SeaOil opens retail outlet in southern Philippines

Independent oil firm SeaOil Philippines, Inc. opened a gas station in Zamboanga City in southern Philippines in April. SeaOil claims its prices are cheaper than those being offered by major oil companies who operate the 32 other gas stations in the city, where prices tend to be Php5 (US$0.10) more than average prices nationwide. According to city officials, they hoped that SeaOil’s entry into the local market would pave the way for Shell, Petron and Caltex to reduce their pump prices. (April 27, 2009)