Tuesday 13 November
Powered by Ajaxy
Oct 30, 2017 @ 10:03

Petron-PNOC war just got hotter: RSA to file graft complaint vs. Reuben Lista


Bilyonaryo Ramon S. Ang is set to file graft and corruption charges against Philippine National Oil Co. president Reuben Lista before the Office of the Ombudsman.

Ang, president of oil refining giant Petron Corp., is suing Lista for unexplained wealth.

“Where did his money come from? He continues to post on his FB (Facebook) his many properties such as the one in Essensa,” Ang told reporters over the weekend.

“He is challenging us. Now it’s us who are filing the charges against him,” Ang said.

The complaint to be filed against Lista is on top of the case filed by Petron against PNOC for alleged breach of contract.

Petron argued that its existing lease agreements with PNOC for the sites of its $3 billion refinery in Bataan, 24 bulk plants and 67 gasoline stations, were valid and binding.

The oil unit of conglomerate San Miguel Corp. was forced to go to court after PNOC sought to waive the renewal clauses in the lease agreements and the cleanup of the contested sites ahead of the expiration of the lease.

Ang also accused Lista of offering the property covered by the existing lease contracts to new independent oil companies.

PNOC, however, said it was nullifying the lease agreements with Petron on the ground that the terms of the contract were “onerous and disadvantageous” to the government.

Please follow and like us:

Tags: , , , , , , , , , , ,

Related Stories
Conglomerate San Miguel Corp. grew its nine-month recurring income by a fifth to P52.4 billion
The granddaughter of San Miguel Corp. chairman Eduardo “Danding” Cojuangco shares her family’s legendary love
San Miguel Food and Beverage Inc. successfully raised P34.08 billion from its follow-on offering despite
A petition has been filed before the Supreme Court (SC) questioning the validity of the


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.