Reducing the special duties on crude oil and oil products prescribed in EO no. 115, s. 1993.

Creating the Philippine Dendro Gasifier Corporation and providing funds therefor

Amending Sections 153, 155 and 156 of Title IV (Specific Taxes) of the National Internal Revenue Code of 1977, as amended

Reminding all concerned of the obligation to file their sworn Statements of Assests and Liabilities under Republic Act no. 3019, as amended.

AN ACT DEREGULATING THE DOWNSTREAM OIL INDUSTRY, AND FOR OTHER PURPOSES.