Caltex complies with govt oil marking order

ONE of the country’s biggest oil companies has complied with the government’s fuel marking requirement aimed at curbing rampant oil smuggling in the country to plug loopholes in revenue collections that cost the government some P40 billion yearly, according to the Bureau of Customs (BoC).

Teddy Raval, Customs deputy commissioner for enforcement and head of the fuel marking program, disclosed over the weekend that Chevron Philippines Inc., also known as Caltex Philippines, was the first among the so-called “Big 3” oil companies to have its oil products marked as mandated by law.