The Department of Energy (DOE) indicated that it is amenable to planned takeover of Razon-led Prime Infra Holdings Inc. for the continued operations of the Malampaya gas field facility. In a statement to the media, Energy Secretary Alfonso G. Cusi noted that the ongoing partnership discussions...
Razon-led Prime Infra Holdings Inc. has announced plan to acquire majority shares of the controlling stake held by Davao businessman Dennis Uy in the depleting Malampaya gas field project, of which Service Contract 38 (SC 38) will also expire in February 2024. Uy has 45 percent shareholdings in...
Senator Sherwin Gatchalian on Sunday expressed his grave concern over the country’s power situation amid reports that Udenna Corp.’s Dennis Uy is considering selling his controlling stakes in the Malampaya deep water gas-to-power project. Gatchalian said this development casts uncertainty on...
The government, through the Philippine National Oil Co.-Exploration Corp. (PNOC-EC), is exploring the possibility of a buy-back of the Chevron shares and to also acquire equity in the 45-percent shareholdings of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field venture once the...
Senatorial aspirant and human rights lawyer Chel Diokno has urged the government to rescind its Malampaya deal with Udenna Corp. and rechannel the latter's P50-million daily income from the agreement for fuel subsidy. Human rights lawyer Chel Diokno (FACEBOOK / FILE PHOTO / MANILA BULLETIN) Diokno...
The government should suspend the excise tax on oil to cushion the effects of the tension between Russia and Ukraine on the price of commodities, Senator Francis “Kiko” Pangilinan said on Monday, Feb. 28. Senator Francis “Kiko” Pangilinan (TRoPa2022) Pangilinan, a vice presidential...
The earlier-anticipated hike in the electricity rate of Manila Electric Company (Meralco) was overturned, resulting in overall reduction of P0.1185 per kilowatt hour (kWh) in the February billing cycle due to the "cover cost" or compensation generated by power supplier First Gen Corporation (FGen)....
Senator Risa Hontiveros on Monday, February 7, reiterated her support for the Senate resolution that seeks to recommend the filing of criminal charges against Energy Secretary Alfonso Cusi and other Department of Energy (DOE) officials that had a hand in the irregular sale of a 45-percent stake in...
Amid the intensifying political and legal scuffle relating to shares divestment in the asset, the Department of Energy (DOE) has assured that the Malampaya gas field will be on “seamless operation” in the remaining duration of the Duterte administration and up to the lapse of its service...
President Duterte has aired "grave concern" over what he described as the "apparent effort" at the Senate to put in a bad light the recent developments involving the Malampaya Gas Field. President Rodrigo Duterte (Malacañang photo) "This casts undue, undeserved, and unwarranted aspersion on the...
The Senate on Wednesday adopted a resolution that recommends the filing of charges against Department of Energy (DOE) Secretary Alfonso Cusi and other officials of the department who are involved in the approval of the sale of the participating shares of Chevron in the Malampaya gas field. The...
The two key government agencies exercising oversight and regulatory functions over the deregulated power industry are being urged to take "proactive steps" in monitoring, and if possible, minimize the occurrence of forced outages of power plants so Luzon grid will not be plunged into ‘dark spell...
