PH petroleum group backs government-run crude oil reserve

By Ben Gines Jr.

Mar 16, 2022 12:27 am

The establishment of a government-owned strategic petroleum reserve is one of the long-term solutions that can address volatile oil prices in the global market, the Independent Philippine Petroleum Companies Association (IPPCA) said.

In a Senate Energy Committee hearing Monday, IPPCA Chairman Fernando Martinez said the stockpiling facility should be for crude as it is safer to store than diesel and gasoline.

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