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Oil traders, Houston, 2009 Nominal price of oil from 1861 to 2020 from Our World in Data. The price of oil, or the oil price, generally refers to the spot price of a barrel (159 litres) of benchmark crude oil—a reference price for buyers and sellers of crude oil such as West Texas Intermediate (WTI), Brent Crude, Dubai Crude, OPEC Reference Basket, Tapis crude, Bonny Light, Urals oil ...
The PCA was empowered to collect a levy of P0.55 per 100 kilograms on the sale of copra to be used to stabilize the domestic price of coconut-based consumer goods, particularly cooking oil. In 1974, the government created the Coconut Industry Development Fund (CIDF) to finance the development of a hybrid coconut tree. [79]
Motor oil is used for the lubrication, cooling, and cleaning of internal combustion engines. Motor oil may be composed of only a lubricant base stock in the case of mostly obsolete non-detergent oil, or a lubricant base stock plus additives to improve the oil's detergency, extreme pressure performance, and ability to inhibit corrosion of engine ...
The Philippines' exports income had begun growing in the early 1970s due to an increased global demand for raw materials, including coconut and sugar, [1] [15] and the increase in global market prices for these commodities coincided with the declaration of martial law, allowing GDP growth to peak at nearly 9 percent in the years immediately ...
The economy grew amidst the two severe global oil shocks following the 1973 oil crisis and 1979 energy crisis – oil price was $3 / barrel in 1973 and $39.5 in 1979, or a growth of 1200% which drove inflation. Despite the 1984–1985 recession, GDP on a per capita basis more than tripled from $175.9 in 1965 to $565.8 in 1985 at the end of ...
Ford's history in the Philippines can be traced back to 1929. Ford Philippines, Inc. (FPI) was established as a subsidiary of the Ford Motor Company in 1967 and began production operations on May 3, 1968. Ford left the market in 1984 due to the local economic recession. The brand came back in 1997 as Ford Group Philippines, Inc. (FGPI).
This is an accepted version of this page This is the latest accepted revision, reviewed on 12 February 2025. Economy of Philippines Metro Manila, the economic center of the Philippines Currency Philippine peso (sign: ₱; code: PHP) Fiscal year Calendar year Trade organizations ADB, AIIB, AFTA, APEC, ASEAN, EAS, G-24, RCEP, WTO and others Country group Developing/Emerging Lower-middle income ...
PNOC Exploration Corporation is the upstream oil, gas and coal subsidiary of the state-owned Philippine National Oil Company. A government owned and controlled corporation, the Company was incorporated on April 20, 1976, and is mandated by the government through the Department of Energy (DOE) to take the lead in exploration, development and production of the country’s oil, gas and coal ...