Cusi OK with Petron refinery as part of Bataan Freeport

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Energy Sec. Alfonso Cusi sees no problem with the inclusion of Petron Corporation’s oil refinery in Limay, Bataan as part of the Freeport Area of Bataan (FAB).

Cusi pointed out, though, that the country’s largest oil firm should send his office a letter should it wish to signify such intention.

The secretary further indicated that the Department of Energy wants to help the Philippine Economic Zone Authority promote the positive impacts of its mandate.

Earlier this month, Petron President and CEO Ramon Ang announced the closure of the country’s last refinery standing due to taxation issues over its fuel products. He said, though, that the nearly 40-year old facility would reopen once economic conditions improve.

Ang had warned back in October that the country’s largest refinery would close “very soon” unless the government gives all oil player a level playing field.

Following the closure’s announcement, workers appealed to the Limay municipal government to help lobby for the reinfery’s inclusion in the FAB, which is based in neighboring Mariveles. Being a freeport, the FAB enjoys tax holidays.

In its disclosures to the Philippine Stock Exchange, Petron said it would be conducting maintenance activities on the refinery’s key supply units and assured that supply wouldn’t be disrupted.

 

Photo courtesy of Oil&Gas Journal/Petron.

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