The Department of Energy (DOE) affirmed yesterday that ‘gas production decline’ at the Malampaya field will persist next year and until the project’s end of service contract in 2024. Energy Secretary Alfonso G. Cusi specified that gas restriction had been lingering from January 2020 to...
Aside from planning to temporarily stop the collection of excise taxes, the Department of Energy (DOE) is also studying the possibility of suspending the imposition of value added taxes (VAT) for petroleum products. If the pass on of 12-percent VAT -- which is another layer of taxes enforced on...
The Department of Finance (DOF) has advised caution in suspending excise tax on petroleum as it will incur substantial revenue losses for the government and may affect the budget for coronavirus recovery measures. In a memorandum submitted to Finance Secretary Carlos G. Dominguez III, Finance...
The Department of Energy (DOE) is seeking the temporary suspension of the imposition of excise tax on fuel as oil price continues to soar in the past several months. (MARK BALMORES / MANILA BULLETIN FILE PHOTO) DOE Secretary Alfonso Cusi said Wednesday, Oct. 20, that he wants it suspended during...
President Duterte has signed into law the regulatory framework for the safe operations of the liquefied petroleum gas (LPG) industry. LPG cylinders (Photo from Wikimedia Commons) Enacted was Republic Act (RA) No.11592, or the LPG Industry Regulation Act. It was approved by the President on Oct. 14,...
The Department of Science and Technology (DOST) and six other government agencies signed Monday, Oct.18, a “landmark” convergence pact to forge and promote “deeper” scientific and technological collaboration in an effort to optimize investments and impact of research and development...
The financial burden of consumers on their fuel needs will rise anew by significant amount this week, with gasoline prices increasing by P1.80 per liter, as announced by the oil companies. The price of diesel products will also be on uptrend to the tune of P1.50 per liter; while kerosene products...
The government is expecting P492.4 billion worth of investments if the oil and gas service contracts (SCs) to be awarded under the Philippine Conventional Energy Contracting Program (PCECP) designed by the Duterte administration will eventually reach commercial development and production phases....
The country’s grand ambition for massive solar power installations could result in weaker food sustainability, because energy developments could snatch lands that could have otherwise been allocated for agricultural production, a study outcome of the Department of Energy (DOE) has shown. The DOE...
‘Red flag’ is being raised anew by Senate Committee on Energy Chairman Sherwin T. Gatchalian on the financial capacity of cash-strapped Udenna Corporation to acquire the 45 percent stake of Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya gas-to-power venture. The...
The government needs to allocate P914.160 million to subsidize licensed public utility jeepneys (PUJs) in the country against astronomical rise in fuel prices, according to Senate Committee on Energy Chairman Sherwin T. Gatchalian. He, however, qualified that such scale of subsidy will just be for...
Senator Sherwin Gatchalian on Thursday, Oct. 14 urged the government to reactivate the government’s fuel subsidy program, Pantawid Pasada Program, to provide relief to the public transport sector that would be affected by the recent oil price increases. Gatchalian said it is important to shield...
