Yuchengco-led PetroEnergy Resources Corporation (PERC) said its nine-month net income increased by 30 percent to P544 million from P417 million in the same period last year. From that scale of profitability, the energy firm’s net income went up by a significant 60 percent to P323 million from the...
A new private sector-led global organization is exploring a possible country partnership with the Philippines to assist in hastening its transition to green and renewable energy (RE) sources, the Department of Finance (DOF) said. In a statement, the DOF said on Friday, Nov. 12, that Finance...
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...
Air pollution in the Philippines is responsible for the premature deaths of at least 66,000 people every year and the loss in the country's economic growth, a joint report released by a climate think tank and a climate research organization showed. According to the report published by Institute for...
The Philippines' negligence of air quality is causing more deaths and losses of about $87.6 billion annually, according to the Centre for Research on Energy and Clean Air (CREA) and the Institute for Climate and Sustainable Cities (ICSC). 45000 “Air quality is not an abstract issue. Air pollution...
Pilipinas Shell Petroleum Corporation announced that its current President and Chief Executive Officer (CEO) Cesar G. Romero will step down by November 30 this year. In a disclosure to the Philippine Stock Exchange (PSE), Pilipinas Shell said Romero will be replaced by Lorelie Q. Osial, who is...
Finance Secretary Carlos G. Dominguez III said the support extended by multilateral institutions to the clean energy transition projects of developing economies is crucial to encourage the flow of private sector capital into these initiatives. Dominguez said the meticulous planning and vetting done...
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...
President Duterte has vowed to put an end to Palawan's electricity woes by expropriating the franchises of the underperforming power providers in the province. President Rodrigo Duterte speaks during the joint meeting of the NTF-RTF ELCAC in Region IV-B in Puerto Princesa City, Palawan on Nov. 4,...
As soon as the country recovers from the coronavirus pandemic, presidential aspirant and Manila Mayor Francisco "Isko Moreno" Domagoso on Wednesday, Nov. 3, said he would push for the construction of infrastructure for clean and renewable energy. PHOTO FROM MAYOR ISKO MORENO FACEBOOK PAGE/ MANILA...
The Philippines and Indonesia have formed a new partnership establishing an Energy Transition Mechanism (ETM), the first of its kind in Asia and the Pacific, the Asian Development Bank (ADB) said. At the COP26 in Glasgow, ADB President Masatsugu Asakawa, Indonesian Finance Minister Sri Mulyani...
A principal author of the law that imposed excise taxes on fuel is now seeking the reduction of the much-criticized imposition but with an effectivity of just six months - from December 1, 2021 to June 1, 2022. Albay Rep. Joey Sarte Salceda Albay Rep. Joey Sarte-Salceda, chairman of the House...
