Oil giant Petron Corp. will face a complaint by Eastern Petroleum Corp. on Thursday over the P50-million Subic megastation, Eastern Petroleum chairperson Fernando Martinez said Wednesday.
Martinez said Eastern Petroleum will file a restraint of trade complaint against Petron before the Energy Department for allegedly violating the Oil Deregulation Law of 1998 when it blocked the opening of Eastern Petroleum’s Subic megastation.
Petron has stood firm in upholding a contract between it and the SBMA prohibiting the construction of a similar business within an 800-meter radius inside the free port area.
The Petron official explained that the SBMA Board approved the 800-meter radius provision as an incentive for taking a “gamble" in Subic in 2003, when the area was still “underdeveloped." (30)
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