Petroleum Resources

Risk of allowing DOE to meddle in fuel import business cited

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It’s not a good idea – economist

A Cebu-based economist has warned the government about the risk of allowing a government agency to meddle in the business of importing fuel as a solution to mitigate the impact of the country’s high inflation rate.

It will be prone to corruption, according to Cebuano economist and Cebu Daily News columnist Fernando “Perry” Fajardo.

Euro 2 diesel to go back on sale as measure to keep inflation in check

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THE Department of Energy (DoE) has directed to oil companies to start selling diesel compliant with the Euro 2 standard, a step backward from previous moves to shift to the newer Euro 4, as an inflation-control measure.

In a press conference on Tuesday, Energy Undersecretary Felix Wiliam B. Fuentebella said the rising prices of commodities prompted the DoE’s order.

“We have a bigger problem to address… inflation,” he said.

DOE, petro firms disagree on Euro 2 diesel fuel revival

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The reintroduction of Euro 2 diesel fuel at the pump is going to be a potential logistics nightmare for oil companies.

The Department of Energy (DOE) has issued a memorandum order (MO) requiring oil companies to provide Euro 2 compliant automotive diesel oil to help reduce fuel prices.

Oil firms and other sectors, however, said the order runs counter to the Clean Air Act, which mandate the sale of Euro 4 fuels for passenger and commercial vehicles in the country starting 2017.

Perks for petroleum investors under Marcos-era decree may be casualty in TRAIN2, and this has MVP worried

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BUSINESSMAN Manuel V. Pangilinan has expressed concern over how the second package of the Comprehensive Tax Reform Program, that seeks to rationalize fiscal incentives, will impact the upstream petroleum industry given the country’s need to find a suitable replacement for the gas now being produced in the Malampaya field in Palawan.

Among the expected casualties of the proposed Package 2 of the tax reform program

Cayetano fires back at Aquino: We both lost our hair, you lost Scarborough

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MANILA, Philippines — Continuing his word war against former President Benigno Aquino III, Foreign Affairs Secretary Alan Peter Cayetano insisted that the Philippines lost control over the Scarborough Shoal under the previous administration.

Cayetano's latest tirades come in response to Aquino's suggestion that the former's politics should be as "transparent as his hairstyle."

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