Malampaya gasfield operator Prime Energy, a subsidiary of Razon-led Prime Infrastructure Capital Inc., is eyeing to extract fresh volume of additional gas by 2026 if the government will approve the firm’s application for 15-year license extension. At the PowerTrends forum, Wednesday, Feb. 8,...
The scheduled repricing of the Malampaya gas on contracted power capacity being delivered to Manila Electric Company (Meralco) is seen tempering the utility firm’s projected upward adjustment in electric bills for February billing cycle. According to Meralco Vice President and Spokesperson Joe...
The Department of Energy (DOE) is aiming for a "no rate hike" scenario that will result from the two-week shutdown of the Malampaya gas production facility this February. If the agency’s calculations will turn out accurate, that will be a "historic first" in such activity in the power system’s...
The roughly 7.5 million customers being served by power utility giant Manila Electric Company (Meralco) will have to brace for P0.7897 per kilowatt hour (kWh) hike in electricity rates as a result of the two-week scheduled shutdown of the Malampaya gas production platform next month. The increase...
Razon-led Prime Infrastructure Capital Inc. has named Martin O’Neil as a new addition into the company’s board of directors. O’Neil was a former executive vice president and chief financial officer (CFO) of International Container Terminal Services Inc. (ICTSI), a flagship company of the...
The Department of Energy (DOE) indicated it is winding up its discussion with the consortium-members of Service Contract (SC) 38 for the targeted license extension of the Malampaya deep water gas-to-power project that will lapse February next year. “At the moment, we are still finalizing the...
Razon-led Prime Energy, operator of the depleting Malampaya gas field, said all contingency measures have been prepared during the facility’s two-week maintenance shutdown on February 4-18 this year. In a statement, Prime Energy General Manager Sebastian Quiniones explained that the scheduled...
Prime Energy, a subsidiary of the Razon Group’s Prime Infrastructure Capital Inc., has convened an advisory council composed of technical experts and key industry leaders for the exploration and development of the Malampaya gas field. In a statement, Prime Infra said the advisory council will...
The Department of Energy (DOE) has lined up contingency measures to stem probable power service interruptions during the two-week maintenance shutdown of the Malampaya gas production facility in Feb. 4 to 18, 2023. Primary step pushed by the energy department is the designation of a “must-run...
With highly anticipated license extension to be granted by the government, Energy Secretary Raphael P. M. Lotilla visited last week the Malampaya gas production platform to assess its condition and check its viability for stretched life cycle of gas production. The 25-year Service Contract (SC) 38...
Surigao del Sur 2nd district Rep. Johnny Pimentel has identified a potential fund source for the Maharlika Wealth Fund (MWF) that's literally under the sea. (Tom Barrett/ Unsplash According to Pimentel, all future national government royalties from forthcoming offshore natural gas projects in the...
The Chamber of Commerce of the Philippine Islands (The Chamber) has recommended an in-depth analysis and evaluation of what it called as similar sovereign wealth funds (SWFs) existing in the country to help in coming up with a decision on the proposed Maharlika Wealth Fund (MWF). In a statement,...
