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DOE: Stronger dollar contributed to recent oil price hike cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.
Surigao del Sur Rep. Johnny Pimentel (File photo) MANILA - A lawmaker on Thursday said Congress would not fund the propounded oil importation agreement with Russia because the Philippine government is not in the business of importing and refining crude oil into finished petroleum products. Surigao del Sur Rep. Johnny Pimentel, chair of the House strategic intelligence committee, ruled out the government-to-government purchase of cheap crude oil from Russia because there is no mechanism for the Philippine government to directly import crude oil, whether it is from Russia or from other foreign sources. "Assuming we buy the oil, what will we do with it? We certainly can't refine it because the government does not own a refinery, and storage alone will cost us money," Pimentel said in a statement. He said if the government wants to pursue the oil supply deal, it should include Petron Corporation in the discussion considering the crude oil's compatibility in the company ....
Senators to refile bill on suspension of fuel tax philstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from philstar.com Daily Mail and Mail on Sunday newspapers.