Image by alles-schlumpf via FlickrMANILA, Philippines – Trailing the feat of most oil companies unaffected by the Batangas-Manila pipeline closure, Eastern Petroleum Corporation reported that its sales have grown 500-percent month-on-month because of volume shift to other industry players.
In an interview with reporters, Eastern Petroleum chairman Fernando L. Martinez likewise noted the company’s sales revenues reached a record P3.2 billion to-date, which he described to have risen exponentially from last year.
The build-up in the oil firm’s inventory, he stressed, has been part of their “response to government call” following the supply delivery constraints experienced by Pilipinas Shell Petroleum Corporation and Chevron Philippines Inc.
“Eastern will continue to import huge quantities enough to fill up the gap to avoid any supply disruption for Luzon,” he said.
For the month of December alone, Martinez said they already cornered 37 million liters of diesel from a Japan shipment; and two gasoline product shipments from Singapore.
“The combined cargoes of more than 50 million liters are for distribution to Eastern Petroleum network of gasoline stations and to supply other oil retailers and distributors experiencing tight supply,” he added.
http://www.mb.com.ph/node/292165/ea
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