Cusi said in the letter that the prison foundation of the DOE’s role is contained in Presidential Decrees 87 and Presidential Decree 1459 and “in mild of those stable felony foundations, we entertain no question in any way on the legality of our position on this matter.”
The previous DOE administrations were pushing for COA to honor the contracts of the Malampaya gas undertaking, as failing to achieve this would have a harmful effect at the upstream exploration industry and send the incorrect sign to foreign buyers.
Cusi said petroleum exploration nowadays dismally stays at 33 percent as compared to other Southeast Asian international locations, which are particularly very an awful lot higher.
“In the face of these daunting challenges, of the foremost consideration in the mind of foreign traders in identifying wherein to make investments is the predictability, certainty and consistency of funding regulations and the regulatory regime of a rustic,” the electricity leader said.
“It is therefore of funda0mental significance that we take a look at the sanctity of contracts in our business transactions,” Cusi said.
FOREX MARKET 