Posts by tag
petroleum products
Speaker, Lower House to explore solutions with DOE, fuel firms vs gas price stampede
SPEAKER Ferdinand Martin Romualdez is set to gather major oil players and the Department of Energy’s officials today to explore “win-win” solutions that will address the seemingly endless series of oil price hikes.
PHL net oil imports bill soars 64.4% to $19.02B
THE country’s net oil imports surged to $19.02 billion in 2022, up by 64.4 percent from $11.57 billion a year ago mainly on account of high crude prices and increasing fuel demand, data from the Department of Energy (DOE) stated.
Cheaper crude shrank PHL’s oil-import bill in 2016—DOE
Declining world oil prices pulled down the Philippines’s oil-import bill in 2016 to $6.7 billion, from $7.7 billion, in 2015, even as the country imported more petroleum products.
Taxing oil in economic zones is illegal
SMUGGLING of petroleum products has been rampant in the last couple of years. The value-added tax (VAT) and excise-tax exemptions of free-port and economic zones (FEZs) are being abused by enterprising individuals.