Court to ask for Reyes testimony on oil firms' alleged cartelization

A Manila court is set to summon Energy Secretary Angelo T. Reyes and ask him to testify whether the Phlippines’ three biggest oil companies are guilty of predatory pricing. Judge Silvino Pampilo Jr. of Manila Regional Trial Court Branch 26 will issue the subpoena this week, allowing the energy secretary to attend a November 10 hearing. A case has been filed against the country’s three biggest oil companies, accusing the Pilipinas Shell Petron Corp., Chevron Philippines Inc., and Petron Corp. of cartelization, a violation of the oil deregulation law. Although considered as an “amicus curiae" – or a friend of the court – Reyes’ testimony may benefit the oil companies, Pampilo said. Earlier, Reyes defended oil companies after then National Economic and Development Authority Secretary General Ralph Recto said that oil prices in the Philippines were overpriced by as much as P8 per liter. During a hearing held on Monday, Recto was cross-examined by lawyers Janet Regalado of Shell, Erwin Herrera of Chevron, and Gener Asuncion of Petron. The so-called “Big Three" oil companies have allegedly committed cartelization because they raise and cut prices and make announcements about price movements all at the same time, Recto said. Oil companies “have not presented their (oil companies) computation," Recto told reporters after the court hearing. “[Their books should be opened] not only to determine how much taxes they paid, but to determine also if they overpriced or not." - GMANews.TV