The firms comprising the Malampaya consortium are already preparing for fresh round of ‘capital expenditures call’ to bankroll their committed drilling of 2-3 wells as one of the major conditions in their 15-year contract extension, according to Energy Secretary Raphael P.M. Lotilla. “The...
Financially-plagued Phoenix Petroleum Philippines Inc, has widened its net loss within January-September stretch this year to P3.688 billion from a relatively leaner P1.0 billion in the same period in 2022. The company’s net loss before tax, as reported to the Philippine Stock Exchange (PSE), was...
Lopez-led First Gen Corporation has awarded its next cargo of liquefied natural gas (LNG) delivery to multinational fuel trading firm Trafigura Pte Ltd. Based on the awarded contract, Trafigura will have to supply one cargo LNG with a volume of roughly 154,500 cubic meters (m3) – which will be...
Bolder steps and accelerated actions are required to cut greenhouse gas (GHG) emissions by 43% onward to 2030 so the world can keep pace with keeping global temperature rise within the 1.5 degrees Celsius target, being the holy grail of the Paris Agreement, according to a new report released by the...
Leading energy player Aboitiz Power Corporation has inked a memorandum of understanding (MOU) with the Japan Bank for International Cooperation (JBIC) so it can explore ‘transition financing package for its planned power projects – primarily for targeted developments in the renewable energy...
Liquefied petroleum gas (LPG) prices have gone up again in November, marking the fourth straight month of increases. Regasco, Petron, and Solane, leading players in the industry, have all announced higher prices for their LPG products. Regasco raised its LPG prices by P0.50 per kilo, while...
SEOUL – The conversion of gas pipelines as well as on-site production can help reduce the cost of hydrogen to commercially viable proportion and for it to thrive as a practicable energy solution starting in the 2030 timeframe, according to studies and assessments of UK-headquartered multinational...
As it continues to traverse rough financial terrain on its operations, Uy-led Phoenix Petroleum Philippines Inc. indicated that it will be pursuing a sale-and-lease back arrangement for its assets with Sy-controlled BDO, which has been its long term go-to bank for credit line. According to Phoenix...
The Singapore-based holding firm of Atlantic, Gulf & Pacific Company (AG&P) has reshuffled its top management after the departure of its former Chief Executive Joseph Sigelman, following an internal investigation due to alleged mismanagement concerns in the company. AG&P announced that...
The Department of Energy (DOE) has conceded to the plea of many liquefied petroleum gas (LPG) retailers in the country that their applications for license-to-operate (LTO) be continually processed despite an earlier enforcement of a deadline. The DOE had initially set July 7 this year as the...
The Department of Energy (DOE) has ordered and deployed personnel to carry out physical inspection of the delayed liquefied natural gas (LNG) import facilities, as the snagged kick-off of their commercial operations have been triggering spikes in electricity rates being passed on to consumers....
Leading oil firm Petron Corporation is broadening the retail outlets reach of its new Fiesta Gas 170-gram refillable liquefied petroleum gas (LPG) products in the juicy market of Luzon – that was following its successful debut in Cebu and Metro Manila markets. The LPG product’s market expansion...
