The government is opening the Bicol Shelf Basin to private investors for oil and gas exploration, a move intended to bolster indigenous energy resources as the country seeks to reduce its reliance on volatile global fuel markets. The Department of Energy (DOE) on Wednesday, April 1, announced a...
A wider external imbalance threatens to add further depreciation pressure on the already record-weak Philippine peso, as escalating geopolitical tensions—particularly the United States (US)-backed Israel-Iran conflict—are expected to drive up import costs and weigh on export growth, widening...
While there is no specific provision calling for immediate economic relief for the middle class families is stated in the report, Sen. Sherwin Gatchalian said the suspension of the excise tax, as well as the possibility of suspending the value added tax (VAT) may benefit all households. Gatchalian...
Motorists may face sharp spike in fuel costs as international supply anxieties push domestic pump prices toward record highs, prompting the government to issue emergency anti-hoarding directives to protect the local market. Based on the first two-day estimates in the Mean of Platts Singapore...
After surviving the Covid pandemic, Senate President Pro Tempore Panfilo "Ping" Lacson prays the world survives "Trump-26" or the policies, actions, and events that occurred during the second term of President Donald Trump in the year 2026. Lacson said this on Wednesday, April 1, as Filipinos...
NICOSIA, Cyprus (AP) — Skyrocketing oil and gas prices in Europe as a result of the ongoing Iran war won 't return to normal levels any time soon, even if peace is declared tomorrow, the European Union 's energy commissioner warned Tuesday. Commissioner Dan Jørgensen said although...
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...
Aboitiz InfraCapital Inc., the infrastructure arm of the billionaire Aboitiz family’s conglomerate, is overhauling its operational protocols and employee benefits to navigate the national energy emergency triggered by volatility in the Persian Gulf. Aboitiz InfraCapital joined the growing list of...
Police teams will be keeping an eye on illegal fare hikes amid reports that some buses and other public utility vehicles (PUVs) are overcharging their passengers, citing rising fuel costs as the reason. PNP chief Gen. Jose Melencio C Nartatez, Jr. said the move is intended to assist the Land...
Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro will seek talks with Iran 's top diplomat in Manila to ensure safe passage of tankers bringing oil bound for the Philippines as the country races against time to secure enough fuel before looming global shortage. Presidential...
Eight bus companies and operators are now in trouble after they were accused of charging their passengers with additional fare without the approval of the national government. The Land Transportation Franchising and Regulatory Board (LTFRB) said it already issued a show cause order (SCO) against...
UNDER THE MICROSCOPE With the bill granting the president emergency powers regarding the energy crisis already passed, the president should not just reduce the excise tax on fuels. Rather, he should totally remove it, even temporarily, to give the people some breathing space amid the tightening...
