Shell to supply oil requirements of PSALM power barges

Oil giant Pilipinas Shell Petroleum Corp. will supply the oil requirements of the power barges of state-run Power Sector Assets and Liabilities Management Corp. (PSALM). In a statement, PSALM said it will provide 1.1 million liters of engine-lubricating oil to Iloilo-based power barges (PB) 101, 102, and 103, and Davao City-based PB 104. PSALM will pay a total of P98.16 million to Shell for the procurement project, according to the agency. The procurement project shows the government's bolstered efforts to provide "safe, optimal, and dependable operations" of power barges, PSALM president and CEO Emmanuel Ledesma Jr. said. Ledesma also said the project mirrors the agency's "commitment to transparency" in all its transactions. PSALM said Shell was the lowest bidder in the procurement project. Shell is the country's second largest oil company, which produces 110,000 barrels per day in its Batangas refinery. — JE/OMG, GMA News