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In continuation of its ongoing investigation into the massive oil theft shrinking the country's revenue in the downstream sector, the Adhoc committee of

  An Adhoc Committee of the House of Representatives has alleged that some arrested ocean vessels involved in massive underhand dealings had the tacit approval of the Nigerian National Petroleum Corporation Limited (NNPCL).   The House of Representatives ad hoc committee investigating crude oil theft had insisted on the appearance of the Group Chief Executive Officer of NNPCL and others before the committee.  

Oil Theft: NNPC, FIRS, NIWA, Others Evade Appearance Before Reps’ Committee

Tycoon Enrique Razon defended the renewal of the contract to operate the Malampaya deep water gas-to-power project, saying that it is a critical step toward averting a looming power crisis in the country.

“This is the key to our drive to energy security and calculated to advance the nation’s energy interest. This project will reduce our dependence on oil imports while ensuring a stable supply of energy,” Marcos said during the signing ceremony in Malacañang Palace.