Malampaya Energy XP Holdings (MEXP), a subsidiary company of Udenna Corporation of businessman Dennis Uy, does not hold any firm interest yet on the 45-percent operating stake in the country’s commercial gas field because its acquisition deal with Shell Philippines Exploration B.V. (SPEX) had not...
Billionaire Enrique K. Razon Jr. has tapped Sebastian C. Quiniones Jr., former managing director of Shell Philippines Exploration B.V. (SPEX), to become the general manager of his upstream oil and gas business under Prime Exploration Pte. Ltd. effective August 17 this year. Prime Exploration is the...
A ranking in Forbes Asia magazine’s August issue showed the Sy siblings remaining the richest family in the Philippines while Manuel B. Villar Jr. is still the country’s wealthiest individual. For this year, Forbes Asia noted that the combined wealth of tycoons on the list of Philippines’ 50...
Bloomberry Resorts Corporation, owner of Solaire Resort & Casino and Jeju Sun Hotel & Casino, reported a turnaround with an unaudited consolidated net income of P2.5 billion in the first six months of 2022 from its net loss of P1.9 billion in the same period last year. In a disclosure to...
As issues are raised that businessman Dennis Uy cannot legally sell the 45 percent operating stake in the Malampaya project because its deal with Shell Philippines Exploration B.V. (SPEX) was never consummated, Energy Secretary Raphael Perpetuo M. Lotilla is taking a hands-off position and will let...
Prime Exploration Pte. Ltd., a subsidiary of Razon-led Prime Infrastructure Capital Inc. (Prime Infra), announced its acquisition from Udenna Corporation of businessman Dennis Uy the 45 percent operating stake in the depleting Malampaya gas field asset. In a statement to the media, Prime...
Power utility giant Manila Electric Company (Meralco) formally slates the "competitive challenge" for the 500-megawatt renewable energy (RE) capacity that will partly address its requirement for mid-merit capacity. Interested bidders will challenge the unsolicited proposal originally submitted by...
Ahunan Power Inc., a subsidiary of Razon-led Prime Infrastructure Capital Inc., has proposed a power supply agreement (PSA) with the Manila Electric Company (Meralco) to deliver 500 megawatts of mid-merit power capacity from a pumped storage hydropower facility. In a statement to the media, Ahunan...
The depletion of the Malampaya gas field is becoming extremely visible, as its reported production for three quarters in 2021 significantly dipped to 79.054 billion cubic feet (bcf) almost half only of its 141.732 bcf level in 2020. Data from the Department of Energy (DOE) showed that 76.040 bcf of...
Razon-led Prime Infrastructure Capital Inc. reported that it already completed the Tayabasan weir, which is the phase 1 of its Wawa bulk water supply project that has been targeted to supply the water needs of consumers in Metro Manila as well as those in Rizal province. According to project...
Outgoing Energy Secretary Alfonso G. Cusi has withdrawn the libel and cyber libel suits that he filed against seven media outlets in November last year relating to the controversies linked to the sale of the Malampaya deep water gas-to-power venture to businessman Dennis Uy. In a statement to the...
Razon's Prime Infra slates P28-B IPO By JAMES A. LOYOLA Prime Infrastructure Capital Inc. (Prime Infra) of the second richest Filipino Enrique K. Razon Jr. is planning an initial public offering worth up to P28.2 billion. The Securities and Exchange Commission has received the registration...
