Seaoil to build ethanol distillery, increases fuel prices

Published: 03-Apr-2009

By: Staff Writer Staff Writer Staff Writer

It wants to ensure the sustainability of bioethanol fuel operations by building a 30-hectare ethanol distillery in Negros

Philippines-based refiner and fuel retailer Seaoil is planning to build an ethanol distillery in Negros to sustain its biofuel activities. The company is also increasing the prices of its fuel products.

Seaoil, which had started to blend ethanol to gasoline in 2005, is testing E85 blend with 85% ethanol and has introduced the fuel at PHP34.75 per liter, approximately the same price as the E10 blend with 10% ethanol.

Stephen Yu, COO of Seaoil, said: We can see that ethanol will continue to grow in popularity and usage since bunker or fossil fuel resources are being depleted worldwide and it makes a lot of sense to invest in planting sugarcane and putting up a distilling plant right now.

Meanwhile, Seaoil is hiking the prices of diesel by PHP1.50 per liter and the price of gasoline and kerosene by PHP1 per liter, effective April 1, 2009. Other retailers including Chevron Philippines, Petron and Pilipinas Shell have also announced price hikes.

According to the company, in last December it received the Quality Management System (ISO 9001:2000) certification from Geneva-based International Organization of Standards. With this certification, the company will find it easier to attract investors for its expansion programs.

Founded in 1978, the Seaoil group of companies is engaged in offering storage facilities for petroleum and petrochemical based products.

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