In the technically complex world of energy where men CEOs are regarded as ‘king’, women executives eyeing C-suite positions often work double time to catch up with counterparts. Shell Philippines President and CEO Lorelie Quiambao-Osial Unequivocally, one female executive who is rising up to...
The Integrated Bar of the Philippines (IBP) has asked the Department of Energy (DOE) to rescind the approval it granted to Udenna Corporation for the acquisition of the 45 percent shareholdings of Chevron Corporation in the multi-billion Malampaya deep water gas-to-power project. In a statement,...
The operator of the Malampaya gas field is scheduling at least four "production holds" or gas restriction occurrences next year, according to the Department of Energy. “Based on the submitted document from SPEX (Shell Philippines Exploration B.V.), there will be four scheduled ‘production...
Uy-led Udenna Corporation has committed to fulfill its contractual obligation under Malampaya’s Service Contract 38 (SC38) to extract the P30 billion to P35-billion worth of ‘banked gas’ for state-run Philippine National Oil Company (PNOC) According to Udenna President Raymundo Martin M....
Surigao del Sur Rep. Johnny Pimentel has called for the Department of Energy (DOE) to assure the “seamless transfer” of Malampaya’s day-to-day gas business amid calls for a probe of Shell Petroleum B.V.’s $460 million operator switch to Udenna Corp. “We are counting on a smooth handover...
Senator Risa Hontiveros is calling for a Senate inquiry into the "propriety" of allowing a single private entity to control almost all of the nation's strategic fossil energy assets in the West Philippine Sea. Senator Risa Hontiveros (Senate PRIB) Hontiveros said on Friday, Nov. 18 that she has...
The Udenna Corporation of Davao businessman Dennis A. Uy strongly denied accusations that the company took out cash from the Malampaya revenues, which in turn, was allegedly used to pay for its acquisition of the 45 percent shareholdings of US firm Chevron Corporation in the Philippine gas field...
The profitability of Lopez-led First Gen Corporation has improved by 11 percent to P10.3 billion ($212 million) in nine months this year from P9.9 billion ($196 million) within the same period in 2020. The company said it “benefited from higher electricity sales,” and among its income driver is...
Dennis Uy breaks silence; claims US$191-M capitalization in Malampaya buy By Myrna M. Velasco Davao businessman Dennis A. Uy finally broke his silence to refute allegations of "negative working capital" as he claimed that his Udenna subsidiaries have $191 million capitalization, not $100 million,...
Customers of Manila Electric Company (Meralco) will need to shell out higher budget for their electric bills this month as the utility firm’s residential rate had gone up by P0.3256 per kilowatt hour (kWh) to P9.4630 per kWh from P9.1374 per kWh. According to Meralco, for residential consumers in...
A senior administration congressman on Sunday, November 7, called on reelectionist senators not to subject to “political grandstanding” the controversy relating to the decision of Shell Petroleum N.V. to sell its 45 percent operating stake in the service contract that includes the offshore...
The volume of gas that can be supplied by the Malampaya field will drop to 1,000 megawatts of equivalent power capacity in 2024, which is also the timeframe for the expiration of the project’s Service Contract (SC) 38, if no license extension is extended by the government. According to Atty...
