Billionaire Ramon S. Ang is reviving a proposal to sell Petron Corp. back to the government, framing the move as a way to bolster energy security while the nation grapples with a declared national energy emergency. The offer from the San Miguel Corp. chairman and chief executive officer comes as...
The 142,000 barrels (approximately 22.578 million liters) of diesel fuel scheduled to be formally received by Energy Secretary Sharon Garin this weekend will be unloaded at the bulk storage facility of independent player Seaoil Philippines in Mabini, Batangas, a government source privy to the...
BAGUIO CITY – Most bus companies serving this city have reduced regular trips by 30 percent in line with fuel conservation measures due to overseas conflict. Police Lt. Col. James Allen Dogao, chief of the Baguio City Police Office-Traffic Enforcement Unit, said bus companies have increased their...
Fuel prices are expected to offer a slight reprieve to motorists next week following a period of aggressive “big time” hikes, as easing geopolitical tensions in the Middle East begin to cool global energy benchmarks. According to industry data based on the four-day trading Mean of Platts...
The Federation of Philippine Industries (FPI) is backing targeted measures to mitigate the impact of surging energy costs, though the group warned that remote-work mandates must account for the operational realities of the manufacturing sector. The International Energy Agency recently urged global...
With tough times ahead, austerity is the new buzzword. Yes, Virginia, we are in belt-tightening mode. The legs of inflation have walked their way into every aspect of basic services, with no apparent de-escalation of hostilities on the horizon. As an emerging economy, the Philippines is believed to...
The government received its initial shipment of imported diesel on Thursday, March 26, marking the start of a state-led effort to stabilize domestic fuel stocks and insulate the economy from global price volatility. The Department of Energy said the agency took delivery of approximately 22,578,000...
SM Supermalls will shorten operating hours across its locations starting March 30 as the country grapples with the declared national energy emergency. In a statement, the retail unit of SM Prime Holdings Inc. said TSM Supermalls’ shopping centers will adjust their opening times to 11 a.m. from...
Flag carrier Philippine Airlines (PAL) is cutting down its international and domestic connectivity from regional airports as it looks to optimize services to minimize the impact of the Middle East conflict on its operations. In an advisory on Thursday, March 26, PAL said it is implementing...
The Philippines can quarantine a virus, but it cannot quarantine the global oil market. This is the warning from one of the architects of the country’s pandemic recovery, who argues that the current fuel shock could be a more ruthless economic adversary than Covid-19. While the health crisis was...
Philippine Airlines (PAL) said it has shored up its jet fuel reserves for the “foreseeable future,” seeking to calm markets after President Marcos warned that the regional energy crisis could potentially ground the country’s carriers. In a statement on Wednesday, March 25, the flag carrier,...
