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...
A subsidiary-company of SN Aboitiz Power Inc. (SNAP) has filed a motion for reconsideration on the fines imposed by the Energy Regulatory Commission (ERC) on alleged ‘forced outage breach’ of its Ambuklao-Binga hydro power plant in Benguet. SNAP- Benguet said the regulator-enforced...
Budding energy firm Solar Philippines Nueva Ecija Corporation (SPNEC) has secured the approvals of the Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE) on its initial public offering (IPO) this year. The designated issue manager and lead underwriter for the planned...
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,...
After last week’s relief on consumers’ pockets, motorists using gasoline products on their vehicles can continue to breathe easy as this commodity will have another hefty rollback of more than P1.00 per liter next week. Based on calculations by industry players, the widely used 92 RON unleaded...
Manila has outlined its envisioned path towards a sustainable energy future during the Energy Transition Partnership event at the ongoing 26th United Nations (UN) Climate Change Conference of the Parties (COP26) in Glasgow, Scotland. In his presentation, Energy Undersecretary and Spokesperson Felix...
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 Department of Energy (DOE) has steered clear of any commitment to phase out coal-fired power plants in the Philippines, as stipulated in its pledge to the ongoing 26th Conference of the Parties (COP) Climate Change Summit in Glasgow, Scotland. In a formal correspondence to Alastair Totty,...
The Department of Energy (DOE) on Saturday, Nov. 6, reiterated the country's commitment to gradually transition from fuel energy into clean energy as the country participates in the 2021 United Nations Climate Change Conference or COP26. In a statement, the agency said "nothing has changed" with...
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...
The Philippine government will need to shell out more than P330 billion if it will concretize its plan to ‘buy out’ coal plants in Mindanao grid as part of the country’s commitment for carbon emissions reduction at the 26th Conference of the Parties (COP 26) of the United Nations Climate...
