THE government will look into the reasonableness of price adjustments by oil companies, which have occurred almost weekly.

The Department of Energy (DOE) and the Department of Justice (DOJ) signed Monday an amended memorandum of agreement (MOA) for a joint task force that will monitor the reasonableness of local oil companies’ oil-price adjustments.

The DOE and the DOJ noted that, effective immediately, there is a need to increase the membership of the DOE side to enhance the greater participation in the deliberation of issues and implementation of programs of action adopted by the DOE-DOJ Task Force in connection with reports on unreasonable prices of petroleum products.

The amended MOA stated that the DOE-DOJ Task Force is created and will be composed of an undersecretary from the DOE and an undersecretary from the DOJ as cochairmen.

The MOA also added that directors from the DOE’s Oil Industry Management Bureau, Legal Services, Hearing Division, Oil Industry Competition and Monitoring Division, Retail Market Monitoring and Special Concerns Division and the DOJ’s assistant chief state counsel, two state counsels, two state prosecutors and an assistant prosecuting attorney will complete the roster of members of the DOE-DOJ Task Force.

The MOA further emphasized the need for the DOE-DOJ Task Force to take a very active role in assessing and evaluating all factors to ensure fair and reasonable pricing of petroleum products as mandated under Republic Act 8479.

The DOE-DOJ Task Force is mandated to investigate, motu propio (by its own), or upon the report of any person, any threatened, imminent or actual cartelization or predatory pricing, the commission of any violation under Section 12 of the Act or any unreasonable rise in the price of a petroleum product; and in the proper cases, direct the provincial or city prosecutor concerned to file the appropriate criminal complaint.

The task force can also request proper courts to issue a restraining order or injunction pending the hearing of a criminal complaint for cartelization, predatory pricing or for violation of Section 12 of the Act.

The task force will also be in charge of advising the government or any of its instrumentalities, including government-owned or -controlled corporations, of any loss or damage in its business or property by reason of violation Section 11 of the Act.

The task force will also be required to submit such report as may be required jointly by the secretaries of energy and justice on the results of any investigation/action it has undertaken.

The DOE-DOJ Task Force will also be in charge of drafting the necessary rules and guidelines to govern the activities of the task force, and perform other functions as may be provided under the Act or are jointly assigned to it by the secretaries of energy and justice.

The DOE, on the other hand, shall provide the technical, administrative and secretariat support to the task force, provided that the DOE-DOJ Task Force may create such committees as may be necessary to fulfill its mandate.

The MOA stipulated that the task force may also call upon any bureau, unit, or office of both departments for assistance, and will have the authority to hire the services of technical consultants as may be deemed necessary.

DOE, DOJ sign amended deal for joint task force to monitor oil-price hikes

THE government will look into the reasonableness of price adjustments by oil companies, which have occurred almost weekly.

RDC-Davao to tap gold deposits in Compostela Valley worth $18B

IN the interest of speeding up mineral exploration in the Davao region, the Regional Development Council (RDC) XI (Southern Mindanao) has urged the Department of Environment and Natural Resources (DENR) to allow its regional office to directly issue mineral-exploration permits.

Oxfam pools resources, focuses on three most depressed Mindanao regions

DAVAO CITY—After 15 years of implementing peace and development projects in Mindanao, Oxfam Great Britain (OGB), Oxfam Hong Kong (OHK) and Oxfam-Novib (ON) have pooled their resources to implement a “one-Oxfam” project in three most depressed regions in Mindanao.

RP to tap into multitranche facility of ADB this year

THE Philippines has expressed interest in tapping additional financing for various projects through the Asian Development Bank’s (ADB) Multitranche Financing Facility (MFF) this year.

DA sets aside P70M for piglets, feed subsidies in C. Luzon, Calabarzon

THE Department of Agriculture (DA) is set to carry out a P70-million piglet subsidy and feed-support program for backyard hog growers in typhoon-battered regions of Calabarzon (Cavite-Laguna-Batangas-Rizal-Quezon) and Central Luzon.

12 Australian mining firms in RP compliant with standards, says envoy

THE Australian envoy to Manila has maintained that all 12 Australian mining firms operating in the country submit to the “highest safety and environmental standards,” amid complaints of human-rights abuse against one Australian firm operating in Nueva Vizcaya on charges of killings, harassments and mass displacement of indigenous tribes.

Town in Agusan marshland now a major rice producer

BUNAWAN, Agusan del Sur—Farmers in settlement areas in this town have a reason to be happy.  What used to be marshland, being a part of the Agusan marsh, their once sleepy agricultural town, is now a major rice producer.