State-run PNOC Exploration Corp. will choose an oil supplier and start its importation of an initial 50,000 metric tons of Philippine standard Euro-4 gas oil or diesel fuel by next month.
PNOC EC has issued the notice for the purchase of the trial shipment of 50,000 MT, and subsequent four shipments per month for one year to the Subic Bay Freeport.
“We will select the most advantageous offer. That will be next week. Hopefully, we can submit it to the EC board for approval on August 6,” PNOC EC president Pedro Aquino said.
He said even local suppliers could participate as long as they complied with the requirements.
Energy Undersecretary Donato Marcos said the chosen supplier should be able to supply cheaper fuel to PNOC EC.
“Whoever will be selected under the PNS (Philippine National Standard) whether Opec or non-Opec country, (should) have the same standards but cheaper to mitigate oil prices increase,” Marcos said.