NextGen Day

President Rodrigo Duterte lambasted a Senate resolution recommending charges against Department of Energy (DOE) Secretary Alfonso Cusi and other officials over the clearance of an allegedly anomalous sale of Malampaya gas field shares.

Duterte said in a statement that the Senate’s ratification of the resolution causes him “great concern,” because it reflects “undue, unfair, and unwarranted aspersion” on top DOE officials.

“The government recognizes the Malampaya Gas Field’s important role and contribution to energy security. I will not allow this vital resource to be imperiled or entangled in the political machinations of a few Senate members “he stated

Cusi retains Duterte’s entire trust and confidence and will continue to lead the energy department, according to Duterte.

Despite the changes surrounding the share sale and purchase agreement, he emphasized that the national interest has been secured and the government’s rights have been preserved.

“I’m urging our legislators to guarantee that political intrigues and innuendoes do not damage our ability to compete. Leave commercial transactions to the business sector’s skilled hands. Let us honor their economic decisions while safeguarding our national interests “According to Duterte.

Senator Sherwin Gatchalian’s resolution suggests that Cusi and other DOE officials face criminal and administrative charges from the Office of the Ombudsman and the Civil Service Commission for authorizing and recommending approval of the Chevron Philippines-UC Malampaya transaction.

UC Malampaya, an indirect subsidiary of Udenna Corporation, allegedly railroaded the approval of the sale of Chevron Malampaya LLC Philippines’ 45-percent participating interest in the Malampaya gas project, now known as UC 38 LLC, to UC Malampaya, an indirect subsidiary of Udenna Corporation, despite the lack of financial qualification, according to Gatchalian.

Duterte, on the other hand, claimed that the sale and acquisition of Chevron Malampaya LLC stock was a private transaction between private organizations that ought to be respected.

He also stated that both international and domestic investments are “critical” to the economy’s success.

“We compete with other countries for them,” he continued, “and my capacity to do so needs me to build and sustain a climate that encourages investors to come in.”

While Duterte accepts the Senate’s ability to undertake legislative investigations in support of the legislation, he believes it should be utilized “prudently and circumspectly, free of irresponsible allegations, and focused on enhancing current laws.”

Save/Share this story with QR CODE

---

Disclaimer

This article is for informational purposes only and does not constitute endorsement of any specific technologies or methodologies and financial advice or endorsement of any specific products or services.

📩 Need to get in touch?

📩 Feel free to Contact NextGenDay.com for comments, suggestions, reviews, or anything else.

---

We appreciate your reading. 😊Simple Ways To Say Thanks & Support Us:
1.) ❤️GIVE A TIP. Send a small donation thru Paypal😊❤️
Your DONATION will be used to fund and maintain NEXTGENDAY.com
Subscribers in the Philippines can make donations to mobile number 0917 906 3081, thru GCash.
3.) 🛒 BUY or SIGN UP to our AFFILIATE PARTNERS.
4.) 👍 Give this news article a THUMBS UP, and Leave a Comment (at Least Five Words).

---

AFFILIATE PARTNERS

World Class Nutritional Supplements - Buy Highest Quality Products, Purest Most Healthy Ingredients, Direct to your Door! Up to 90% OFF.
Join LiveGood Today - A company created to satisfy the world's most demanding leaders and entrepreneurs, with the best compensation plan today.

---