Manuel V. Pangilinan-led PXP Energy Corp. plans to expand its exploration footprint in the Northwest Palawan basin, anticipating the award of two additional service contracts (SCs) as it seeks to boost its reserves amid widening losses. In a disclosure to the Philippine Stock Exchange on Thursday,...
Manuel V. Pangilinan-led listed upstream oil and gas company PXP Energy Corp. has increased its stake in Canada’s FEC Resources Inc., which holds a key interest in an oil and gas exploration project off Palawan. In a disclosure to the Philippine Stock Exchange (PSE) on Friday, Aug. 1, PXP Energy...
Tycoon Manuel V. Pangilinan, who is also the chairman of PXP Energy Corporation, has an extraordinary wish for this year’s holiday season – a “Chinese Santa Claus” who will finally give a strife-free nod to petroleum exploration in the turbulent waters of West Philippine Sea,...
Pangilinan-led PXP Energy Corporation has cemented tie-up with Australian and British firms for the bids it submitted for two petroleum blocks auctioned in the Sulu Sea basin by the Department of Energy (DOE) and the Ministry of Environment, Natural Resources and Energy (MENRE) of the Bangsamoro...
Pangilinan-led PXP Energy Corporation has formally secured the approval of the Department of Energy (DOE) for the relinquishment of its interest in a petroleum block in the Northwest Palawan basin that was previously awarded under Service Contract (SC) 74. “The DOE has approved the surrender of...
Pangilinan-led PXP Energy Corporation is still focused on intensifying its plea to the government for the targeted lifting of the ‘force majeure’ roadblock that had been enforced on its planned exploration and drilling activities at its petroleum blocks along Palawan basin. The company has been...
Philippine upstream company PXP Energy Corporation is now coming to terms with the idea that the resumption of exploration at the Recto Bank prospect will rely on the political decision of the national government (NG), primarily considering the diplomatic alliances of the administration with global...
Pangilinan-led PXP Energy Corporation is seeking anew the imprimatur of the government to recommence its targeted petroleum exploration activities at the “unsettled waters” of the West Philippine Sea. “PXP and Forum will continue to coordinate with the government on the resumption of...
Pangilinan-led PXP Energy Corporation has significantly slashed its losses in the first quarter to P5.6 million from a relatively heftier P16.9 million within the same three-month stretch last year. The company’s net loss attributable to equity holders of its parent firm had been at P4.3 million,...
Pangilinan-led PXP Energy Corporation has substantially trimmed its consolidated net loss last year to P76.3 million compared to a considerably enormous scale of P297.2 million in 2019. On a core net loss basis, the company was also able to bring that down to P45.7 million in 2020 versus the...
Year-ender Today, I give you pain. Tomorrow, who knows? For industry players in the energy sector, that’s their tale of woe this year given decimated top and bottom lines with demand crash on energy commodities. Onward, uncertainties hold sway. At the height of the lockdown period in March-May,...
The Philippine government has directed Pangilinan-led PXP Energy Corporation to go ahead with its programmed seismic survey and well drilling at the Recto Bank even without securing first the concurrence of China National Offshore Oil Corporation (CNOOC) or that of the Chinese government. Energy...
