Claims of Oil Companies for Crude-Related Cost Reimbursements
Letter of Instructions No. 1346, issued on July 22, 1983, directs the Ministry of Energy to continue the reimbursement scheme for oil companies based on prior Board of Energy orders. Acknowledging that the existing Consumer Price Equalization Fund of P8,825 million is nearly depleted, an additional P2 billion is allocated to meet current claims. The Ministry of Energy is tasked with providing regular updates on the reimbursement certificates issued to oil companies. This directive is effective immediately.
Law Information
- Reference Number
- Letter of Instructions No. 1346
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
July 22, 1983
LETTER OF INSTRUCTIONS NO. 1346
| TO | : | The Minister of Energy |
| The Minister of the Budget | ||
| The Treasurer of the Philippines |
The latest review undertaken by the Ministries of Energy and Finance showed that the present amount of P8,825 million previously set aside from the Consumer Price Equalization Fund pursuant to existing Letters of Instructions is about to be fully utilized. It is therefore insufficient to meet current claims based on earlier BOE orders plus the additional claims of oil companies for crude-related cost reimbursements pursuant to the April 22, 1983 BOE Resolutions No. 83-05 and 83-06. aIcDCH
In order, therefore, to enable the Ministry of Energy to continue the aforementioned reimbursement scheme in accordance with applicable Board of Energy Orders, the additional amount of P2 billion is hereby set aside from the existing Consumer Price Equalization Fund.
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 22nd day of July, in the year of Our Lord, Nineteen Hundred and Eighty Three.
Cite This Law
Claims of Oil Companies for Crude-Related Cost Reimbursements, Letter of Instructions No. 1346, Jul 22, 1983 (Philippines)
Claims of Oil Companies for Crude-Related Cost Reimbursements, Letter of Instructions No. 1346 (Phil. 1983)
Related Laws
- Allocation of Sum for Claims of Oil Companies for Crude-Related Cost ReimbursementsLetter of Instructions No. 1174 • Nov 16, 1981 • Presidential Issuances
- Release of Sum To Meet Additional Claims for Crude Surcharge Reimbursement to Oil CompaniesLetter of Instructions No. 1036 • Jun 5, 1980 • Presidential Issuances
- 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
- Guidelines in the processing of additional as well as foreign owned crude oilLetter of Instructions No. 1352 • Sep 8, 1983 • Presidential Issuances
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