The typhoon-induced torrential rains and flooding incidents in recent days might have plunged many Filipinos into a new realm of financial hardship - including those in Metro Manila, but the rollback in oil prices this week is expected to bring much needed relief to consumers’ squeezed budgets in...
President Marcos on Saturday, July 27, created an inter-agency task force to address the possible effects of the oil spill from MT Terra Nova, which capsized off the coast of Limay, Bataan. President Ferdinand 'Bongbong' Marcos Jr. presides over a situation briefing at the Bulacan...
Oil sheen from the leaked working fuel of sunken MT Terranova is observed by the Philippine Coast Guard (PCG) during an inspection off Limay, Bataan on Oct. 25, 2024. (Photo: PCG) The anticipated draining of 1.4 million liters of industrial fuel oil (IFO) from the sunken motor tanker (MT) Terranova...
Cebu-based Top Line Business Development Corp. (Topline) is pursuing robust expansion on its core business in the fuel industry, primarily to meet the growing needs of retail as well as commercial end-users in its main market in the Visayas. According to Topline Chairman Erik Lim, who is also the...
State-run firms Philippine National Oil Company (PNOC) and the National Power Corporation (NPC) have inked a memorandum of understanding (MOU) that will cement their collaboration on setting up a pilot project for the rollout of hybrid systems leaning on solar and wind farms in energizing off-grid...
The Department of Energy (DOE) has instructed players in the deregulated downstream oil industry to assess the quality of their fuel products before these are retailed to customers – primarily if there had been infiltration of floodwaters in their underground storage facilities or if some...
There is a rainbow after the rain for consumers -- and that will be coming at the gas pumps as the oil companies calculated likely price rollback across products next week. Based on the outcome of three-day trading in the regional market, the estimated price cut for gasoline products would hover at...
President Marcos has tasked government agencies to assess the oil spill impact from a sunken motor tanker off the coast of Limay, Bataan on Thursday, July 25. MT Terra Nova (Photo courtesy of Philipine Coast Guard) During a situation briefing on Thursday morning, Marcos particularly ordered...
Consumers will experience a mixed bag of adjustments at the pumps this week, as the price of diesel products will moderately roll back to P0.40 per liter, while gasoline prices will rise marginally to P0.10 per liter. For kerosene, it will also be in a favorable swing as the price of this commodity...
Pangilinan-led PXP Energy Corporation has formally secured the approval of the Department of Energy (DOE) for the relinquishment of its interest in a petroleum block in the Northwest Palawan basin that was previously awarded under Service Contract (SC) 74. “The DOE has approved the surrender of...
Motorists filling up their vehicles with diesel will be in a better place in their drive to the gas stations next week, as the price of this product is anticipated to be on a rollback of P0.25 to P0.55 per liter, based on the estimates of the industry players. The other fuel product that will have...
At least two port facilities that will support the development of offshore wind projects in the country are being proposed for inclusion in the General Appropriations Act (GAA) or the country’s national budget for next year. According to Energy Undersecretary Rowena Cristina L. Guevara, priority...
