Oil Price Behavior towards end of 1st quarter 2007
From the 2007 opening crude prices of $54.23/bbl for Brent, $54.17/bbl for WTI and $51.69/bbl Dubai, the three major reference crude prices rose $3 to $5/bbl range to average at $57.94, $59.20 and $55.75/bbl respectively in February 2008.
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How Crude Prices Behaved in 2006
Crude oil prices reached all time highs of above $78/barrel in 2006. Specifically in July 2006, Brent crude topped $78.1/barrel while WTI and Asian reference crude Dubai hit $77.5/barrel and $66/barrel respectively.
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OIL MONITOR

As of 04 November 2008

The October average price of Asian Dubai crude decreased by about $28/bbl compared to last month's average. Likewise gasoline and diesel declined by about $28/bbl and $32/bbl, respectively, over the September averages. The Contract Price (CP) of LPG (at 30% propane and 70% butane) decreased by $314/MT, from $804/MT in October to $490/MT this month.
  

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Philippine
Institute of Petroleum
Unit 201 Centrum II Building 150 Valero Street, Salcedo Village, Makati
Tel/Fax.: 817-4723

Philippine Institute of Petroleum

A non-stock, non profit SEC registered grouping of businesses operating in the downstream oil industry in the Philippines. It is an independent body representing the common interests of its members with different publics.

Members of the PIP include: Petron Corporation; Pilipinas Shell Petroleum Corporation; Chevron Philippines Inc.; Total (Philippines) Corporation; PTT Philippines Corporation and LiquiGaz (Philippines).

Principal roles of the PIP include: Creating a venue/forum for the sharing, preservation and refinement of best practices in the field of HSEQ; - Acting as an industry oversight group for concerns in the areas of product quality standards, transport and handling practices, and compliance with relevant Government regulations; Read More

Corporate Social Responsibility
PIP Highlights

Petron Inaugurates RP's First Petrochemical Feedstock Units
Date: April 9, 2008
The country’s leading refining and marketing company Petron Corporation marks another first when it inaugurates the Philippines’ first petrochemical feedstock facilities on April 9 at its 180,000 barrel-per-day refinery in Limay, Bataan. The Petro Fluidized Catalytic Cracking (PetroFCC) unit and Propylene Recovery Unit (PRU) are part of the company’s Refinery Master Plan, which will enable it to further diversify into the petrochemical business and sustain its growth momentum.

Things You Want to Know About Auto-LPG

LPG is a generic name for mixtures of hydrocarbons (mainly propane and butane) which exists as vapour under ambient conditions and can be changed into liquid state by application of moderate pressure.

Biofuels Program Approaches in Selected Asian Countries
Date: Feb. 8, 2007
In the recently concluded 5th Asian Petroleum Technology Symposium held 23- 25 January 2007. Jakarta, Indonesia, 23 resource persons representing ASIAN national and private oil companies, governments, academe, automotive persons, and NGO’s presented equal number of country research papers touching on the theme “Fuel Quality Improvement and Technology Developments”.

PIP Update on Biofuels Mandate
Date: Jan. 2007
The Philippine Institute of Petroleum (PIP), believe that to ensure commercial viability and long-term success of the alternative fuels program, it is necessary to have a two-year transition or preparatory period prior to the implementation of a full mandate for pre-blended biodiesel.

Adobe Acrobat Document (*.PDF File)
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PIP Comments on the National Biodiesel
(Coco Methyl Ester) Program

Date: July 21, 2006
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POSITION PAPER OF THE PHILIPPINE INSTITUTE OF PETROLEUM ON COCOMETHYL ESTER BLEND WITH DIESEL AS AUTOMOTIVE FUEL
Adobe Acrobat Document (*.PDF File)
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Previous News @ PIP News Archive: Click Here

COMPARATIVE REGIONAL PUMP PRICES
as of May 11, 2007
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Prevailing Retail Prices of Petroleum Products
in Metro Manila
(As of 18 June 2008)

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