One of the alleged new players in the lucrative oil smuggling racket reportedly leads an organization of Filipino-Chinese businessmen and even joined the state visit of President Ferdinand Marcos to China earlier this month, Politiko learned.
Senate President Juan Miguel “Migz” Zubiri on Friday backed President Bongbong Marcos’ decision to explore other ways in looking for oil and gas in the West Philippine Sea after the country’s previous joint exploration talks with China went pfft.
Sen. Sherwin “Win” Gatchalian on Friday took the Philippine National Oil Company (PNOC) to task for its failure to produce even “a single drop of oil” since its creation in 1973.
US President Joe Biden promised “consequences” for Saudi Arabia after a Riyadh-led coalition of oil-producing nations sided with Russia to slash output.
The government will soon announce “specific” plans and programs to address the rising fuel prices, Malacañang said.
The government will study the proposed joint oil and gas exploration with China in the West Philippine Sea (WPS), Malacañang said.
Malacañang has no comment yet on the proposal to revive the Oil Price Stabilization Fund (OPSF) amid the unabated increase in fuel prices.
1-PACMAN party-list Rep. Mikee Romero has proposed the revival of the Oil Price Stabilization Fund (OPSF) created by the Marcos Sr. administration in 1984.
Senator Grace Poe is set to refile her bill seeking to temporarily halt the collection of excise tax on oil products to cushion the blow of the price surges on the Filipino people.
President-elect Ferdinand Marcos Jr. and Ambassador of Nigeria to the Philippines Folakemi Ibidunni Akileye have discussed the possible collaboration of the two countries in the oil industry sector.
