The Department of Energy (DOE) is expecting that Pilipinas Shell Petroleum Corporation (PSPC) would come up with final decision on whether or not it will keep its refinery business in the country this quarter, but there are no signs that a favorable ruling would be coming soon.

It was learned, however, that their principals in Netherlands are not coming up with anything definite yet as to its planned refinery investments in the Philippines.

"There are no definite developments yet. We are still on with our study and we have been constantly in touch with government as to how we should move forward with this," Pilipinas Shell vice president Roberto S. Kanapi said.

Just as the energy department has been moving heaven and earth to entice investments for refinery facilities in the country though, the industry got another "blackeye" when the Supreme Court rendered a ruling that directs the oil companies to relocate the Pandacan oil depots out of Manila.

Kanapi admitted all these "troubling developments" are being assessed by PSPC and their principals in Europe; and they see these to have bearing on their final decision on their refinery facility in Tabangao, Batangas.

Shell has planned of multi-billion dollar capital outlay to upgrade or expand its refinery, but concerns are raised on how viable the investment climate would be for such ventures.

Without predictable business environment, it was noted that the downstream oil industry would continue to be in limbo; thus, it does not thrive ideal for oil companies to pour in huge investments, such as refineries.

Just as the decision on Shell’s refinery investment continues to hang, the pullout of Saudi Aramco, which is the world’s largest oil producer and a powerful member of the Organization of Petroleum Exporting Countries, came as another blow to the country’s bid for "energy security."

The intent of getting Saudi Aramco as partner to Petron Corporation when it was privatized in the 90s, was primarily anchored on ensuring crude supply for the oil industry’s dominant player.

With Aramco’s exit, government is hoping that previous arrangements would carry on, but industry experts said that would not necessarily be the case.

"Maybe the government should seriously weigh its policies and the options it has been embracing as to ensuring the country’s energy security," an official of another oil firm has noted.