The royalty share of the Philippine government from the Malampaya project’s operations has so far reached $11.7 billion, significantly higher than the $8 billion estimate when the gas field started commercial operation in 2001. The Malampaya gas field uses an innovative and sustainable deepwater...
Motorists are expected to shell out extra cash in their fuel budgets next week, as pump prices of gasoline are expected to increase slightly by P0.15 to P0.25 per liter. MB file photo. (Mark Balmores) Based on initial calculations of industry players, diesel could have a very marginal increase of...
Ayala-owned AC Energy Philippines Inc. (ACEN) will be investing P250 million in its subsidiary firm Buendia Christiana Holdings Corporation (BCHC) via shares subscription arrangement. The company disclosed to the Philippine Stock Exchange (PSE) that it already signed a subscription agreement with...
The Department of Energy (DOE) has started awarding the last batch of degressed feed-in-tariff (FIT) incentives to qualified biomass and run-of-river hydropower projects that reached commercial operations on the prescribed cut-off date last year. Energy Secretary Alfonso G. Cusi The recent round of...
Independent player Seaoil reached a milestone recently with the commercial completion of its 500th station, and this has been serving as its stimulus to pursue further expansion on a target to reach 600 stations by yearend. The new retail station is sited along Meralco Avenue in San Antonio, Pasig...
Bad luck may have come in threes as the privatization of the 650-megawatt Malaya thermal power plant failed anew on Wednesday (September 23) on its third bid round, therefore, it is prompting asset-seller Power Sector Assets and Liabilities Management Corporation (PSALM) to re-evaluate the...
Private transmission firm National Grid Corporation of the Philippines (NGCP) is re-evaluating the impact of the coronavirus pandemic, primarily on its major projects like the P52 billion Mindanao-Visayas Interconnection Project. In a statement to the media, the company said it is “eager to...
State-run Philippine National Oil Company (PNOC) has initially sounded off interest in the 45-percent shareholdings of Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya gas field venture. PNOC President and CEO President Reuben S. Lista indicated that there was an initial...
The gnawing coronavirus pandemic we’re wrestling with puts in view the fragility of any country – the crisis stirred up extreme socio-economic conundrum that will push not just government leaders but also the citizens to re-think policies and life choices moving forward. In the Philippines, the...
The Department of Energy (DOE) is offering another petroleum block to interested investors, this time the prospect straddles offshore Cotabato basin in Mindanao. The block, according to the department, was nominated by an investor-group and it will be placed on a 60-day competitive challenge before...
To sort out pricing The Department of Energy (DOE) is pushing for new amendments to Republic Act 8479 or the Downstream Oil Industry Deregulation Act – and the specific agenda this time is to define “fair pricing adjustment” at the retail pumps. In a budget hearing in Congress, DOE Assistant...
The 414-megawatt San Gabriel gas-fired power plant of First Gen Corporation has been on forced outage due to ‘tripping’ or technical glitch, hence, its capacity is not being made available to the grid. “Unit 70 of the company’s 414MW San Gabriel combined cycle power plant tripped on...
