Published June 9, 2021, 4:44 PM
The Philippine Institute of Petroleum (PIP), an organization of of major oil industry players, are throwing support to the decision of the Department of Energy (DOE) to review the technical and safety policies for small retail outlets that are serving marginalized areas, primarily the market domains relying on illegal oil trading.
Dubbed as the technology solution retail outlets (TSRO), this type of retail outlet is a result of emerging technologies that addresses the requirements of liquid fuels in areas currently served by the illegal ‘bote-bote’ trade.”
In a statement to the media, the PIP regarded the DOE’s move relating to the review of existing regulations governing TSROs as a step in the right direction because this will be addressing not just illegal practices in the deregulated downstream oil sector, but will likewise tackle the concomitant risks relating to safety of unacceptable trade activities in the sector.