LEADING oil refining and marketing company Petron Corp. assured
that its fuel prices and supply will remain stable despite the shutdown of its oil depot in Pandacan.
Petron chairman and chief executive officer Ramon Ang said they have been preparing for a transfer following a commitment the company made in 2010 to the city government of Manila and a group of priests led by then Archbishop Gaudencio Cardinal Rosales to draw up a business plan and establish alternative sites for its Pandacan fuel storage operations.
“We made a commitment to stop our operations and we are ready. We have identified several alternative sites in Luzon to absorb our volumes in Pandacan,” Ang said.
He added that the public can be assured of a continuous and reliable supply of fuel to Metro Manila and nearby provinces during the transition.
The Supreme Court recently ordered the Pandacan oil depot shut down after it ruled as constitutional Manila City Ordinance 8187 which reclassified Pandacan into a heavy industry zone.
It also affirmed its 2009 decision which upholds the validity of City Ordinance No. 8027 reclassifying the district into a commercial zone.
Petron was the first company to support calls to cease operations at the Pandacan Terminal. Even without the SC decision, Petron had already affirmed that it was committed to cease operations in Pandacan by 2016.
Ang said the move makes good business sense as it coincides with the growth in demand for petroleum products outside Metro Manila and brings supply points closer to emerging demand centers and Petron’s growing number of retail stations.
Petron has the most extensive distribution network in the oil industry with over 30 terminals nationwide, 13 in Luzon alone.
It also has the widest retail network with around 2,200 service stations, more than the combined network of two of its biggest competitors, Pilipinas Shell and Chevron.