MAJOR oil players dared their competitors to also open their books for public scrutiny a day after offering their financial records to the government.
Sally Monteiro, Philippine Institute of Petroleum (PIP) executive director, on Monday told a press conference that other oil companies should also heed President Benigno Aquino 3rd’s call for transparency in the industry.
“The PIP enjoins all other oil players to heed President Aquino’s call for openness and transparency by also opening their books,” she said.
PIP members include Chevron (formerly Caltex) Philippines Inc., Liquigaz Philippines Corp., Petron Corp., PTT Philippines Corp., Pilipinas Shell Petroleum Corp. and Total (Philippines) Corp. all of which operate in other countries.
Petron, the only local company among the lot, earlier bought a refinery in Malaysia.
On Sunday, PIP issued a joint statement offering books of its members to the government for the review to ensure that they have not been profiteering from their pump price movements.
Company officials present during the press conference, however, said that their financial records are already being submitted to government regulators for compliance with existing protocols.
“This is nothing new, it has been done before [because] we’ve had studies in 2005 and 2008. It is just a matter of putting this data together for the public to understand,” Roberto Kanapi, Shell vice president for communications, said.
But, independent players, or the local firms that entered the market following its deregulation more than a decade ago, scoffed at the majors’ proposal.
Fernando Martinez, Independent Philippine Petroleum Companies Association chairman, said that their group has long opened its books to the government.
He added that talks of big oil firms leaving the country because of mounting public pressure are a way to hold Filipinos “hostage” to their demands. –Euan Paulo C. Añonuevo, Reporter, Manila Times
World Day for Safety and Health at Work
“Safety and health at work every day!”
Invoke Article 33 of the ILO constitution
against the military junta in Myanmar to carry out the 2021 ILO Commission of Inquiry recommendations against serious violations of Forced Labour and Freedom of Association protocols.
Accept National Unity Government
(NUG) of Myanmar.
Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideos
Monthly Observances:
March – Women’s Role in History Month
April – Month of Planet Earth
Weekly Observances:
Last Week of March: Protection and Gender Fair Treatment of the Girl Child Week
Last Week of April – World Immunization Week
Daily Observances:
Mar 25 – International Day of Remembrance of the Victims of Slavery and the Transallantic Slave Trade
Mar 27– Earth Hour
Apr 21 – Civil Service Day
Apr 22 – World Earth Day
Apr 28 – World Day for Safety and Health at Work
