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Petron open to jointly import ethanol

Petron Corp., the Philippines’ largest oil refiner, said it is open to a joint importation arrangement with other oil players to be able to comply with the higher ethanol blend in 2011. Petron President and Chief Executive Officer Eric Recto told reporters that they are continuing to explore other options to comply with the biofuels law. He said the decision whether to enter into a possible joint importation scheme with other oil firms such as Shell will hinge on factors such as economies of scale. (July 7, 2010)