Ramon Ang open to selling Petron to gov’t amid oil price crisis

Manila Bulletin

Business tycoon Ramon Ang on Friday said his company, Petron Corporation, will cooperate with the government in efforts to ease the public’s burden amid the global oil price shock.  Ang, chairman and CEO of San Miguel Corporation, also expressed willingness to sell the fuel firm to the state.  The offer comes as lawmakers weigh the feasibility of renationalizing the country’s sole remaining oil refinery to gain more direct control over domestic fuel prices and supply chains.

Transcript

00:00Yung sinasabi mo, price control.

00:03Pwede gawin ng gobyernya yung price control.

00:05Pero doorman will have to subsidize.

00:09Patay ang gobyernya, 20-30 billion dollars a year subsidy.

00:13Kaya ang ginagawa nga ng ibang bansa ngayon,

00:16hini-de-regularize na rin yung oil industry nila

00:19para market force.

00:21Kung magkali yung actual bilim mo,

00:23binibenta mo ng income profit.

00:25Ngayon,

00:27if government is willing to come into Petron,

00:30I'm inviting the government to come in,

00:32invest in Petron.

00:34And they can take major stake for the whole company.

00:37I don't mind.

00:39And I promise the public,

00:40we will not take advantage on this people's crisis.

00:44Hindi kami kikita ng mahigit pa sa normal.

00:48And I'm willing to even lower the income.

00:53Baliwalain sa akin income.

00:54In fact, sabi ko nga eh,

00:55kung gusto ng gobyerno,

00:57pwede nga ng gobyernong bilin yung Petron sa akin eh.

01:00Kung sa tingin nila,

01:01mas magaling sila magpatakbo eh.

01:02Diba?

01:03So,

01:04in short,

01:06you have my 100% cooperation

01:09na tutulungan yung mga kababayan natin.

01:12Salamat po.

01:21You

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