President Marcos said the signing of eight landmark petroleum service contracts (PSCs) worth over $200 million would reduce the Philippines’ near-total dependence on imported fuel and secure its long-term energy future. Speaking at the signing ceremony in Malacañan, the President said the...
Phoenix Petroleum Philippines Inc. informed the Philippine Stock Exchange (PSE) that it is unable to pay dividends due to its preferred shareholders because it has no unappropriated retained earnings. The PSE had written Phoenix Petroleum, directing it to give an update on the redemption and...
Independent oil firm Phoenix Petroleum Philippines Inc. announced that it is joining the rise of electric vehicle (EV) fleets through a partnership with V-Green Charging Station Development Philippines Inc. In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Aug. 18, Phoenix said it...
Visayas fuel distributor Top Line Business Development Corporation, through subsidiary Light Fuels Corporation, is acquiring the gasoline station of Phoenix Petroleum Philippines, Inc. in Cebu. In a disclosure to the Philippine Stock Exchange, Top Line said its board of directors has unanimously...
Motorists are getting another round of relief as oil prices are set to go down further this week. Starting Tuesday, July 8, gasoline prices will decrease by ₱0.70 per liter, diesel by ₱0.10 per liter, and kerosene by ₱0.80 per liter. Shell Pilipinas, Seaoil, PetroGazz, and PTT are among the...
The Department of Energy (DOE) has assured the continued supply and delivery of petroleum products, such as liquefied petroleum gas (LPG), to Samar despite the recent weight limit imposed on the San Juanico Bridge. In a statement on Tuesday, May 27, outgoing Energy Secretary Raphael P.M. Lotilla...
Motorists welcome some relief as petroleum prices dropped in the first few days of May, reversing last week 's increases. Effective Tuesday, May 6, gasoline prices will go down by ₱0.55 per liter, diesel by ₱0.65 per liter, and kerosene by ₱0.90 per liter. These marginal decreases were...
To safeguard consumers and ensure adherence to government standards, the Department of Energy (DOE) has called on liquefied petroleum gas (LPG) businesses to comply with the LPG Industry Regulation Act (LIRA). In a statement on Monday, March 10, the DOE said that failure to comply could lead to...
Consumers can expect some savings to start the year as Petron Corp. and Solane announced rollbacks in the prices of liquefied petroleum gas (LPG) effective Jan. 1, 2025. In an advisory, Petron said it implemented a P0.90/kilogram rollback in LPG prices starting 12:01 a.m. on Jan. 1. Solane, in a...
The Department of Energy (DOE) has awarded Qualified Service Person (QSP) accreditation to three Liquefied Petroleum Gas (LPG) associations, ensuring the safe, efficient, and professional delivery of LPG services to the public. The DOE’s Oil Industry Management Bureau (OIMB) awarded QSP...
Listed firm Pryce Corporation reported a surge in its gross profit for the first nine months of the year, driven by increased liquefied petroleum gas (LPG) margins in Luzon. In a disclosure to the Philippine Stock Exchange, Pryce said that its branded LPG sales significantly outpaced those of its...
Motorists will have a frustrating drive to the petroleum service stations this week as they will be greeted with diesel prices rising by P0.90 per liter; while diesel prices will be going up by P0.45 per liter. Kerosene, which is their cousin in the weekly triumvirate of price adjustments, will...
