Oil firms offering higher-grade diesel
February 18, 2011
Business World
INDEPENDENT OIL companies Eastern Petroleum Corp. and Unioil Petroleum Phils., Inc. have begun selling higher-grade diesel that is compliant with Euro 4 standards. Eastern Petroleum President Ferdinand L. Martinez told reporters both companies have started selling Euro 4 compliant diesel in 50 stations combined. "This is a fuel that will reduce emissions by up to 60% and despite the cost we are willing to absorb it and sell the diesel at the same price as regular diesel," said Mr. Martinez. The additional cost to both firms is about P0.50 per liter, he said. Unioil and Eastern Petroleum will import about 30-40 million liters of the Euro 4 diesel from South Korea every month. Mr. Martinez said both companies are aiming to sell Euro 4 compliant gasoline within the year. "We just have to ensure that there is supply. For diesel we have ensured there is enough supply for us to go Euro 4," Unioil President Kenneth C. Pundanera said. Diesel which is compliant with Euro 4 is "clean-burning" and has a maximum sulfur content of 50 parts per million. Mr. Martinez said the standard has been around for 10 years "but was mostly discouraged" due to its cost. "But now we are in the position to absorb the cost," he said.