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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 781 |
The National Treasury
The Philippine National Oil Co.
SUBJECT : Fund Requirements for the Newly-Created Energy Supply Base to Service Petroleum and Other Energy-Related Operations in the Philippines
1.
Further to LOI No. 563 directing the Philippines National Oil Company
to establish and operate an internationally acceptable Energy Supply
Base to service the petroleum and other energy-related operations in
the Philippines, the Philippine National Oil Company is likewise
directed to expand and upgrade facilities at the adequate logistical
support for ongoing and future exploration projects.
2.
Accordingly, the Budget Ministry and the National Treasury are hereby
directed to provide and release funds to the Philippine National Oil
Company amounting to Twenty Million Pesos (P20,000,000.00) immediately
on the date hereof, for said purpose to be disbursed out of the Special
Fund created under Sec. 8 (j) of R.A. 6173 as amended.
3. This Letter
of Instruction shall take effect immediately.
DONE in the City of Manila, this 7th day of December, in the Year of Our Lord Nineteen Hundred and Seventy-Eight.
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