The Udenna Corporation of Davao businessman Dennis A. Uy strongly denied accusations that the company took out cash from the Malampaya revenues, which in turn, was allegedly used to pay for its acquisition of the 45 percent shareholdings of US firm Chevron Corporation in the Philippine gas field...
Oil firms asked to explain lower-than-calculated gasoline rollback Myrna M. Velasco The Department of Energy (DOE) is seeking explanation from the oil companies why they have just implemented P0.90 per liter rollback in gasoline prices, which is lower than the calculated P1.10 to P1.20 per liter...
Dennis Uy breaks silence; claims US$191-M capitalization in Malampaya buy By Myrna M. Velasco Davao businessman Dennis A. Uy finally broke his silence to refute allegations of "negative working capital" as he claimed that his Udenna subsidiaries have $191 million capitalization, not $100 million,...
Filipino consumers can lean on interim financial relief this week, as the price of gasoline products had been rolled back by P1.00 per liter; and diesel prices by P0.60 per liter, as announced by the oil companies. Similarly, the price of kerosene commodity, which is a base for aviation fuel and...
The volume of gas that can be supplied by the Malampaya field will drop to 1,000 megawatts of equivalent power capacity in 2024, which is also the timeframe for the expiration of the project’s Service Contract (SC) 38, if no license extension is extended by the government. According to Atty...
Filipino households relying on liquefied petroleum gas (LPG) for their cooking chores will need to allocate higher budget, as the price of that product had been increased by P3.10 per kilogram (kg) or an aggregate P34.10 for the standard 11-kilogram cylinder. The other fuel commodity that will rise...
Paychecks of Filipino consumers will be squeezed further as fuel products start adjustments of P1.15 per liter for gasoline and P0.45 per liter for diesel, as announced by the oil companies. The price of kerosene, another commodity which is essential for household and relevant industries like...
The financial burden of consumers on their fuel needs will rise anew by significant amount this week, with gasoline prices increasing by P1.80 per liter, as announced by the oil companies. The price of diesel products will also be on uptrend to the tune of P1.50 per liter; while kerosene products...
‘Red flag’ is being raised anew by Senate Committee on Energy Chairman Sherwin T. Gatchalian on the financial capacity of cash-strapped Udenna Corporation to acquire the 45 percent stake of Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya gas-to-power venture. The...
As global prices lingered at multi-year highs, fuel prices at Philippine pumps will increase by P1.30 per liter for gasoline and P1.50 per liter for diesel, as announced by the oil companies. The prices of kerosene products will also have an upswing of P1.45 per liter in this week’s pricing...
Filipino motorists will bear the financial brunt of big-time price hikes for petroleum commodities this week as the retail costs of diesel and kerosene will go up by P2.05 per liter, as announced by the oil companies. Gasoline product prices, on the other hand, will also be higher by P1.45 per...
The Department of Energy (DoE) will be legally accountable if it will push through with the targeted ‘midnight deal’ for the license extension of the Malampaya gas field project, that in the process will primarily benefit Malampaya Energy XP Pte Ltd, a company of Davao businessman Dennis Uy. In...
