The Marcos administration is weighing the reversal of the government’s restrictive coal policy as the country grapples with the dual pressures of surging summer demand and volatile global energy prices. Energy Secretary Sharon Garin told reporters on Monday, April 20, that the Department of...
President Marcos remains not keen on suspending the value-added tax (VAT) on petroleum products, citing the "windfall" revenue it generates as a source of funding for response efforts amid the Middle East crisis. In a Palace briefing on Monday, April 13, Marcos finally elaborated on the reasoning...
Foreign ministers of the Association of Southeast Asian Nations (ASEAN) on Monday, April 13, urged sustained diplomacy and restraint following recent developments in the Middle East, while welcoming a temporary ceasefire between the United States and Iran. Department of Foreign Affairs (DFA)...
Saying that President Marcos has failed to deliver substantial relief to the people amid the impacts of the Middle East crisis on the country is a huge lie, Malacañang said. Palace Press Officer and Communications Undersecretary Claire Castro said seen or not seen, Marcos continue to work and...
President Marcos is expected to announce his decision on the fuel excise tax cut on Tuesday, April 14, as the law granting him emergency powers to either reduce or suspend excise taxes on petroleum products has already taken effect. Marcos has yet to decide on the excise tax cut despite the...
DAVAO CITY – The Davao Light and Power Co. assured people on Wednesday, April 8, that power supply in Mindanao remains stable. Speaking at the Davao Peace and Security Press Corps media briefing at The Royal Mandaya Hotel, DLPC reputation management manager Fermin Edillon said Mindanao has...
While President Marcos believes the two-week ceasefire deal between the United States and Iran may not be enough to lower the prices of oil, the country will maximize it to increase its supply. "So, we will take full advantage of the two weeks to increase our supply as much as possible and to...
Executive Secretary Ralph Recto expressed hopes that the oil diplomacy the Philippines is pursuing amid the Iran-US conflict would not only replenish the country 's stocks, but build it up. Recto stated this during a meeting with business groups and executives of petroleum companies on...
Even if the war in the Middle East de-escalates, the Department of Energy (DOE) has been hit with a cold, hard truth for motorists: oil prices would remain elevated and may ease at a slower pace compared to their quick rise. Energy Secretary Sharon Garin emphasized during a media briefing on...
Malacañang has clarified that the government’s efforts to secure safe passage for Philippine vessels through the Strait of Hormuz are aimed at ensuring a steady fuel supply, not immediately lowering oil prices. Presidential Communications Office (PCO) Undersecretary Claire Castro said this after...
Country’s rice stockpiles expanded in March compared with a year earlier, driven by the recovery in government-held reserves and steady gains in household holdings, according to the latest data from the Philippine Statistics Agency (PSA). Total rice inventory stood at 1.88 million metric tons as...
The Philippines should engage in a high-level government-to-government negotiations to facilitate procurement efforts of private oil companies in order to ensure the country has enough supply of petroleum, diesel and crude oil. This was part of the recommendation drafted by Sen. Sherwin...
