Lopez-led First Gen Corporation confirmed that it remains very keen on buying the ‘banked gas’ that can still be extracted from the Malampaya field. According to Jerome Cainglet, vice president of First Gen, “we have expressed our interest to purchase the banked gas for use of our gas-fired...
Listed firm Phoenix Petroleum Philippines Inc., another company of businessman Dennis Uy, is reportedly offering to buy the Malampaya ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that had been previously valued between $700 million to $800 million, approximately P33 billion...
The Department of Energy and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) have collaboratively called for greater inflow of investments in the country’s upstream petroleum sector if the Philippines would really have to cement its energy security pathway....
The Duterte administration is now on its last year stretch, but the government still cannot give a definitive timeframe on when the decision on the propounded license extension of the Malampaya project will be laid down. “We don’t have final decision yet of the DOE (Department of Energy) and...
A pending legislative measure is seeking to refocus the investment mandate of state-run Philippine National Oil Company (PNOC) into exploration and production (E&P) ventures in the oil and gas sector, and for it to transform itself as a global champion in that industry similar to the...
Between legislated policies or crafted rules and their actual implementations, there are always gaps to be filled in or addressed so tangible investments will flow. It is within that context that stronger collaboration between private sector players and government leaders is sought, so that missing...
State run Philippine National Oil Company-Exploration Corporation (PNOC-EC) is targeting to re-assess the potential of Liguasan Marsh for prospective commercial gas discovery that may then be re-aligned as among the replacement-finds for Malampaya....
State-run subsidiary Philippine National Oil Company-Renewables Corporation (PNOC-RC) is not winding down operations and is not ceasing corporate existence, according to Energy Secretary Alfonso G. Cusi. That was his pronouncement despite earlier calls of some lawmakers for the government-owned...
Despite the Department of Energy’s (DOE) moratorium on new coal projects, it was specified that the coal ventures of state-run Philippine National Oil Company-Exploration Corporation will not be covered by that investment prohibition. Energy Secretary Alfonso G. Cusi qualified the PNOC-EC...
Uy-led UC Malampaya Philippines Pte. Ltd. is seeking resolution of the P27.3-billion dispute on capacity payments for the 1,200-megawatt Ilijan gas-fired power project; and it formally lodged this concern in a Senate hearing as one of the major issues that the company wants to be accorded with...
The $565 million sale of American energy giant Chevron Corporation for its 45-percent stake in Malampaya to businessman Dennis Uy’s Udenna Malampaya LLC is a “voidable contract,” the Department of Energy (DOE) has disclosed in a Senate hearing. Energy Assistant Secretary Leonido J. Pulido III...
The Senate committee on energy is filing a legislative measure that will re-frame the investment function of state-run Philippine National Oil Company (PNOC), so it can concentrate its activities on oil and gas exploration ventures. Senator Sherwin Gatchalian (MANILA BULLETIN FILE PHOTO) “We’re...
