Lopez-led Energy Development Corporation (EDC) has formally pulled out its concession for geothermal resource exploration in Peru, citing turbulent political situation in that Latin American energy market as the main reason for such investment decision. The company - via its parent firm First Gen...
Listed firm Pilipinas Shell Petroleum Corporation (SHLPH) has secured P9.0 billion loan from the Bank of the Philippines Islands (BPI) and Metrobank. In a disclosure to the Philippine Stock Exchange (PSE), Shell said the P9 billion loan will be equally split between the two banks. The loan will...
Kuwait Foreign Petroleum Exploration Company (KUFPEC) is formally exiting the Galoc oil production venture in northwest Palawan basin, following the approval of the Department of Energy (DOE) on its withdrawal from the project. In a disclosure to the Philippine Stock Exchange (PSE) of Filipino firm...
Petron receives $37.48 M in tender offer of securities By BERNIE CAHILES-MAGKILAT Leading oil firm Petron Corporation announced that it received $37.48 million worth of securities as of January 12 deadline on its tender offer of $50 million worth of senior perpetual capital securities. In a...
The local stock market rose again on the back of more optimism in the US spurred by better corporate earnings. The Philippine Stock Exchange index added 56.14 points or 0.86 percent to close at 6,576.94 Thursday, December 22, with Conglomerates leading the advance while Banks and Miners declined....
The Nepomuceno-led Raslag Corporation, which just made its listing debut at the Philippine Stock Exchange (PSE) this week, will be expanding its solar business by about 95 megawatt-peak (MWp) capacity. The firm indicated that it will be utilizing bulk of its P700 million initial public offering...
To bring its planned 18,000 megawatts of renewable energy (RE) ventures into fruition, Ayala-led ACEN Corporation is penciling in a mammoth $18 billion, approximately P900 billion, capital outlay for the targeted solar and wind farm installations in Asian markets. ACEN President and CEO Eric T....
Citicore sets P70-B capital outlay By MYRNA M. VELASCO Citicore Renewable Energy Corporation (CREC) will be injecting capital outlay of P70 billion for the 1,500-megawatt renewable energy (RE) capacity buildup that it will be implementing over the next five years. In a briefing with the media, CREC...
The real estate investment trust (REIT) offering of Citicore Energy REIT Corporation (CREIT), which will debut this week at the Philippine Stock Exchange (PSE), has been oversubscribed across all tranches, including with the small local investors (LSI), trading participants and institutional...
Razon-led Prime Strategic Holdings Inc., via its subsidiary MORE Power Barge Inc. (MPBI), had paid P126 million in cash to ACEN Corporation of the Ayala group for the acquisition of the latter’s 32-megawatt Power Barge 101 in Iloilo. According to the Ayala energy firm, the payment was turned over...
Citicore Energy REIT Corporation (CREIT), a subsidiary of Citicore Power Inc., is expected to corner ‘strong interest’ on its real estate investment trust (REIT) listing, wich will be the first for such asset class in the renewable energy (RE) industry to be undertaken. According to Ben Thomas...
Citicore REIT Corporation (CREIT), a subsidiary of Megawide-affiliated Citicore Power Inc., has secured the approvals of the Securities and Exchange Commission (SEC) and the Philippine Stock Exchange (PSE), for its real estate investment trust (REIT) listing which will be a trailblazing offer for...
