Oilink will set up LPG storage facility
May 18, 2009
Buoyed by the strong performance generated over the past several years, Oilink International Corporation is eyeing to set up additional storage facility to handle the firm’s liquefied petroleum gas (LPG) supply in its terminal in Bataan this year.
Oilink International Corporation Spokesperson Rodolf Britanico said the decision to put up an LPG storage tanks was due to the strong demand in the local market for the said product despite the current volatile situation faced by local retailers.
“Oilink wants to help the consumers by providing stable and quality LPG products at competitive prices,’ Britanico said.
The company is currently engage in the terminalling of various oil and petroleum products. Aside from that, the company also imports and markets other fuel products such as jet (aviation gas), bunker fuels and asphalt.
At present, Oilink operates a 80, 000- square meter terminal in Lucanin Point, Bataan where 21 vertical storage tanks can hold one million barrels of oil products or the equivalent of 159 million liters.
Britanico said Oilink originally planned to put up an LPG storage facility way back in the 1990’s but the Asian financial crisis that wreaked havoc to the global economy then forced the company to shelve the plan for better times.
“In 1999, Oilink and Idemitsu of Japan were about to construct two storage tanks but unluckily it did not materialize due to the worsening crisis in Asia and it happened that investors had to back out, Britanico explained.
Britanico pointed out that Oilink is also seeking support from new oil players and concerned government agencies in order to help the public have affordable yet quality supply of LPG products.
The official also allayed concerns of some sector regarding the current LPG supply of local retailers adding that Oilink can assure the public that once completed, the storage facility will be able to meet demands.
“Just like the Oilink terminal that was built to handle the importation of all petroleum products namely, gasoline, diesel, jet fuel, kerosene and asphalt without problem since its inception, we would like to assure the public that the supply of LPG products would also be stable,” he added.
Britanico added that the project would also not be affected by the current dispute with the Bureau of Customs (BOC) regarding alleged discrepancy on oil importation documents.
“We have already provided the requested documents during the post-audit conducted by the BOC. This will not have an effect on our plans,” Britanico stressed.
By: Leah Flor