Allocation of Sum for Claims of Oil Companies for Crude-Related Cost Reimbursements
Letter of Instructions No. 1174, issued on November 16, 1981, authorizes an additional allocation of P2,000 million from the Special Fund to address the reimbursement claims of oil companies for crude-related costs. This decision follows a review indicating that the previously allocated P4,825 million is nearly exhausted. It emphasizes that funds designated for energy exploration, research, development, and transport systems must remain intact. The Ministry of Energy is tasked with submitting regular reports on the reimbursement certificates issued to oil companies. The instructions take effect immediately.
Law Information
- Reference Number
- Letter of Instructions No. 1174
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
November 16, 1981
LETTER OF INSTRUCTIONS NO. 1174
| TO | : | The Minister of Energy |
| The Minister of the Budget | ||
| The Treasurer of the Philippines |
The latest review conducted by the Ministries of Energy and Finance disclosed that the present amount of P4,825 million previously set aside from the Special Fund pursuant to existing Letters of Instructions is about to be fully utilized and is therefore insufficient to meet the additional claims of oil companies for crude-related cost reimbursements pursuant to the October 16, 1981 BOE Resolution No. 81-15 and earlier Board of Energy Orders.
In order, therefore, to enable the Ministry of Energy to continue the aforementioned reimbursement scheme in accordance with existing Board of Energy Orders, the additional amount of P2,000 million is hereby authorized to be paid out of the Special Fund created under Section 8(j) of R.A. 6173, as amended: Provided, that the amounts earlier set aside from the Special Fund for energy exploration, research and development, transport system and other purposes shall not be reduced. cd
The Ministry of Energy is hereby directed to submit to me periodic reports on reimbursement certificates actually issued to oil companies for crude reimbursements incurred.
This Letter of Instructions shall take effect immediately.
DONE in the City of Manila, this 16th day of November, in the year of Our Lord, Nineteen Hundred and Eighty-One.
Cite This Law
Allocation of Sum for Claims of Oil Companies for Crude-Related Cost Reimbursements, Letter of Instructions No. 1174, Nov 16, 1981 (Philippines)
Allocation of Sum for Claims of Oil Companies for Crude-Related Cost Reimbursements, Letter of Instructions No. 1174 (Phil. 1981)
Related Laws
- Claims of Oil Companies for Crude-Related Cost ReimbursementsLetter of Instructions No. 1346 • Jul 22, 1983 • Presidential Issuances
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- Release of Funds for Reimbursement to Oil Companies for Actual Crude SurchargesLetter of Instructions No. 969 • Dec 15, 1979 • Presidential Issuances
- Release of Funds for Reimbursement to Oil Companies of Cost Increases Resulting from Country Price AdjustmentsLetter of Instructions No. 842 • Apr 4, 1979 • Presidential Issuances
- Allocation of Additional Fund To Reimburse Oil Companies of Actual Crude Surcharge IncreasesLetter of Instructions No. 975 • Jan 8, 1980 • Presidential Issuances
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