Shell Pilipinas Corp. reported a 69 percent surge in full-year net income for last year, overcoming volatility in global oil markets through a shift toward high-margin commercial segments and leaner logistics. In a disclosure to the Philippine Stock Exchange on Thursday, March 26, Shell Pilipinas...
The Chinese embassy in Manila has welcomed President Marcos ' pronouncement that the Philippines is open to the possibility of joint oil exploration with China amid the looming oil crisis brought by the Middle East conflict. Guo Wei, deputy spokesman for the embassy, said setting aside both...
Malacañang on Thursday, March 26, clarified that essential government services such as ambulance, police, fire, and health operations will not be affected by the government’s energy conservation measures amid rising global fuel prices. Executive Secretary Ralph Recto said agencies delivering...
With the country now under a state of national energy emergency, regulators have moved swiftly to contain the impact of surging global fuel prices, suspending the power spot market and rolling out emergency measures to stabilize electricity supply and prices. To reduce supply risks amid the...
Amid the series of big-time oil price increases in the past few weeks, at least two major groups of bus operators urged President Marcos to reconsider his decision to suspend the implementation of the fare adjustments for public utility vehicles (PUVs). In two separate letters addressed to the...
For jeepney drivers, "tigil‑pasada" was more than a protest; it was a desperate cry for survival. Thousands of commuters were left stranded along España Boulevard, Quiapo, Taft Avenue, and other major thoroughfares in Manila, as members of MANIBELA halted operations, highlighting the human...
TAGUM CITY, Davao del Norte – The provincial government of Davao del Norte plans to buy 44 million liters of crude oil and gasoline from Malaysia to help mitigate rising oil prices in the province caused by the ongoing conflict in the Middle East. Gov. Edwin Jubahib said in an interview on...
Declaring a state of national energy emergency should not be a cause of alarm as it does not place the country in a general emergency. President Marcos said this as he justified his move to declare an energy emergency. In his public address on Wednesday, March 25, a day after signing Executive...
There will be a sufficient supply of oil even after the 45-day worth of fuel supply in the country is used up, President Marcos said. Marcos made the assurance during a public address on Wednesday, March 25, a day after declaring a state of national energy emergency. He confidently stated that the...
Senate Deputy Majority Leader Joseph Victor “JV” Ejercito on Wednesday, March 25 said he welcomes President Ferdinand “Bongbong” Marcos Jr.’s declaration of a state of national energy emergency but the directive is already “a bit too late.” That is why Ejercito said the government...
After 26 days since the Middle East conflict, Senator Sherwin Gatchalian said that it 's "concerning" that the government still has no unified, coordinated national contingency plan to address matters related to the country 's oil supply. In a press conference on Wednesday, March 25,...
Having ample fuel inventory is one thing, but paying for it is another. While energy officials tout procurement that stretches into May, the reality at the gas pump remains grim as another round of price hikes is expected next week. Based on the two-day trading average at Mean of Platts Singapore...
