The Department of Energy (DOE) has admitted that it used an unaudited financial statement of a subsidiary-company of Udenna Corporation as the government’s basis in evaluating the firm’s financial capacity as well as in approving the latter’s acquisition of the 45-percent stake of American...
The Singapore-incorporated Malampaya Energy XP Pte. Ltd., a subsidiary of Udenna Corporation of businessman Dennis Uy, which is buying the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field venture, has just US$100 (or P5,000) capitalization, as revealed in a...
Multinational giants Chevron Corporation and Royal Dutch Shell have pocketed over P350 billion in revenues from the Malampaya gas field project prior to their respective exits from the venture. As culled from government documents, the royalty share of the two foreign energy giants had been on top...
Consumers will need to allot more cash for their fuel budgets this week, as the price of gasoline products will rise again by P0.60 per liter this week; while diesel will increase slightly by P0.10 per liter. The oil companies advised though that the price of kerosene will be on a marginal rollback...
The Department of Energy (DOE) is being urged to exercise ‘utmost transparency’ on its anticipated approval of the 45-percent Malampaya equity divestment of Shell Philippines Exploration B.V. (SPEX) to Malampaya Energy XP Pte. Lt., a subsidiary of Udenna Corporation owned by businessman Dennis...
It’s a bit of mid-year sting on consumers’ pockets; as gasoline prices will rise by a hefty P1.00 per liter this week; while diesel prices will have upward adjustment of P0.65 per liter. Another fuel commodity kerosene will also have higher prices this week by a scale of P0.70 per liter, as...
With continued rally in prices in the world market, Filipino consumers will need to cough up heftier budgets this week for their fuel usage, as the price of gasoline will increase by P0.75 per liter; and diesel by P0.70 per liter. The other commodity that will have higher price this week is...
Filipino motorists will need to cough up higher budgets for their fuel consumption this week, as the price of gasoline had gone up by P0.50 per liter; and diesel by P0.40 per liter, according to the pricing advisories sent by the oil companies. The oil industry players have similarly adjusted...
The pockets of Filipino consumers will be burdened with higher prices again at the petroleum pumps this week; as based on upward adjustments announced by the oil companies. In pricing notices sent to the media and the Department of Energy, the oil firms indicated that diesel prices will go up by...
It’s another punishing week in the pockets of motorists as gasoline prices will rise by P0.80 per liter; while the cost of diesel will be hiked by P0.40 per liter, based on pricing advisories sent to the Department of Energy and the media. Kerosene, which is another commodity in the weekly...
Some of the country’s oil companies have increased their gasoline prices by P0.15 per liter – instead of enforcing a rollback, mainly because they maximized cost recovery of ethanol price adjustments as a blend to that fuel commodity. For diesel products, prices have likewise been increased by...
Davao businessman Dennis A. Uy will be paying colossal $1.025 billion for the 90 percent stake in the Malampaya project, which gas production is expected to start depleting next year. Udenna Corporation's UC 38 LLC first paid $565 million for the 45-percent shareholdings of American giant Chevron...
