Sign up | Log in



Energy agency seeks 1bn peso


September 20, 2008

Philippines: Energy agency seeks 1bn peso
Philippine Department of Energy has proposed a P1-billion budget during a hearing at the House of Representatives to fund programmes aimed at helping the country achieve energy security, reported local newspaper the Manila Times.

The paper quoted Energy Seceretary Angelo Reyes as saying that the oil supply crunch seems inevitable, thus the need to adopt measures meant to ensure energy security.

“As our country’s oil consumption increases, from 11.7 million tons of oil equivalent in 2006 to 13 [million] in 2007, we have institutionalized several measures to secure our energy supply. One way to achieve this is to harness our own indigenous energy resources,” he said.

In the budget hearing this week, Reyes said these programs are anchored on a strategy of ensuring a comprehensive, integrated, responsive and consistent energy policy; identifying and achieving the optimal energy mix; promoting green and clean energy; continuing the implementation of social mobilization and monitoring mechanisms at the local and regional levels; establishing a research and development program on energy; and developing human resource capacity.

Last year, the Philippines’ primary energy mix reached 39.4 million tons of oil equivalent. The country’s self-sufficiency level hit 56 percent, a slight increase from the 2006 level of 55.4 percent. In both years, the share of imported oil and coal accounted for over 44 percent of the supply mix. The rest was produced locally, mainly from geothermal (22.3 percent), biomass (over 14 percent) and natural gas (7 percent).

For next year, the Energy department plans to further draw investments in the upstream sector through the Philippine Energy Contracting Round. In the natural gas industry, it plans to develop strategic infrastructure and conduct information campaign activities to promote its use in all demand sectors.

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand