On Thursday, the Philippines government said that the closedown of Pilipinas Shell Petroleum Corp.’s refinery would not have an impact on the country’s local oil supply.
Energy Secretary Alfonso Cusi said that the government respected Shell’s decision to shut the 110,000 bpd Tabango refinery as the company is changing its oil downstream business model to adapt to the existing market/economic situation.
“This, however, will not affect the oil supply in the country as they will continue to fill in their market share through imports of refined products,” he said.
However, Cusi added that the possible job losses remain as his concern.
