Unioil to Expand Philippine Network

Despite the financial crunch, Unioil Petroleum Philippines Inc. has committed to expand its retails network this year.

Unioil general manager Luisito Medina-Cue said they would open two more service and retail stations located at strategic in Quezon City and Caloocan.

He said the new stations form part of the company’s expansion program that also involves the upgrading of existing facilities in Metro Manila and nearby provinces. Read more

PTT Philippines Launches Ethanol-Blended Gasoline

PTT Philippines Corp. (PTTPC), the local arm of PTT Public Ltd. Co. of Thailand, launched last January 28, 2009 its new ethanol-blended gasoline, Performa 95+.

PTTPC president Siripong Phoungpaka, said they have invested about P6 million to be able to comply with the ethanol blend requirement under the biofuels law.

Under Republic Act 9367 or the Biofuels Act of 2006, oil companies are required to blend five percent ethanol in their gasoline products starting Feb. 6, 2009. By 2010, this blend will be increased to 10 percent. Read more

Unioil to Put Up More Retail Stations

Unioil Philippines Inc. is investing up to P160 million next year to put up at least eight new retail stations in Metro Manila and nearby provinces.

Chito Medina-Cue Jr. told reporters over the weekend that they have already identified the areas for the new gas networks.

Cue admitted that they will be more aggressive next year despite the financial crunch.

“Unioil constructed only two stations this year. But we will continue to invest more. Our customers want us to set up more stations,” he said. Read more

RP Government to Spend P49 B on Alternative Fuels Development

The government will spend about P49.1 billion for the Alternative Fuels Program next year, Sen. Juan Miguel Zubiri said yesterday.

He noted that bulk of the program will go to biofuels development at P25.6 billion which is 20.75 percent higher than the P21.2 billion allocated for the biofuels program this year.

The Biofuels Act, principally authored by Zubiri, mandates a two percent biodiesel blend and 10 percent ethanol blend for gasoline starting January next year. Read more

Oil Firms Roll Back Gasoline, Diesel Prices by P1

Dismissing the possibility of one-time big rollback, oil players have reduced their prices by P1 per liter on all their pump products.

The reduction was higher than anticipated as oil firms were expected to cut prices by only 50 centavos per liter for diesel.

Echoing the view of Energy Secretary Angelo Reyes, oil companies believed that the continuing drop in world oil prices would mean subsequent oil price rollbacks in the domestic front. Read more