MANILA – The Department of Energy (DOE) said it will respect the decision of Petron Corporation’s management should it pursue its plans to shut down its refinery in Bataan.
In a statement Tuesday, DOE Secretary Alfonso Cusi said the department has yet to receive a notification from Petron about its plan to permanently close its refinery in Limay, Bataan.
On Tuesday, Petron Corporation president and chief executive officer Ramon Ang said the company finds refinery business as “very difficult” due to the pandemic and an uneven playing field against importers in terms of taxes.
“Based on news reports, the company is still in the middle of dialogues with the government regarding tax issues. We at the DOE are looking into the taxation concerns raised in coordination with the Department of Finance,” Cusi said.
He added the DOE will evaluate how the closure of refineries will impact local prices, as well as the country’s energy security.
Last August, Shell announced it would shut down its oil refinery in Batangas, leaving Petron as the lone refinery in the country.
“We will closely monitor the developments as we affirm to be always with our stakeholders in finding solutions to whatever hurdles the industry is facing. 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,” Cusi said. (PNA)
