State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will need to borrow P38.4 billion this year to augment the funds needed for the power rate reduction subsidy mandated under Republic Act 11371 or the Murang Kuryente Act (MKA) that was signed by President Rodrigo Duterte...
American firm Excelerate Energy is racing ahead in bringing to commercial fruition the country’s first floating storage regasification unit (FSRU) for imported liquefied natural gas (LNG) by the second quarter of 2022. ( Photo credit: https://excelerateenergy.com/) In an announcement to the...
Anchoring it on the ‘right to match’ provision of the joint operating agreement (JOA) under Service Contract (SC) 38, Energy Secretary Alfonso G. Cusi indicated that Udenna Corporation of businessman Dennis Uy may likely have an edge in acquiring the 45-percent stake being unloaded by Shell...
With the service contract of the Malampaya gas field expiring in four years, Energy Secretary Alfonso G. Cusi sounded off that the next best option for the country is to take the course of liquefied natural gas (LNG) importation. Energy Secretary Alfonso G. Cusi In his keynote message at the 9th...
The forthcoming maintenance schedule of the Malampaya gas production facility next month is expected to trigger hikes in the electricity bills that will be dispatched to Filipino consumers around Christmas time. The Malampaya gas field uses an innovative and sustainable deepwater technology for...
With forecasts of hiked budget deficits until next year, Senate Committee on Energy Chairman Sherwin T. Gatchalian forthrightly stated that the Philippine government has no money to buy the 45-percent stake being unloaded by Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya...
Businessman Dennis Uy has formally indicated that his company Udenna Corporation, along with state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) would be interested to acquire the 45-percent stake being unloaded by Shell Philippine Exploration B.V. (SPEX) in the...
The royalty share of the Philippine government from the Malampaya project’s operations has so far reached $11.7 billion, significantly higher than the $8 billion estimate when the gas field started commercial operation in 2001. The Malampaya gas field uses an innovative and sustainable deepwater...
State-run Philippine National Oil Company (PNOC) has initially sounded off interest in the 45-percent shareholdings of Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya gas field venture. PNOC President and CEO President Reuben S. Lista indicated that there was an initial...
The Philippine upstream subsidiary of Royal Dutch Shell plc is planning to sell its 45-percent stake in the US$4.5 billion Malampaya deep water gas-to-power project if it can corner enticing offer from prospective takers. Highly placed sources from government indicated that Shell Philippines...
Crippling brownouts will dampen the country’s bid for economic recovery in the near term if the Department of Energy (DOE) will not act early enough to concretize a viable replacement for the gas output from the Malampaya field. Senator...
