Taguig City, 13 September 2018 – In compliance with the directives of Energy Secretary and PNOC-Exploration Corporation (PNOC-EC) Chair Alfonso G. Cusi, the Corporation is facilitating the importation of more competitively priced petroleum products through its trading function.
Under the terms of the on-going process, Euro-IV diesel, in accordance with Philippine National Standards (PNS), will be secured at a lower price following a transparent competitive selection process. This is the Corporation’s contribution to the DOE’s efforts to provide consumers with additional options and protect the country’s vulnerable sectors, particularly transportation, amid rising inflation.
Earlier, the Department of Energy (DOE) outlined measures to arrest inflationary pressures from the energy sector.
Among said measures being pursued by the DOE is the Strategic Petroleum Reserve (SPR), whose framework and policy guidelines is currently being planned and developed.
The re-introduction of Euro-II diesel is a separate approach to the program being pursued by the PNOC-EC.
PNOC-EC assures the public of the announcement of the winning supplier and the arrangements for the distribution upon its selection. – Department of Energy, Public Affairs Office