The tender offer (TO) of the common shares of First Gen Corporation that can be unloaded or sold by its outstanding shareholders had been priced at P33 per share, according to a report filed by bidder Philippine Clean Energy Holding Inc. with the Securities and Exchange Commission. “The tender...
Lopez-led First Gen Corporation will be unloading approximately 8.7 percent of aggregate issued and outstanding common shares via a tender offer process that its prospective taker will be applying with regulators soon. In a formal notice, investor Philippines Clean Energy Holdings Inc. (PCEHI) has...
At least three liquefied natural gas (LNG) import facilities that are anchored on floating storage and regasification units (FSRUs) will start competing for the Philippine gas market next year. Already head-to-head in the race are the proposed LNG offshore facilities of First Gen Corporation...
Lopez-led First Gen Corporation sustained its robust profitability and that enabled it to post 11-percent net income hike in the first half to P7.1 billion ($148 million) versus a leaner P6.7 billion ($133 million) in the same period last year. The company’s rise in earnings, according to First...
In the cutthroat contest of the retail competition and open access (RCOA) regime of the restructured electricity sector, First Gen Corporation scored another win by cornering Manila Polo Club as its new retail power customer. First Gen will be supplying the electricity needs of the premiere leisure...
Lopez-led First Gen Corporation has beefed up anew its retail electricity market portfolio after signing up Menarco Development Corporation (Menarco), a company controlled by businessman Menardo Jimenez, as its new customer. The Lopez company said Menarco preferred sourcing its power needs from a...
As gas restriction predicament at the Malampaya field recurred on Monday (June 21), the country’s gas plants have been adversely impacted anew on their electricity generation and that prompted either de-rating of their capacity or they needed to shift to condensate fuel. According to sources, the...
As the Department of Energy (DOE) is not really keen on fixing the country’s power supply problems, Luzon grid may brace for another ‘perfect storm’ that could lead to brownouts and rate hikes with the scheduled 20-day turnaround shutdown of the Malampaya gas field in October this year. The...
Uy-led firm Phoenix Petroleum Philippines Inc. has denied interest to buy the ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that shall be extracted from the Malampaya field. It was no less than PNOC President and CEO Reuben S. Lista who indicated that Phoenix Petroleum is...
Lopez-led First Gen Corporation was considerably in auspicious state last year on its financial performance, as its earnings had just declined by marginal 7.0-percent to P13.7 billion (US$276 million) from P15.4 billion (US$296 million) in 2019. “The company managed the challenges that arose...
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...
