Pangilinan-led PXP Energy Corporation is seeking anew the imprimatur of the government to recommence its targeted petroleum exploration activities at the “unsettled waters” of the West Philippine Sea. “PXP and Forum will continue to coordinate with the government on the resumption of...
Proposed joint oil exploration at WPS seen hitting snag By MYRNA M. VELASCO The targeted joint oil and gas exploration at the diplomatically-contested West Philippine Sea could end up to be a "dead proposition, that is, if the country has to take its cue from the recent decision of the Supreme...
Owing to higher electricity sales and the uptick in oil prices, Yuchengco-led PetroEnergy Resources Corporation (PERC) has posted 31-percent income jump to P506 million in the first half this 2022 from leaner P386 million in the same period last year. “The robust financial performance was largely...
The Department of Energy (DOE) will re-take "baby steps" and will push for "corrective policies" to entice fresh capital flow in the country’s upstream oil and gas sector, especially in areas not encumbered by territorial disputes. “I think we don’t even have to look far into the West...
PXP Energy Corporation, an upstream petroleum company chaired by business tycoon Manuel V. Pangilinan, will be renewing its coordination with the government on its plan to resume oil and gas exploration activities within offshore Palawan basin -- including that of the diplomatically-saddled Recto...
Following the government’s announcement that it already terminated its joint oil exploration talks with China, the Department of Energy (DOE) indicated that Pangilinan-led PXP Energy Corporation can now proceed with its oil and gas exploration activities at the Recto Bank. In a statement to the...
Pangilinan-led PXP Energy Corporation has affirmed declaration of force majeure on its programmed exploration activities at petroleum blocks in diplomatically-contested domains, including Recto Bank at the West Philippine Sea (WPS), following a recent order by the Department of Energy suspending...
Pitkin Petroleum Limited (PPL), a subsidiary of Pangilinan-led PXP Energy Corporation, has entered into a ‘settlement agreement’ with the subsidiary corporate-entity of its Australian partner Karoon Energy Ltd. paving the way for the resolution of their dispute over a petroleum exploration...
