The government has signed a petroleum service contract on Wednesday, April 7, with SK Liguasan Oil and Gas Corporation (SKLOGC), officially signaling the latter’s entry for oil and gas exploration activities at Area 9 of the Liguasan marsh, located in the southern part of the Mindanao River...
ACE Enexor Inc., the oil and gas investment platform of the Ayala group, will be undertaking a follow-on offering (FOO) for 74,000,000 shares to be priced at P10 to P11.84 per share. The company has secured the go-signal of its board this week on “the appointment of the transaction advisors...
Soaring electric bills in summer months seen By MYRNA M. VELASCO Summer months may just get hotter as soaring electric bills could further erode the purchasing power of Filipino consumers and thin power supply could also push Luzon grid into brownout breaking points. As global fuel prices are on...
Following the massive spike in oil prices on Tuesday, March 8, Senate bet Harry Roque listed some short term, medium term, and long term measures that the government can follow to help mitigate the price surge's effects on consumers. Senate bet Harry Roque (FILE PHOTO) On March 8 , gasoline prices...
The government should suspend the excise tax on oil to cushion the effects of the tension between Russia and Ukraine on the price of commodities, Senator Francis “Kiko” Pangilinan said on Monday, Feb. 28. Senator Francis “Kiko” Pangilinan (TRoPa2022) Pangilinan, a vice presidential...
Infrastructure development firm Atlantic, Gulf & Pacific International Holdings (AG&P) inked an 11-year charter agreement with ADNOC Logistics and Services (ADNOC L&S) of the United Arab Emirates (UAE) for the supply, operations and maintenance of a floating storage unit (FSU) for the...
Ayala-led ACEN Corporation will be increasing its stake by more than 13 percent in subsidiary ACE Enexor Inc. (ACEX) with the transfer of at least five assets of the former that had been valued at P3.39 billion. In the deed of assignment inked by the parties, ACEN effectively transferred its rights...
Senator Risa Hontiveros on Monday, February 7, reiterated her support for the Senate resolution that seeks to recommend the filing of criminal charges against Energy Secretary Alfonso Cusi and other Department of Energy (DOE) officials that had a hand in the irregular sale of a 45-percent stake in...
Vice President Leni Robredo lamented the country’s supply of energy is the “number one concern now” as she called for the development of indigenous energy sources to alleviate the rising energy prices. Vice President Leni Robredo (OVP photo) Robredo, a presidential aspirant, was asked about...
Authorities are investigating gas leak at BF Homes in Las Pinas City on Dec. 21. Fire Officer 1 Christian Lagua of the Las Pinas Bureau of Fire Protection (BFP) said the gas leak occurred at the house of one Eve Gabiola at 905 CRM Ave. corner Gloria St., BF Homes, Las Pinas City. Lagua said the gas...
The Philippine National Oil Company-Exploration Corporation (PNOC-EC) effectively protected the country’s national interest when it blocked the sale of Shell Philippines Exploration B.V.’s (SPEX) stakes to Malampaya Energy XP Pte. Ltd., a subsidiary of Dennis Uy-led Udenna Corp., in the...
Opposition Senator Leila de Lima on Monday said she sees no reason for the Philippine government to entrust the sale of Malampaya to Udenna and UC Malampaya which have a history of partnering up with China-owned companies. De Lima reiterated that Malampaya is crucial to the country’s national...
