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Scrap Malampaya gas contract — Bayan Muna By Charlie V. Manalo 06/08/2012

Friday, June 8, 2012

Scrap Malampaya gas contract — Bayan Muna

By Charlie V. Manalo 06/08/2012

A member of the House of Representatives yesterday called for a complete rejection of the planned 13-year extension of the multibillion-peso Malampaya-Comago gas contract for being both unconstitutional and a sell out in favor of foreign contractors, and which may hike 100 times the cost of putting up new oil wells.

In a privilege speech delivered before Congress went on adjournment sine die, Bayan Muna Rep. Nery Javier Colmenares called for a congressional investigation into the allegedly onerous terms and conditions of Service Contract 38 and the move of the Department of Energy (DoE) and the Philippine National Oil Corp. (PNOC) to push for a contract extension notwithstanding the defects of the current deal.

Under Service Contract 38 for the extraction of natural gas in Malampaya, Colmenares said, the government gets a “measly 10-percent” share of the production whereas its partners, Shell and Chevron divide between them the remaining 90 percent..... MORE

SourceThe Daily Tribune

URL: http://www.tribuneonline.org/nation/20120608nat6.html

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