Category Archives: Energy

New Energy Contracting Round Slated for December

The Department of Energy will launch a new contracting round for coal and petroleum contracts in December. This will be the sixth Philippine Energy Contracting Round (PECR). Areas have yet to be finalized, but should include those in the South China Sea, Sulu Sea, and around Palawan province. However, contracts located in South China Sea will need clearance from the Department of Foreign Affairs due to the territorial dispute… Continue reading

Foreign Ownership Limit in Finance, Media, Education to be Increased to 70%

Economic officials plan to liberalize the foreign ownership limit rule in several industries where the move can be done through administrative orders. These include finance, mass media, education, and practice of licensed professionals. Socioeconomic Planning Secretary Ernesto Pernia added that they are backing a bill in Congress that seeks to amend the Public Services Act. The bill, if passed, would allow the opening up of the telecommunications, power, transport, and water sectors to up to 70% foreign… Continue reading

DOE Reviewing Proposals for Liquefied Natural Gas Hub

The Department of Energy (DOE) said that it is evaluating five government-to-government proposals for the development of a liquefied natural gas hub in the country. The agency said it received 27 such proposals, but it is initially reviewing the ones from China, Japan, Korea, Russia, and Indonesia. Private partners will also be sought to provide technical, trading, and management expertise. It set an ambitious launch date… Continue reading

Cimatu Reverses Lopez’ Order on Environmental Compliance Certificate

Environment Secretary Roy Cimatu repealed an order made by former secretary Gina Lopez regarding the issuance of environmental compliance certificates (ECC). Lopez earlier mandated that the department secretary should approve all ECCs for environmentally critical projects or in environmentally critical areas. Cimatu, however, said that the order slows down the issuance of permits for investors. The new secretary… Continue reading

Government Streamlines Issuance of Permits for Critical Energy Projects

President Rodrigo Duterte signed an executive order backing critical energy projects of national significance. It directed all government agencies to act on request for permits within 30 days, with non-action to be deemed as approval. Energy projects to be covered must be endorsed by the Department of Energy and should capital investments of at least P3.5 billion… Continue reading

South Korea Offers Philippines $1-Billion in Loans

South Korea is offering $1 billion in concessional loans over a six-year period to finance key infrastructure programs of the Philippines. Transport, ICT and energy infrastructure were identified as priority areas in the proposed cooperation. Both countries are set to finalize the framework agreement in August 2017. Aside from Korea, Japan and China had earlier pledged a combined $33 billion in investment and aid to the Philippines… Continue reading

After Criticizing Aquino’s Tax Waiver for Power Producers, Duterte Releases Similar Order

In 2016, President Rodrigo Duterte sharply criticized former president Benigno Aquino III for waiving tax liabilities amounting to P6 billion of a company running a power plant in southern Luzon. Aquino had issued an order in 2011 that condoned the company‚Äôs real property taxes related to the power plant because it would trigger massive tax liabilities on the part of the National Power Corporation, trigger cross-defaults, and… Continue reading