3 small players tie up to cross-market their alternative fuel products
The Philippine Star
06/20/2006
Three of the country’s major independent oil players-Eastern Petroleum Corp., Flying V and Seaoil Philippines – formed yesterday a joint venture to intensify efforts to promote and cross-market their alternative fuel products.
In a press conference, Eastern Petroleum Corp. (EPC) chairman Fernando Martinez, who is also the chairman of the Independent Philippine Petroleum Companies Association (IPPCA), said the initiative – dubbed as "Sugod-Karga na, mga Kapatid" – is aimed at integrating and broadening the choice of new, cleaner energy to the motorists now reeling from successive oil price increases.
"The uniting of the three oil players pools almost 300 stations nationwide as outlets for the three alternative fuel products, thus broadening each other’s offerings while making them available to more motorists throughout the country," Martinez said.
EPC is pushing for the use of autogas or liquefied propane gas (LPG) for the transport sector particularly in taxi fleets.
Flying V, on the other hand, is more into the promotion of coco-methyl ester blend on diesel while Seaoil is strongly supporting the use of ethanol as gasoline additive blend.
Martinez said EPC is planning to put up 20 auto LPG gas refilling stations this year.
By next month, he said they would be putting up National Conversion Center in Pasig that could convert an average of 100 vehicles per day into gas-powered vehicles. LPG for transport, he said, has been widely accepted in Europe, South Korea and Japan for being economical, cost-efficient and environment-friendly fuels.
According to Martinez, EPC is now in the process of tapping funding institutions like the Development Bank of the Philippines (DBP) to finance this project.
Seaoil president Glenn Yu said ethanol-blended gasoline, on the other hand, has been developed from sugarcane and is seen to reduce toxic gas emission by 22 percent.
Flying V chairman and CEO Ramon Villavicencio said at five percent coco-biodiesel blend, the Philippine economy stands to register savings or value-added to country’s resources by P3.1 billion through export substitution which can be used either to lower price of diesel or to boost the agricultural sector.
The three small independent players also urged the lawmakers to pass the Biofuels Act. "This is a major step toward achieving independence from 100-percent imported fossil fuels," he said.
The officials from the three independent oil firms also urged the country’s Big Three oil companies – Petron Corp., Pilipinas Shell and Chevron Philippines – to help lead the way in promoting quality fuel products including alternative fuels like ethanol and coco-biodiesel products.
06/20/2006
Three of the country’s major independent oil players-Eastern Petroleum Corp., Flying V and Seaoil Philippines – formed yesterday a joint venture to intensify efforts to promote and cross-market their alternative fuel products.
In a press conference, Eastern Petroleum Corp. (EPC) chairman Fernando Martinez, who is also the chairman of the Independent Philippine Petroleum Companies Association (IPPCA), said the initiative – dubbed as "Sugod-Karga na, mga Kapatid" – is aimed at integrating and broadening the choice of new, cleaner energy to the motorists now reeling from successive oil price increases.
"The uniting of the three oil players pools almost 300 stations nationwide as outlets for the three alternative fuel products, thus broadening each other’s offerings while making them available to more motorists throughout the country," Martinez said.
EPC is pushing for the use of autogas or liquefied propane gas (LPG) for the transport sector particularly in taxi fleets.
Flying V, on the other hand, is more into the promotion of coco-methyl ester blend on diesel while Seaoil is strongly supporting the use of ethanol as gasoline additive blend.
Martinez said EPC is planning to put up 20 auto LPG gas refilling stations this year.
By next month, he said they would be putting up National Conversion Center in Pasig that could convert an average of 100 vehicles per day into gas-powered vehicles. LPG for transport, he said, has been widely accepted in Europe, South Korea and Japan for being economical, cost-efficient and environment-friendly fuels.
According to Martinez, EPC is now in the process of tapping funding institutions like the Development Bank of the Philippines (DBP) to finance this project.
Seaoil president Glenn Yu said ethanol-blended gasoline, on the other hand, has been developed from sugarcane and is seen to reduce toxic gas emission by 22 percent.
Flying V chairman and CEO Ramon Villavicencio said at five percent coco-biodiesel blend, the Philippine economy stands to register savings or value-added to country’s resources by P3.1 billion through export substitution which can be used either to lower price of diesel or to boost the agricultural sector.
The three small independent players also urged the lawmakers to pass the Biofuels Act. "This is a major step toward achieving independence from 100-percent imported fossil fuels," he said.
The officials from the three independent oil firms also urged the country’s Big Three oil companies – Petron Corp., Pilipinas Shell and Chevron Philippines – to help lead the way in promoting quality fuel products including alternative fuels like ethanol and coco-biodiesel products.
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