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Philippines
Thursday, March 28, 2024

Oil firms support DoF’s fuel marking program

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The Philippine Institute of Petroleum on Monday expressed full support to the fuel marking program of the Department of Finance as a mechanism to fight smuggling and deter revenue leakages.

Members of the PIP include Chevron Philippines Inc., Isla LPG Corp., Petron Corp., Pilipinas Shell Petroleum Corp., PTT Philippines Corp. and Total Philippines Corp.

“As early as last year, our members have been working closely with the DoF to ensure the program’s proper and effective implementation. We support the government’s efforts to curb smuggling which continues to undermine the industry and the government in general,” PIP said.

The DoF consulted PIP member-companies on the draft Implementing Rules and Regulations in June while initial visits were also conducted by the agency, along with implementing bodies Bureau of Customs and Bureau of Internal Revenue and fuel marking provider SICPA SA of Switzerland and SGS Philippines  in several PIP-member facilities. 

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