As a ‘blackout legacy’ of the Duterte administration is getting up close and personal, the Department of Energy (DOE) is finally calling on all industry stakeholders to sort out comprehensive solutions to the imminent energy crisis. As a priority matter though, the energy department is being...
Conservation efforts must go on despite the COVID-19 pandemic, particularly in the Philippines whose biodiversity makes it not only one of the richest, but also one of the most vulnerable in the world. One of only 17 megadiverse countries worldwide, the Philippines is rich in natural resources and...
Four major foreign banks will finance businessman Dennis Uy’s $460 million acquisition of the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field facility. Highly placed sources from Singapore...
As the Department of Energy (DOE) is not really keen on fixing the country’s power supply problems, Luzon grid may brace for another ‘perfect storm’ that could lead to brownouts and rate hikes with the scheduled 20-day turnaround shutdown of the Malampaya gas field in October this year. The...
The gas output restriction of the Malampaya field was finally lifted on Monday (June 14) and that could help Luzon grid supply to chill for the meantime because that could add capacity generation, according to industry stakeholders. The Department of Energy (DOE) confirmed the resolution of...
The Department of Energy (DOE) will convene the relevant stakeholders in the gas sector, so it can finally ferret out definitive solution to the lingering gas production restriction at the Malampaya field. DOE Director Mario Marasigan admitted that until this time, there are no concrete...
With the triple impact of increasing demand due to scorching weather as well as wider economic reopening, relentless outages in power plants and restriction of gas fuel from the Malampaya field, consumers will need to brace for higher electric bills again in their June bills. According to Manila...
Uy-led firm Phoenix Petroleum Philippines Inc. has denied interest to buy the ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that shall be extracted from the Malampaya field. It was no less than PNOC President and CEO Reuben S. Lista who indicated that Phoenix Petroleum is...
Lopez-led First Gen Corporation confirmed that it remains very keen on buying the ‘banked gas’ that can still be extracted from the Malampaya field. According to Jerome Cainglet, vice president of First Gen, “we have expressed our interest to purchase the banked gas for use of our gas-fired...
Listed firm Phoenix Petroleum Philippines Inc., another company of businessman Dennis Uy, is reportedly offering to buy the Malampaya ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that had been previously valued between $700 million to $800 million, approximately P33 billion...
The restricted gas output of the Malampaya field since March this year has reduced overall electricity generation in the country by more than 400 megawatts, according to Manila Electric Company. Meralco Vice President Lawrence S. Fernandez conveyed that the slowdown in production from the field...
Davao businessman Dennis A. Uy will be paying colossal $1.025 billion for the 90 percent stake in the Malampaya project, which gas production is expected to start depleting next year. Udenna Corporation's UC 38 LLC first paid $565 million for the 45-percent shareholdings of American giant Chevron...
