By Alena Mae S. Flores

Chevron (Caltex) Philippines Inc., the local unit of US-based Chevron, assured the government that it will not cut down its workforce in the Philippines despite the global economic downturn.

Mark Quebral, manager for policy and government affairs of Chevron, told reporters that like many multinational firms, the oil distributor was not spared from the global credit crunch.

Major chip maker Intel Corp. last week announced that it was terminating 1,800 workers and closing down its Cavite factory in the third quarter.

?We are affected by the global recession but we are not at the point of downsizing [our workforce],? Quebral said. Chevron has 18,000 personnel, including 500 direct employees, indirect hires, contractual workers and third party providers.

Quebral said the company was reviewing its expansion plans and implementing cost-cutting measures to maintain operations and avoid retrenchment.

Quebral, meanwhile, said the company had committed to invest $20 million over the next two years for equipment acquisition and upgrading program to comply with the mandate set by the 2006 Bio-fuels Law.

He said Chevron would comply with the law and retail gasoline mixed with 10 percent ethanol in 500 stations, or almost 60 percent of outlets nationwide starting next month. The company has around 840 stations nationwide.

?More stations will be placed online in the coming months in a year-long campaign to provide Caltex E10 with Techron to more customers in more places all over the country,? Quebral said.