MANILA, Philippines – Petron Corp. has already spent P15 billion in its efforts to relocate its oil depot outside Pandacan before 2016, Petron chairman and chief executive officer Ramon Ang said.
Ang said the oil firm has scaled down its operations at the Pandacan depot and is now using other facilities outside Manila.
"It’s a commitment, by 2016, we will move out (of Pandacan). We have already put up (facilities) in Rosario in Cavite, Navotas, Harbour Center, Limay and other places. We have spent around P15 billion for the transfer," he said.
Ang earlier said that the firm remains committed to the agreement made with Manila government and the Catholic Church to relocate move out of Pandacan.
Petron, the country’s biggest oil refinery, agreed to transfer its facilities to another location due to "economic and business reasons."
The company bought time from the court to stay at the Pandacan while it is looking for alternative sites.
According to Ang, Petron expects lowered costs from the relocation because vessels that deliver petroleum products to Pandacan from the Bataan refinery can carry only 1,000 tons due to Pasig river’s shallow water level.
The Pandacan oil depot supplies around half of the total fuel demand in the country and 100 percent of lubricant requirements.
It also supplies fuel to more than 1,800 retail stations in Regions 1 to 4, around 500 of which are in Metro Manila.