Petron Procures Ethanol from Leyte Agri Corp
August 6, 2008 by Tsikot
Petron Corp., the country’s largest oil refiner, has started the procurement of locally-produced ethanol from Leyte Agri Corp. (LAC).
In a disclosure to the Philippine Stock Exchange (PSE), the publicly-listed Petron said the purchase is consistent with its commitment to promote the use of indigenous alternative fuels.
Petron said they would use the fuel grade ethanol from LAC to blend with its E10 Premium gasoline.
The company purchased an initial 23,000 liters of ethanol from LAC which owns the first manufacturing plant in the country able to produce fuel grade ethanol.
“We strongly support the local production of ethanol as a gasoline additive since it will drive capital investments in rural areas, create more jobs and more importantly, it will lessen the country’s dependence on imported fuel,” Petron chairman Nicasio I. Alcantara said.
“The use of ethanol in gasoline will also have a positive impact on the environment since it is biodegradable and reduces harmful exhaust emissions.”
Petron launched its E10 Premium product last June in selected service stations in Metro Manila as part of its efforts to make available cheaper and more environment-friendly fuels for motorists.
E10 Premium is priced P2 per liter cheaper than its 93 octane gasoline counterpart.
Petron’s E10 Premium is a new specially formulated unleaded gasoline that meets and even exceeds the requirements of the Biofuels Act. It contains 10- percent fuel grade ethanol and 90-percent premium unleaded gasoline with enhanced fuel additive. This unique additive allows the removal of existing deposits, which results in improved power and fuel economy.
The Biofuels Act of 2006 mandates a five-percent ethanol blend in gasoline by 2009 and a 10-percent blend by 2011.
“The early introduction of our E10 Premium product, ahead of the government mandate, underscores our desire to bring the benefits of ethanol-blended gasoline to our customers and stakeholders as soon as possible,” Alcantara added.
To further promote the use of ethanol, Petron has entered into a memorandum of understanding with San Carlos Bioenergy Inc. (SCBI) in 2006 for the supply of ethanol.
Donnabelle Gatdula, Philippine Star
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