UK PRESS: Oil Prices Force Philippines Working Week Cut

LONDON -(Dow Jones)- The Philippines government has shortened its official
working week from five days to four to reduce energy demand, as part of an
attempt to lower its crude imports of 300,000 barrels a day, reports the
Financial Times.

http://www.ft.com

UK PRESS: Oil Prices Force Philippines Working Week Cut

LONDON -(Dow Jones)- The Philippines government has shortened its official
working week from five days to four to reduce energy demand, as part of an
attempt to lower its crude imports of 300,000 barrels a day, reports the
Financial Times.
“The current high prices of oil in the world market make it imperative
that we conseve energy and the government has to head the way in its effort,”
explained Energy Secrtary Raphael Lotillla.
The move is the latest sign of mounting concern among developing
countries, particularly in Asia, over the sharp rise in oil consumption in a
climate of high crude prices, the paper said.
Newspaper website: http://www.ft.com