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Saying their very existence is at stake, the more than 60 new oil firms that have penetrated the downstream oil industry since 1998 are determined to stage an all-out fight against the proposed National Oil Exchange.
The oil companies, under their umbrella organization New Petroleum Players of the Philippines (NPPAP), are to meet today to firm up their stand against House Bill No. 8710, creating a government-owned and -controlled corporation that will handle the country's purchases of petroleum products.
Among the members of NPPAP are Eastern Petroleum Corp., Total Petroleum Phils., Inc., Seaoil Petroleum Corp., Pryce Gases, Rambi Development Corp. Unioil …