GOVERNMENT-RUN Power Sector Assets and Liabilities Management Corp. (Psalm) recently picked Pilipinas Shell Petroleum Corp. and Petron Corp. to supply its industrial fuel oil (IFO) requirements for the second half of the year.

After completing the bid evaluation and the post qualification process, Psalm—in a resolution issued by its bids and awards committee for fuel (BAC-Fuel), declared Pilipinas Shell’s offer of P5.27 billion for the 150,000-kiloliter (kL) IFO requirements of the Malaya Thermal Power Plant as the lowest calculated and responsive bid (LCRB).

Psalm said Petron was also declared as LCRB for the IFO requirements of Mindanao-based power plants that consist of power barge (PB) 104 owned by Southern Philippines Power Corp. (SPPC) and Western Mindanao Power Corp. (WMPC).

Psalm added that Petron offered P525 million for the supply of 14,000 kL of IFO for PB 104; P933 million for the 26,500-kL IFO requirement of SPPC; and P1.62 billion for the 46,500-kL requisite of WMPC.

PSALM said it issued these notices of award to both suppliers on July 8. The bidding for the supply and delivery of its oil-based fuel requirements was conducted on June 17 at its office in Makati City. The invitation to did was published on May 20.