Davao businessman Dennis Uy’s Udenna has been chosen as the buyer of the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in Malampaya, giving him ultimate majority control in the country’s commercial gas field. In an announcement made by SPEX’s parent firm Royal Dutch Shell plc,...
The Duterte administration is now on its last year stretch, but the government still cannot give a definitive timeframe on when the decision on the propounded license extension of the Malampaya project will be laid down. “We don’t have final decision yet of the DOE (Department of Energy) and...
The revenues yielded by the country’s Malampaya gas production facility already topped $11.9 billion (equivalent to P573 billion at prevailing peso-dollar exchange rate) with the national government getting the bulk with a share of P325 billion as of end-December 2020, according to the Department...
The Senate Committee on Energy is requiring the Department of Energy (DOE) to legally justify the approval it bestowed on the transfer of the unloaded 45-percent shareholdings of Chevron Corporation in the Malampaya gas field venture to buyer Udenna Corporation. In a statement to the media, Senator...
The recurring gas production restriction from the Malampaya field will de-rate anew the electricity generation of the 1,200-megawatt Ilijan gas-fired power facility in Batangas, one of the biggest power plants in the country. In an advisory sent by state-run National Power Corporation to plant...
Following government’s approval of its 45-percent stake acquisition in the multi-billion Malampaya project, Udenna Corporation conveyed that it absorbed the technical team and core of experts from previous interest-holder Chevron Corporation so it can seamlessly help in the continuous operation...
The Department of Energy (DOE) has officially approved the transfer of the divested 45-percent shareholdings of American firm Chevron Corporation in the multi-billion Malampaya gas field project to UC38 LLC, a subsidiary of Udenna Corporation owned by businessman Dennis Uy. In a formal...
The Energy Regulatory Commission (ERC) has barred state-run Power Sector Assets and Liabilities Management Corporation (PSALM) from passing on new universal charges (UC) for stranded debts (SD) and stranded contract costs (SCC) even with the latter’s contention that the Malampaya fund or...
Despite stifled demand because of the re-imposition of enhanced community quarantine (ECQ) in the so-called NCR plus bubble, prices in the Wholesale Electricity Spot Market (WESM) have been hitting record-spikes in recent trading days because of the combined impact of simultaneous power plant...
The Department of Energy (DOE) has issued another notice-to-proceed (NTP) for a liquefied natural gas (LNG) import facility project – this time for Shell Energy Philippines. According to the project proponent-firm, the Philippines “is an important country for Shell and is keen to continue...
Diversified conglomerate San Miguel Corporation (SMC) has decided not to submit a tender for the 45-percent stake in the multi-billion Malampaya gas field venture that is currently being unloaded by Shell Philippines Exploration B.V. (SPEX), the operator of the facility which is a subsidiary-firm...
A consortium led by Hong kong-based First Pacific Company Limited of businessman Manuel V. Pangilinan has submitted last week its “final non-binding offer” to acquire the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the multi-billion dollar Malampaya deep water gas-to-power...
