To expand domestic energy development amid the ongoing global price and supply volatility, the Department of Energy (DOE) announced that two new petroleum service contracts (SCs) will soon begin operations. In a statement on Tuesday, April 7, the DOE said that President Ferdinand R. Marcos Jr....
DUMAGUETE CITY – Negros Oriental Gov. Manuel Sagarbarria on Monday issued an order instituting austerity measures within the provincial government relative to the national state of energy emergency as declared by President Ferdinand R. Marcos Jr. Sagarbarria outlined the temporary restrictions in...
House Assistant Majority Leader Lanao del Sur 1st district Rep. Zia Alonto Adiong says "consequences" must be meted out to individuals who deliberately spread false information about the ongoing national energy emergency. Adiong, in a statement Monday, April 6, reckoned that those who exploit the...
Ayala-led renewable energy (RE) firm ACEN Corp. remains the largest retail electricity supplier (RES) in the market, having taken over the majority of the franchise area of Manila Electric Co. (Meralco). According to Philippine Electricity Market Corp. (PEMC), ACEN’s RES arm captured 71 percent...
The Bangko Sentral ng Pilipinas (BSP) has likely exhausted its window for monetary easing as resurgent price pressures threaten to breach the upper limit of its target range, according to the ASEAN+3 Macroeconomic Research Office (AMRO). While the Philippine economy shows signs of stabilizing...
The Office of the Vice President (OVP) on Monday, April 6, announced that it has shifted to a four-day on-site workweek with a one-day work-from-home (WFH) arrangement, in line with the government’s push to reduce energy consumption amid global uncertainties. “The Office of the Vice President...
The Philippines is facing an inflationary shock that could spill over to slower economic growth, potential job losses, and more capital market outflows amid a prolonged Middle East conflict, according to the World Bank. The global oil price and supply shock wrought by the war in Iran would “raise...
Sowing confusion by spreading fake news online while the country is under an energy emergency "will be treated as a serious offense," Malacañang said, warning erring online users that it will press charges. In a statement on Sunday, April 5, Presidential Communications Office (PCO) Acting...
Senator Sherwin Gatchalian on Thursday, April 2 lauded the government for securing a “safe passage” deal with Iran, saying it is a major win for the country which is still reeling from the impact of the oil crisis due to the ongoing conflict in the Middle East. Gatchalian, chairman of the...
Iran has assured the Philippines that it will allow the safe, unhindered, and expedited passage of Philippine vessels, energy sources, and Filipino seafarers through the Strait of Hormuz, the Department of Foreign Affairs (DFA) bared. Iran 's assurance was made during a "productive phone...
To reduce congestion to the power grid and improve power availability to the communities it serves, SM Prime Holdings Inc. (SM Prime) has implemented the use of rooftop solar power systems across its properties and nationwide network of SM Supermalls. Since its pioneering installation of solar...
Multilateral lenders including the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the World Bank Group (WBG) are moving to provide immediate financing and coordinated support to countries reeling from the economic fallout of the Middle East war. In a statement on...
