Belgian firm eyes oil refinery, depot in PH - Erwin Tulfo

A Belgium-based firm has expressed interest in building an oil refinery and depot in the Philippines, Senate Committee on Energy chairperson Erwin Tulfo said.

Tulfo said Brightside Industries Group, LLC sent him a letter expressing interest in the project, which the company said would not require the Philippine government to spend public funds.

“The more companies that will build oil depot and refinery in the Philippines, the better. Because we can ensure that when there’s conflict in the Middle East, we will still have enough supply,” Tulfo said.

He said the company must coordinate with the Department of Energy (DOE) for negotiations.

Tulfo said the Belgian firm's proposal was similar to that of the Abu Dhabi National Oil Company (ADNOC).

Following a meeting with ADNOC, the DOE earlier said it was considering a larger site in Zamboanga for a proposed oil storage facility that could accommodate up to 50 million barrels.

The government is seeking to position the Philippines as an oil storage hub for Asia by encouraging foreign companies to establish storage facilities in the country.— MCG, GMA News

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