December 23, 2020 | 12:02 am Font Size
Energy Secretary Alfonso G. Cusi
THE Department of Energy (DoE) respects Petron Corp.âs move to shut down its oil refinery in Limay, Bataan as it is a business decision on the firmâs part, the agencyâs top official said on Monday.
âThat closure is a business decision by Petron. That, we respect because if they see that there is a better way to commercially operate,
gagawin nila iyon (they will do that),â DoE Secretary Alfonso G. Cusi said in a press briefing.
His statement comes after Petron announced earlier this month that it would shutter its 180,000-barrel-per-day crude oil refinery, the countryâs remaining refining facility after a rival closed its own.
THE Department of Energy (DoE) sees no problem in making Petron Corp.’s refinery in Limay, Bataan part of the Freeport Area of Bataan, the DoE chief said on Tuesday.
Energy Secretary Alfonso Cusi said Petron should send a letter to his office signifying its intention to make its refinery an economic zone.
“Well, sa atin naman (on our part), we want PEZA (Philippine Economic Zone Authority) zone to flourish in the country…It’s really a positive impact…we want to promote that,” said Cusi.
Earlier, Petron said in a disclosure it would suspend operations at the country’s sole oil refinery in the second half of January next year “to minimize losses in view of weak refining margins.”
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Metro Manila (CNN Philippines, December 21) The Department of Agriculture and the Bases Conversion and Development Authority signed an agreement for the development of the agro-industrial business corridor in New Clark City.
The DA said the deal was signed on Dec. 18 and will have an initial funding of ₱285 million. This will be used to start phase 1 of the deal, which is the establishment of the National Seed Technology Park.
“We envision NSTP to be the core base for the country’s modern crop industry, one that will take us one step towards industrialization and modernization of the agriculture industry,” Agriculture Secretary William Dar said in a statement on Sunday.
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