Bill Type
House Bill
Congress Name
11th Congress of the Republic
Long Title
AN ACT RESTRUCTURING THE OIL INDUSTRY BY ESTABLISHING A NATIONAL OIL EXCHANGE, AND FOR OTHER PURPOSES
Congress Author
GARCIA, ENRIQUE JR. T.
Date filed
November 3, 1999
Scope
NATIONAL
Urgent Bill
No

Legislative History

House Bill/Resolution NO. HB08710
FULL TITLE : AN ACT RESTRUCTURING THE OIL INDUSTRY BY ESTABLISHING A NATIONAL OIL EXCHANGE, AND FOR OTHER PURPOSES
ABSTRACT : Within three (3) months from the efectivity of this Act, a government-owne d and controlled corporation to be named as the National Oil Exchange Corporation (NOEC) shall be established. The NOEC shall determine the country's total monthly requirements for refined petroleum products, and shall exclusively handle all the purchases, storages and distributions thereof to distributors, wholesalers, retailers and big bulk consumers throughout the country.
PRINCIPAL AUTHOR/S : GARCIA, ENRIQUE JR. T.
DATE FILED : 1999-11-03
SIGNIFICANCE: NATIONAL
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AUTHORSHIP WITHDRAWALS:
(1999-12-15)
(2000-02-29)
(2000-09-20)
()
ADMINISTRATION BILL? No
URGENT BILL? No
ACTIONS TAKEN BY THE COMMITTEE
MOTHER BILL: HB12052
ACTIONS TAKEN BY THE COMMITTEE ON RULES
REFERRAL TO THE COMMITTEE ON GOVERNMENT ENTERPRISES AND PRIVATIZATION ON 1999-11-15
SECONDARILY REFERRED TO THE COMMITTEE(S) ON APPROPRIATIONS

Abstract

Within three (3) months from the efectivity of this Act, a government-owne d and controlled corporation to be named as the National Oil Exchange Corporation (NOEC) shall be established. The NOEC shall determine the country's total monthly requirements for refined petroleum products, and shall exclusively handle all the purchases, storages and distributions thereof to distributors, wholesalers, retailers and big bulk consumers throughout the country.

Disclaimer

Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.