The Department of Energy (DOE) is being urged to bid out an operation and maintenance (O&M) agreement for the Malampaya project, so the gas field can continue operating without hitches beyond the expiration of its service contract in 2024. According to Senate Committee on Energy Chairman...
Malampaya gas facility buyer Udenna Corporation of businessman Dennis Uy has finally raised alarm bells that the field will already suffer from gas production shortfall starting next year and this could worsen the power crisis problems of the Philippines. “The country will surely be short of...
The Department of Energy (DOE) has admitted that it used an unaudited financial statement of a subsidiary-company of Udenna Corporation as the government’s basis in evaluating the firm’s financial capacity as well as in approving the latter’s acquisition of the 45-percent stake of American...
As it will be handing over the Malampaya gas field venture to a non-technical buyer, Shell Philippines Exploration B. V. (SPEX) indicated that it will be providing a “six-month transition operation” on the facility as part of the handover process to new owner Malampaya Energy XP Pte. Ltd....
The Singapore-incorporated Malampaya Energy XP Pte. Ltd., a subsidiary of Udenna Corporation of businessman Dennis Uy, which is buying the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field venture, has just US$100 (or P5,000) capitalization, as revealed in a...
Multinational giants Chevron Corporation and Royal Dutch Shell have pocketed over P350 billion in revenues from the Malampaya gas field project prior to their respective exits from the venture. As culled from government documents, the royalty share of the two foreign energy giants had been on top...
The Department of Energy (DOE) is being urged to exercise ‘utmost transparency’ on its anticipated approval of the 45-percent Malampaya equity divestment of Shell Philippines Exploration B.V. (SPEX) to Malampaya Energy XP Pte. Lt., a subsidiary of Udenna Corporation owned by businessman Dennis...
DITO CME, the communications, media, and entertainment arm of the Udenna Group, and CloudSwyft, a Philippine-based global education technology firm, are collaborating with Alibaba Cloud, to upskill Filipinos via the LUNA Academy online education platform. Hero_Banner_1 Alibaba Cloud will equip LUNA...
The National Irrigation Administration (NIA) is opposing a bulk water supply project in Quezon Province that was awarded to the consortium led by businessman Dennis Uy’s Udenna Water Integrated, Inc. through a public-private partnership (PPP) scheme. In a position paper submitted to Tiaong...
SM Investments Corporation (SMIC) has taken control over 2Go Group Inc. with the completion of the divestment of Dennis A. Uy from the company in favor the Sy family’s investment arm and Singapore private equity fund Archipelago Capital Partners Pte. Ltd. In a disclosure to the Philippine Stock...
Davao businessman Dennis A. Uy will be paying colossal $1.025 billion for the 90 percent stake in the Malampaya project, which gas production is expected to start depleting next year. Udenna Corporation's UC 38 LLC first paid $565 million for the 45-percent shareholdings of American giant Chevron...
The Senate Committee on Energy is requiring the Department of Energy (DOE) to legally justify the approval it bestowed on the transfer of the unloaded 45-percent shareholdings of Chevron Corporation in the Malampaya gas field venture to buyer Udenna Corporation. In a statement to the media, Senator...
