Bill Type
Congress Name
Long Title
AN ACT REGULATING THE DOWNSTREAM PETROLEUM INDUSTRY AND FOR OTHER RELATED PURPOSES
Text as filed (link)
Date filed
July 1, 2013
Scope
Legislative History
| House Bill/Resolution NO. HB00173 | |
| FULL TITLE : AN ACT REGULATING THE DOWNSTREAM PETROLEUM INDUSTRY AND FOR OTHER RELATED PURPOSES | |
| SHORT TITLE : Downstream Oil Industry Regulation Act | |
| ABSTRACT : Requires the regulation of the petroleum industry through the creation of a petroleum regulatory council and a buffer fund which shall instead solely serve to cushion consumers against drastic increases in petroleum prices - unlike the Oil Price Stabilization Fund (OPSF) that reimbursed oil companies for "cost under-recoveries." | |
| PRINCIPAL AUTHOR/S : COLMENARES, NERI | |
| DATE FILED : 2013-07-01 | |
| SIGNIFICANCE: NATIONAL | |
| NATURE : Economic | |
| CO-AUTHORS : | |
| 1. Zarate | 2. Ilagan |
| 3. De Jesus | 4. Tinio |
| 5. Hicap | 6. Ridon |
| CO-AUTHORS (Journal Entries) : | |
| 1. Reyes (037 2014-01-20) | 2. Suansing (037 2014-01-20) |
| 3. Ty (038 2014-01-21) | 4. Garcia (G.) (038 2014-01-21) |
| 5. Sy-Alvarado (039 2014-01-22) | 6. Ong (039 2014-01-22) |
| 7. Uy (J.) (039 2014-01-22) | 8. Almario (041 2014-01-28) |
| 9. Apostol (042 2014-01-29) | 10. Pacquiao (042 2014-01-29) |
| 11. Arenas (042 2014-01-29) | 12. Dela Cruz (042 2014-01-29) |
| 13. Bataoil (043 2014-02-03) | 14. Belmonte (V.) (044 2014-02-04) |
| 15. Bonoan (045 2014-02-05) | 16. Paquiz (045 2014-02-05) |
| 17. Angara-Castillo (046 2014-02-10) | 18. Dy (047 2014-02-11) |
| 19. Fernandez (052 2014-02-24) | 20. Albano (055 2014-03-10) |
| 21. De Venecia (055 2014-03-10) | 22. Hagedorn (059 2014-05-13) |
| 23. Echiverri (069 2014-06-09) | |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES | |
| REFERRAL TO THE COMMITTEE ON ENERGY ON 2013-07-23 |
Abstract
Requires the regulation of the petroleum industry through the creation of a petroleum regulatory council and a buffer fund which shall instead solely serve to cushion consumers against drastic increases in petroleum prices - unlike the Oil Price Stabilization Fund (OPSF) that reimbursed oil companies for "cost under-recoveries."
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.