Release of Sum To Meet Additional Claims for Crude Surcharge Reimbursement to Oil Companies
Letter of Instructions No. 1036, issued on June 5, 1980, authorizes an additional P1.5 billion from the Special Fund to support crude surcharge reimbursements to oil companies, as previous allocations of P1,325 million are nearly exhausted. This funding is in line with existing Board of Energy orders and is intended to ensure the continuity of the reimbursement mechanism. The Ministry of Energy is required to issue reimbursement certificates to oil companies based on actual surcharges, while maintaining allocations for energy exploration and related purposes. Additionally, the Ministry must provide periodic reports on the reimbursement certificates issued. The instructions take effect immediately.
Law Information
- Reference Number
- Letter of Instructions No. 1036
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
June 5, 1980
LETTER OF INSTRUCTIONS NO. 1036
| TO | : | The Minister of Energy |
| The Minister of Budget | ||
| The Treasurer of the Philippines |
The latest review conducted by the Ministries of Energy, Finance and Budget shows that the present amount of P1,325 million previously set aside from the Special Fund pursuant to Letters of Instruction No. 842, 969 and 975 is about to be fully utilized and is therefore insufficient to meet additional claims for crude surcharge reimbursement to oil companies as provided for under the February 8, 1980 and earlier Board of Energy orders. cdt
In order, therefore, to enable the Ministry of Energy to continue the crude surcharge reimbursement mechanism as required under existing Board of Energy orders, the additional amount of P1.5 billion is hereby authorized to be paid out of the Special Fund created under Section 8(j) of R.A. No. 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. The Ministry of Energy shall continue to issue reimbursement certificates to oil companies for actual crude surcharge within that ceiling, subject to the actual availability of resources in the Special Fund.
The Ministry of Energy is directed to submit to me periodic reports on reimbursement certificates actually issued to oil companies for crude surcharges incurred.
This Letter of Instructions shall take effect immediately. cd i
DONE in the City of Manila, this 5th day of June, in the year of Our Lord, Nineteen Hundred and Eighty.
Cite This Law
Release of Sum To Meet Additional Claims for Crude Surcharge Reimbursement to Oil Companies, Letter of Instructions No. 1036, Jun 5, 1980 (Philippines)
Release of Sum To Meet Additional Claims for Crude Surcharge Reimbursement to Oil Companies, Letter of Instructions No. 1036 (Phil. 1980)
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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
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- Claims of Oil Companies for Crude-Related Cost ReimbursementsLetter of Instructions No. 1346 • Jul 22, 1983 • Presidential Issuances
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