Exploration and Development Program for Important Indigenous Energy Resources
Letter of Instructions No. 715, issued on June 26, 1978, directs the Philippine National Oil Company (PNOC) and its subsidiaries to pursue exploration and development of indigenous energy resources, specifically geothermal and coal, to enhance the country's energy self-reliance. The Treasurer of the Philippines is instructed to release ?191,500,000 from a Special Fund to support these initiatives. PNOC must utilize these funds for exploration and development activities and is required to report annually to the President on the disbursement and use of these funds. This directive takes immediate effect.
Law Information
- Reference Number
- Letter of Instructions No. 715
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 26, 1978
LETTER OF INSTRUCTIONS NO. 715
| TO | : | The Secretary of Energy |
| The Commissioner of the Budget | ||
| The Treasurer of the Philippines | ||
| The Chairman, Philippine National Oil Company |
In pursuance of the country's energy development program, the objective of which is to develop self-reliance in energy, PNOC and its subsidiaries have embarked on an exploration and development program for important indigenous energy resources like geothermal and coal.
While funding sources and available for the actual development of these resources and the production of energy therefrom, funding assistance would be required in the exploration and drilling operations. Accordingly, the Treasurer of the Philippines is hereby directed to release One hundred ninety-one million, five hundred thousand pesos (P191,500,000) out of the Special Fund created pursuant to Section 8 (j) of Republic Act No. 6173 as amended, to PNOC.
PNOC is directed to utilize the said sum and/or earnings therefrom in connection with its geothermal and coal exploration and development programs.
The PNOC is also directed to submit to the President of the Philippines not later than the end of each year a report accounting for the disbursement and the utilization of the foregoing funds.
This Letter of Instruction shall take effect immediately.
DONE in the City of Manila, this 26th day of June, in the year of Our Lord, Nineteen Hundred and Seventy-Eight.
Cite This Law
Exploration and Development Program for Important Indigenous Energy Resources, Letter of Instructions No. 715, Jun 26, 1978 (Philippines)
Exploration and Development Program for Important Indigenous Energy Resources, Letter of Instructions No. 715 (Phil. 1978)
Related Laws
- Release of Funds for Exploration and Drilling Operations of Indigenous Energy ResourcesLetter of Instructions No. 1079 • Nov 3, 1980 • Presidential Issuances
- Dispensing with the Conditions Under P.D. No. 1585 (s. 1978) Re: Exploration, etc. of Indigenous Energy ResourcesLetter of Instructions No. 924 • Aug 30, 1979 • Presidential Issuances
- Promoting the Exploration and Development of Geothermal ResourcesPresidential Decree No. 1442 • Jun 11, 1978 • Presidential Issuances
- Accelerating the Research, Development and Utilization Non-Conventional Energy ResourcesPresidential Decree No. 1068 • Jan 13, 1977 • Presidential Issuances
- Creating the Energy Development BoardPresidential Decree No. 910 • Mar 22, 1976 • Presidential Issuances
- Authorizing the Secretary of Energy to Enter into Agreements for the Exploration, Development and Use of Mineral ResourcesExecutive Order No. 751 • Sep 15, 2008 • Presidential Issuances
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