النعيمي (السعوديه تقيم مشروعين للبتروكيماويات في الفلبين ) لتصديرها لشرق اسيا

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Visiting Saudi Arabia petroleum minister Ali I. Al-Naimi has revealed that his government will seriously consider a major naphtha-cracking petrochemical project and an expanded oil refinery in Bataan or Mindanao to refine oil for domestic consumption and the growing export markets in East Asia.



Al-Naimi made the assurance to Speaker Jose de Venecia during a ceremony honoring the Saudi official with a Congressional Medal of Achievement.

De Venecia had proposed a major recycling program for Saudi Arabia’s petrodollars through investments in petrochemical and oil refinery projects in the Philippines that could be worth at least $1 billion.

“We are hoping for a major breakthrough in the petrochemical industry in the Philippines, which we have been pushing for years,” the House leader said.

In his response, Al-Naimi said there is an opportunity for Petron Corp. to be a catalyst for a petrochemical industry in the Philippines. Saudi Aramco, of which Al-Naimi is chairman of the board, owns 40 percent of Petron, one of three major oil firms in the country.

The Speaker made the proposal because Saudi Arabia could not extend oil price discounts to the Philippines and the key to maximizing recycling in the country is through large-scale Saudi investments.

De Venecia also proposed Philippine participation in the gas exploration program in the Saudi peninsula and sought Saudi technical assistance for the establishment of the first-ever petroleum institute at the Palawan State University.

The petroleum institute, similar to the Dhahran petroleum institute in the Middle East country, could produce graduates to be employed in Palawan’s offshore oil fields and in the Saudi oil fields where more than 8,000 of the estimated 950,000 Filipinos in Saudi Arabia are currently employed.

De Venecia, who played a vital role in the establishment of the Palawan state college, said he would explore with Palawan Gov. Joel Reyes ways to formalize the institute through Saudi assistance.

Rep. Acmad Tomawis (ALIF) expressed confidence Saudi Arabia will take steps to assist the Philippines through De Venecia’s efforts.

Tomawis, together with Reps. Roque Ablan Jr., Antonio Cuenco, and Lorna Silverio, joined the Speaker in honoring Al-Naimi, a career geologist who rose from the ranks to become Saudi’s minister of petroleum and mineral resources.

Al-Naimi is also the chairman of the board of the Saudi Arabian Oil Company (Saudi Aramco).

They were joined in the hour-long ceremonies by Philippine National Oil Company President Eduardo Manalac, PNOC Director Alberto Pedrosa, Petron President Nick Alcantara, and other Saudi Aramco and Petron officials.

De Venecia informed Al-Naimi that the House of Representatives already endorsed King Fahd’s peace plan for the Middle East that envisions settlement of the continuing Arab-Israeli conflict.

The Speaker also praised Saudi Arabia’s opening to democracy with the recent holding of unprecedented municipal elections in the desert kingdom.

In honoring Al-Naimi, the House leader praised his professional and business achievements and his “leadership role in Saudi Aramco’s strategic venture into the downstream markets of the global oil industry.”

These ventures are with Texaco in the United states, S-Oil Corp. in South Korea, and Petron in the Philippines.

Solons to oil firms: Divulge pricing formula

Lawmakers yesterday lauded the decision by Saudi Arabia, the world’s leading oil exporter, to help ease oil price hike in the country and other developing countries, but at the same time urged the government to direct oil firms to divulge their pricing formula to prevent their possible abuse in light of the unabated oil price increases.

Reps. Lorna Silverio (Lakas, Bulacan), chairwoman of the House committee on inter-parliamentary relations and diplomacy, and Vincent Garcia (NPC, Davao City), member of the committee on energy, said while Saudi Arabia’s commitment to help ease pressure on world oil prices was welcome, the Philippines expects to feel its effects soon.

Silverio and Garcia said there were many factors to consider besides Saudi Arabia’s commitment because of world trade considerations and the collegial and complex nature of the Organization of Petroleum Exporting Countries (OPEC).

Silverio said the country must act independently and with haste to cushion the impact of rising oil prices by asking oil companies to publish their pricing scheme to prevent them from taking advantage of the rising oil prices in the world market.

For his part, Garcia said the government must fast track the review of Republic Act 7489 or the Deregulation of the Downstream Oil Industry to determine the need to amend or even repeal this because of the unabated oil price hikes since its enactment in 1988.

Garcia said the government should also work for an expanded coverage of price discounts by gasoline stations for the transport sector and convince oil firms to hold their plan to increase by P11 the oil price before the end of the month.