MANILA, March 29 (PNA) – The Thai government-owned PTT Philippines Corp. is ready for the mandated Euro 4 standard for diesel and gas products which will be implemented in July 2015, according to its President and Chief Executive Officer (CEO) Sukanya Seriyothin.
”Yes, of course, because our refinery in Thailand, we already used for so long. It’s no problem for us,” Seriyothin told reporters.
She noted that the firm will only have to import the finished fuel products to its facility in Subic.
Seriyothin said the company will likely have an import volume of 200,000 barrels per month to comply with the Euro 4 implementation.
The CEO mentioned its prices will go up with the upgrade from Euro 2 to Euro 4, which has lower carbon emissions.
She assured that PTT will phase out Euro 2 early.
Seriyothin said PTT is also studying to bring in two or three high octane products to the Philippines.
On Wednesday, Department of Energy (DOE) Undersecretary Zenaida Monsada said in a radio interview that vehicle owners don’t need to change their Euro 2 vehicles to use the Euro 4 fuels.
However, she could not give an estimate on how much oil prices could go up with the implementation of Euro 4.
Monsada noted that price changes will still largely depend on market forces. (PNA)