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(Eagle News) — Senator Sherwin Gatchalian expressed support for the government’s decision to suspend the second round of excise tax on petroleum products, calling it “very timely.” “Kahit pa bumaba ang presyo ng petrolyo sa nakaraang mga araw at inaasahan na patuloy pa itong bababa sa susunod na taon, sinusuportahan ko ang suspension ng fuel excise tax to give the people a reprieve from the effects of the high inflation rates we had the past […]
by Ben PERRY Agence France Presse LONDON, United Kingdom (AFP) — Oil prices advanced Monday after crude kingpin Saudi Arabia unveiled plans to cut output in the face of global oversupplies, and pressed other producers to follow suit. Higher crude prices failed to lift the market overall in London however, with the FTSE 100 index lower as trading came to a close amid opening declines on Wall Street. Tobacco stocks were among those that slumped, […]
(Eagle News) — Good news for LPG consumers. Starting Nov. 1, oil companies are set to implement a big price rollback on liquefied petroleum gas (LPG), according to the Oil Industry of Management Bureau of the Department of Energy (DOE). LPG prices will likely to go down ranging from Php 5.00 to Php 7.00 for every kilogram (kg), or a total of Php 55.00, or Php 77.00 for an 11 kg LPG cylinder. According to […]
ADEN, Yemen (AFP) — A Saudi oil tanker carrying the first batch of petroleum products worth $60 million arrived at Yemen’s Aden port Monday, to help power electricity stations and prop up the war-torn country’s sagging economy, officials said. The aid, meant to ease crippling power cuts, marks the latest economic assistance offered by the kingdom as Yemen –- already on the brink of famine — reels from an economic downturn that has left many […]
(Eagle News) — President Rodrigo Duterte on Wednesday, October 17 signed the Petroleum Service Contract No. 76 with Israel’s Ratio Petroleum Ltd., covering the East Palawan Area. The petroleum service contract for the Area 4, the fifth round of the Philippine Energy Contracting Round (PECR5), was signed at the Heroes Hall in Malacañang, Palace. According to the Department of Energy, the service contract deal will allow the Israeli firm to explore the Area 4, covering […]
SARAJEVO, Bosnia and Herzegovina (AFP) — An explosion at a Russian-owned oil refinery in Bosnia killed one worker and injured 10 more, police and hospital spokesmen said Wednesday. Bosnian Serb leader Milorad Dodik visited Bosnia’s sole oil refinery in the northern town of Brod and said the blast, which occurred late Tuesday and sparked a fire, was an “unfortunate accident.” He praised the refinery’s workers for having behaved in a “particularly responsible way.” “They closed […]
SARAJEVO, Bosnia, and Herzegovina (AFP) — An explosion at a Russian-owned oil refinery in Bosnia slightly injured eight workers late Tuesday, local television reported citing officials. The blast at the plant in the northern town of Brod, on the border with Croatia, occurred around 9:30 pm (1930 GMT), RTRS television reported, citing the head of the municipality, Ilija Jovicic. The cause of the explosion at Bosnia’s sole oil refinery, which sparked a fire, was not […]
MONTREAL, United States (AFP) — An explosion and fire ripped through Canada’s largest refinery Monday, injuring several workers in what its owner called a “major incident.” The blast was believed to be the result of a malfunction in the diesel refining section of the Irving Oil refinery in St John’s, New Brunswick, said company executive Kevin Scott. Officials said all the plant’s workers were accounted for after the fire, and four people received hospital treatment […]
(Eagle News)—Manila Mayor Joseph Estrada announced a suspension of classes in Arellano University on Saturday, Oct. 6. This was after a cargo truck crashed in a column in the university on Legarda St. The vehicle’s container flipped over, causing the oil to leak.
NEW DELHI, India (AFP) — An India-led coalition to harness solar energy will eventually replace the OPEC oil cartel, India’s premier predicted Tuesday, as he opened the International Solar Alliance’s first assembly with UN chief Antonio Guterres. “The role of the oil wells today will be that of the Sun’s rays tomorrow,” Narendra Modi said at the meeting in New Delhi. “In the coming years, when the world discusses initiatives for the welfare of humanity […]
HONG KONG, United States (AFP) — Oil prices held around four-year highs Tuesday after another blistering rally, supporting energy firms, but most markets were in retreat as traders brushed off a positive lead from Wall Street and the US-Mexico-Canada trade deal. Crude has motored in recent weeks on concerns about supplies after sanctions are imposed on Iran next month, while OPEC’s decision not to ramp up output, upheaval in Venezuela, a strong dollar and a […]
HONG KONG, China (AFP) — Most Asian markets rose on Wednesday, with energy firms surging along with oil prices, as traders await the conclusion of a key Federal Reserve policy meeting. While worries about the China-US trade row continue to erode confidence, the strong US economy and healthy corporate outlook are providing some buoyancy for now. The weekend decision by major producers from inside and outside OPEC to maintain output — despite Donald Trump’s call […]
