energy security. We affirm to be always with our stakeholders in finding solutions to whatever hurdles the industry is facing,” Cusi said.
“But whatever business measures Petron will arrive at in the course of its discussion with the concerned parties, we at the DOE will respect the management’s decision,” he added.
