Small oil firms buck oil price unbundling

The Independent Philippine Petroleum Companies Association, the country’s association of small oil players, asked the Department of Energy to withdraw a department circular on oil price unbundling, saying as it runs counter to the spirit of the Oil Deregulation Law of 1998.

“After going over its provisions, we are of the view that its implementation would greatly affect the viability of our business and run counter to the provisions of R.A. No. 8479, otherwise known as the Downstream Oil Deregulation Act,” IPPCA president Jesus Suntay said in a letter to Energy Secretary Alfonso Cusi.

The department delayed the implementation of the circular following an advice to re-publish the circular.