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                    [ArticleID] => 170385
                    [Title] => Perez bucks proposal to create National Oil Exchange
                    [Summary] => Energy Secretary Vincent S. Perez is opposing any proposal to create a National Oil Exchange (NOEC).


"The local oil industry is already healthy at the moment. We don’t see the need for the concept of an oil exchange," Perez told reporters.


He said the country has sufficient petroleum supply. "The spirit of a deregulated industry already allows transparency in the procurement of petroleum products," he added.


The energy chief said there is enough competitive pressure in the industry, thus there is no need an oil exchange.


                    [DatePublished] => 2002-08-01 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [SectionName] => Business
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MARIAN CATHEDRAL

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                    [ArticleID] => 170385
                    [Title] => Perez bucks proposal to create National Oil Exchange
                    [Summary] => Energy Secretary Vincent S. Perez is opposing any proposal to create a National Oil Exchange (NOEC).


"The local oil industry is already healthy at the moment. We don’t see the need for the concept of an oil exchange," Perez told reporters.


He said the country has sufficient petroleum supply. "The spirit of a deregulated industry already allows transparency in the procurement of petroleum products," he added.


The energy chief said there is enough competitive pressure in the industry, thus there is no need an oil exchange.


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abtest

Perez bucks proposal to create National Oil Exchange

August 1, 2002 - 12:00am

Energy Secretary Vincent S. Perez is opposing any proposal to create a National Oil Exchange (NOEC). "The local oil industry is already healthy at the moment. We don’t see the need for the concept of an...

Business