Lopez-led First Gen Corporation registered a flat growth in income at P12.4 billion ($252 million) last year due to uncertainties ignited by soaring fuel prices in the world market that had impacted the overall operation of its electric generating assets. The company qualified that while it...
Infrastructure development firm Atlantic, Gulf & Pacific International Holdings (AG&P) inked an 11-year charter agreement with ADNOC Logistics and Services (ADNOC L&S) of the United Arab Emirates (UAE) for the supply, operations and maintenance of a floating storage unit (FSU) for the...
The board of ACE Enexor Inc., Ayala group’s listed oil and gas unit, will reorganize with new President and Director, Rolando “Don” J. Paulino. Paulino, who was previously the managing director in Shell Philippines Explporation B.V. (SPEX), the operating entity of the multi-billion Malampaya...
The board of directors of ACE Enexor Inc., the oil and gas unit of the Ayala group, has authorized the company to secure funds for its planned shares subscription into the amalgamated Batangas Clean Energy Inc. (BCE) power project and liquefied natural gas (LNG) import facility. Alongside the...
Local firm Vires Energy Corporation (VEC) has tapped the consortium of foreign firms Seanergy Singapore and London Marine Consultants to serve as owner’s engineer at the commissioning stage of the company’s proposed integrated liquefied natural gas (LNG) import terminal and power plant project....
Ayala-led ACE Enexor Inc. is finalizing plans on its acquisition of 50 percent stake in the Batangas Clean Energy Inc. (BCE), the corporate vehicle of the integrated liquefied natural gas (LNG) import terminal and power project initiated by the Lucio Tan group and approved by the Department of...
Generating facilities feeding on liquefied natural gas (LNG) will be playing a ‘critical role’ in the energy transition from coal-fired power as envisioned by the government. For that vision to be concretized though, Jonathan Russell, executive vice president and chief commercial officer of...
The energy crisis distressing major economies of the world has prompted the Department of Energy (DOE) to reassess its impact in the country primarily on highly probable ‘price shocks’ this may cause on the ‘energy transition to a low-carbon future’ that the government has been pushing for....
The Department of Energy (DOE) disclosed that it already approved the permit-to-construct application of Atlantic Gulf & Pacific Company (AG&P), and the agency is eyeing that this will be the first liquefied natural gas (LNG) import facility that will reach commercial operations by second...
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...
Miami-headquartered private equity firm I Squared Capital is injecting US$300 million capital investment into an affiliate firm of oil and gas company Atlantic Gulf & Pacific Company (AG&P), which is currently pursuing various projects in the gas sector. 28032 In a statement to the media,...
The construction completions of several offshore liquefied natural gas (LNG) import terminal projects in the country are facing slight delays because of the Covid-related mobility restrictions, according to a status report issued by the Department of Energy. The DOE reckoned that LNG facility...
