Petron backs LPG measure

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Petron Corp. on Tuesday expressed support for a bill aimed at curtailing illegal practices in the country’s liquefied petroleum gas (LPG) industry. In a statement, Petron President and Chief Operating Officer Ramon Ang said “[i]t’s about time that tighter regulations and stronger penalties are put in place against these unlawful and unsafe practices,” adding that “similar to fuel smuggling, illegal refilling is also a threat to the industry and to the safety and welfare of consumers.” According to the firm, Petron Gasul cylinders are often illegally replicated or refilled by unauthorized LPG plants. Filed on Nov. 25, 2019, the measure, Senate Bill 1188 or the “LPG Act,” seeks to establish a national energy policy and regulatory framework for the LPG sector. It also seeks to govern the importation, refining, refilling, transportation, conveyance, distribution and marketing of LPG, as well as the manufacturing, requalifying, exchanging and swapping of LPG pressure vessels. Petron shares closed flat at P3.06 on Tuesday.

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