Published May 8, 2021, 5:00 PM
The Department of Energy and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) have collaboratively called for greater inflow of investments in the country’s upstream petroleum sector if the Philippines would really have to cement its energy security pathway.
Nevertheless, for this goal to really advance, both government entities sounded off the need for resolution of legal challenges hamstringing investments in the sector – and that shall include a definitive decision on a pending case at the Supreme Court relating to the legal question raised by the Commission on Audit (CoA) on the income tax treatment of the royalty share of the contractor in the Malampaya gas field project.