The Philippine upstream subsidiary of Royal Dutch Shell plc is planning to sell its 45-percent stake in the US$4.5 billion Malampaya deep water gas-to-power project if it can corner enticing offer from prospective takers. Highly placed sources from government indicated that Shell Philippines...
The national government posted a significantly wider budget deficit last month despite the Duterte administration's almost flat spending due to dwindling revenues amid the pandemic, data from the Bureau of the Treasury showed. Official data showed the national government’s fiscal gap swelled by...
Both the farmgate and retail prices of the country’s main staple food palay and corn are on a downtrend, which is bad news for farmers but good news for consumers. Latest data from the Philippine Statistics Authority (PSA) showed that farmgate price of palay fell further during the first week of...
Banana, one of the biggest agricultural export commodities of the country, is now causing problems at the Department of Agriculture (DA), with Agriculture Secretary William Dar starting to seriously worry about something local exporters raised three months ago: “we’re losing our market...
About P400 million budget will be set aside for the Philippine government’s program to encourage Filipino households to plant their own food program, the Department of Agriculture (DA) said. In a statement, the DA said it is allotting P400 million under the “Bayanihan to Recover As One Act”...
Retired Supreme Court Associate Justice Antonio Carpio and a lawyers’ group warned of violation of the Constitution and national security risk if Congress enacts law to remove telcos as a public utility open to foreign control. Retired Supreme Court Associate Justice Antonio Carpio (JOHN JEROME...
Pump prices will take new round of pinch on consumers’ pockets this week as the price of gasoline products had been increased by P0.60 per liter, based on the announcements of the oil companies. Diesel, which is the other major fuel commodity used by motorists, will also go up by P0.20 per liter;...
A diversifying firm subsidiary of Uy-led Phoenix Petroleum Philippines Inc. has kicked off pilot deployment of its gas-fired generating sets (gensets) to provide the electricity requirements of Balesin Island in Quezon province....
Crippling brownouts will dampen the country’s bid for economic recovery in the near term if the Department of Energy (DOE) will not act early enough to concretize a viable replacement for the gas output from the Malampaya field. Senator...
Proceeds from the sale of National Power Corporation (NPC) assets have already reached P915 billion as of end-March this year but revenue collections only hit P612.41 billion, according to the Department of Energy. Collections of asset-seller Power...
Mindanao is planning to restrict the entry of imported agricultural products, including rice, as one of the strategies to restart the region’s economy during the pandemic. Mindanao Development Authority (MinDA) Chair Emmanuel Piñol (MARK...
The Philippines has the lowest gross external debt position among the major Southeast Asian economies, placing the country in a much stronger position to cushion the blow of the coronavirus-induced crisis, the Department of Finance (DOF) assured. Finance Undersecretary Gil S. Beltran In his latest...
