The world’s predicament of tight liquefied natural gas (LNG)) supply is anticipated to persist until year 2025, entailing that import dependent countries of this commodity will have to continuously put up with surging costs in their electric bills. An outlook issued by the Institute for Energy...
As the Malampaya gas field is inching closer to its run-out phase and the country transitions into renewables, President Ferdinand Marcos Jr. has cited the critical role that the liquefied natural (LNG) investment deal of Lopez-led First Gen Corporation and Tokyo Gas Co. Ltd., will bring in...
Listed firm Aboitiz Power Corporation is eyeing to develop a 150-megawatt power plant that will run on imported liquefied natural gas (LNG) to be sited adjacent to its existing diesel-fired power facility in Naga, Cebu. “It’s an option in Cebu to be delivered by 2026 or 2027... that’s when...
The Securities and Exchange Commission (SEC) has approved the change in the corporate name of the oil and gas investment arm of ACEN Corporation of the Ayala group to “ENEX Energy Corp” from ACE Enexor Inc. The change in the company’s name had earlier obtained the approval of the board of...
The Department of Energy (DOE) is now placing its bet on the entry of liquefied natural gas (LNG) as one of the "immediate fixes" to save Luzon consumers from blackouts during the summer months. “Our foremost concern is to ensure that there is enough capacity supplied through various sources most...
Owing to disrupted fuel supply in its gas-fired power plants due to the depleting state of the Malampaya gas field, the recurring net income of First Gen Corporation in the first half decelerated by 13 percent to P6.6 billion ($128 million) from a rosier financial outcome of P7.8 billion ($148...
SMC Global Power Holdings Corporation (SMCGP), the power investment arm of San Miguel Corporation, has listed its P40-billion fixed rate bonds with the Philippine Dealing and Exchange Corporation (PDEx), which has been touted as the largest corporate bond issuance to date. According to SMCGP, the...
Lopez-led First Gen Corporation is seeking the approval of the Department of the Energy (DOE) on its bid for a six-month extension of the license for its interim offshore liquefied natural gas (LNG) import facility given delays that it has been encountering in the project’s implementation. In a...
The Department of Energy (DOE) indicated that out of the seven liquefied natural gas (LNG) projects with government permits, only two gas import facilities may actually reach completion while four others are experiencing delays and another one already dropped from the race. In a briefing with the...
ACE Enexor Inc., the oil and gas investment platform of the Ayala group, will be undertaking a follow-on offering (FOO) for 74,000,000 shares to be priced at P10 to P11.84 per share. The company has secured the go-signal of its board this week on “the appointment of the transaction advisors...
Lopez-led First Gen Corporation registered a flat growth in income at P12.4 billion ($252 million) last year due to uncertainties ignited by soaring fuel prices in the world market that had impacted the overall operation of its electric generating assets. The company qualified that while it...
Infrastructure development firm Atlantic, Gulf & Pacific International Holdings (AG&P) inked an 11-year charter agreement with ADNOC Logistics and Services (ADNOC L&S) of the United Arab Emirates (UAE) for the supply, operations and maintenance of a floating storage unit (FSU) for the...
