MANILA, Philippines — Leading independent fuel provider Seaoil Philippines became the first oil firm to comply with a new government initiative to curb oil smuggling.
The Fuel Marking Program (FMP) aims to plug revenue leakages from oil smuggling by placing a molecular marker on imported, manufactured and refined fuel products such as gasoline, diesel and kerosene.
Seaoil’s bulk terminal in Mabini, Batangas was the site for the inaugural marking to launch the program, where live marking of imported fuel is implemented. The FMP is expected to be implemented also in other depots in the future.
The event was led by officials of the Bureau of Customs, Department of Finance, Bureau of Internal Revenue together with the Department of Energy and fuel marking provider, SICPA –SGS Philippines.
Following the recent completion of the implementing rules and regulations for the FMP, all tax-paid gasoline, diesel and kerosene store in depots and terminals shall be tested for complying with the prescribed dilution level.
Seaoil’s retail network includes over 200 stations in Luzon, which is supplied by its Batangas bulk terminal. Nationwide, Seaoil has over 450 stations.