By Danessa Rivera (The
Philippine Star) | Updated January 3, 2017 - 12:00am
MANILA, Philippines – Philippine
National Oil Co. (PNOC) is looking to negotiate with the city government of
Manila on how best to develop the idle 11.89-hectare Pandacan oil depot.
The state-run firm is planning to
redevelop its Pandacan property to its best economic use since it is located at
the heart of Manila, PNOC president Reuben Lista said.
“We have a property in Pandacan.
Petron’s oil depot, that’s ours. We are also studying how to utilize it,” he
said.
The Pandacan property was originally
leased to Petron Corp. – the country’s largest oil refiner and marketer – for
25 years from Sept. 1, 1993 to Aug. 31, 2018.
The 11.89-hectare land is part of
the 33-hectare depot which used to house the storage facilities and
distribution terminals of other major oil companies such as Chevron Philippines
Inc. and Pilipinas Shell Petroleum Corp.
But in 2015, the Supreme Court ruled
the oil firms should remove the depot from Pandacan.
Moreover, a Manila City ordinance
reclassified the area from heavy industrial to high intensity
commercial/mixed-use zone.
PNOC has decided to exclude the
Pandacan property in the renewal of lease agreement with Petron for bulk plants
on September 2018.
“Petron wanted to negotiate [its
lease] but it was thumbed down by the Supreme Court. So we’ll have to negotiate
probably with the city government,” Lista said.
The Pandacan property will instead
be developed according to its best economic use and development trends in the
vicinity, PNOC said.
Earlier, PNOC said it is developing
its major land assets from idle lands into various energy centers to boost its
cashflow.
Among these assets include two
properties in Mabini and Bauan in Batangas.
In Mabini, PNOC has a 19.22-hectare
Energy Supply Base, of which 10.55 hectares are leased to its unit
PNOC-Exploration Corp.; 4.27 hectares rented by Petron as bulk plant while the
remaining 4.4 hectares are hilly/eroded
portions.
No comments:
Post a Comment