Shell takes $22 billion hit on lower oil, gas prices
LONDON — Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the…
Temporary tax measure on oil imports yields P1.49B in revenue
The additional 10-percent import duties temporarily slapped on certain oil products amid the COVID-19 crisis so far raised P1.49 billion in additional revenue for the government. Data provided by Finance…
Temporary 10 percent added duty on oil imports generates P1.49B
The additional 10-percent import duty temporarily slapped on some oil products amid the COVID-19 crisis so far raised P1.49 billion in additional revenues for the government. Data provided by Finance…
March dollar remittances drop as more Pinoys lose Middle East oil industry jobs
Dollars sent home by expatriate Filipinos declined in March, marking the first time that the impact of the coronavirus pandemic was manifested in monthly remittances which are a key pillar…
Libya’s oil company says largest oil field shut down again
Fighters loyal to Libya’s UN-recognised Government of National Accord stand atop a tank in the town of Tarhuna. (AFP) CAIRO — A unit affiliated with Libya’s east-based forces that have…
7.55B liters of oil marked as gov’t moves to buttress revenues
About half a billion liters of oil products were marked tax-paid in the first half of May, allowing the government to collect a higher levy on imports and shore up…
DOE eyes stockpiling of crude oil amid low global fuel prices
MANILA, Philippines — To take advantage of low global oil prices triggered by the coronavirus pandemic, the Department of Energy (DOE) is looking to stockpile crude oil to secure the…
BOC: 7.55B liters of oil products marked as of mid-May
Nearly half-a-billion liters of oil products was added to the volume of oil products marked as tax-paid in the first half of May as the government collected higher levy on…
Temporary tax on oil to boost by P20B PH’s response vs virus
The government is expected to raise P20 billion and boost the country’s war chest against the pandemic following President Duterte’s order to add a 10-percent duty on crude oil and…
BOC, heeding Duterte, adds 10 percent tax on oil imports to raise COVID-19 funds
The Bureau of Customs (BOC) will start collecting an additional 10 percent duty on oil imports, an essential product, following President Rodrigo Duterte’s directive to raise more funds for COVID-19…