A bill seeking to classify gasoline, diesel and other petroleum products as basic necessities, making them under the government’s price control mechanism has been filed in the Senate. Sen. Paolo “Bam” Aquino IV filed Senate Bill No. 2011, saying the proposed law will address the gap in...
Four persons were arrested in Guinobatan, Albay for allegedly trading and selling petroleum products worth P2.3 million illegally. In a news release Friday, the Philippine National Police (PNP) said the suspects were caught selling petroleum products without the required license from the Department...
The Securities and Exchange Commission (SEC) has revoked the corporate registration of Dual Fuel Petroleum Corp. after finding the company illegally solicited investments from the public through a scheme that regulators likened to a Ponzi operation. In an order, the corporate regulator also imposed...
Amid escalating geopolitical tensions in the Middle East triggering a global oil crisis, the Department of Science and Technology (DOST), through the Philippine Council for Industry, Energy and Emerging Technology Research and Development (DOST-PCIEERD) and Palawan State University (PalSU), will...
Senator Sherwin Gatchalian believes that the Philippines could struggle to hit its 5 percent economic growth target this year due to lingering domestic challenges and the escalating tensions in the Middle East. In a radio interview with Usapang Senado over DWIZ on Saturday, March 7, Gatchalian was...
CANDELARIA, Quezon – Twelve individuals were arrested and large quantities of stolen gasoline were seized during the implementation of a search warrant in a warehouse in Barangay Santa Catalina Sur here on Jan.27. Police said the suspects were apprehended for alleged involvement in “paihi” or...
President Marcos said the signing of eight landmark petroleum service contracts (PSCs) worth over $200 million would reduce the Philippines’ near-total dependence on imported fuel and secure its long-term energy future. Speaking at the signing ceremony in Malacañan, the President said the...
Phoenix Petroleum Philippines Inc. informed the Philippine Stock Exchange (PSE) that it is unable to pay dividends due to its preferred shareholders because it has no unappropriated retained earnings. The PSE had written Phoenix Petroleum, directing it to give an update on the redemption and...
Independent oil firm Phoenix Petroleum Philippines Inc. announced that it is joining the rise of electric vehicle (EV) fleets through a partnership with V-Green Charging Station Development Philippines Inc. In a disclosure to the Philippine Stock Exchange (PSE) on Monday, Aug. 18, Phoenix said it...
Visayas fuel distributor Top Line Business Development Corporation, through subsidiary Light Fuels Corporation, is acquiring the gasoline station of Phoenix Petroleum Philippines, Inc. in Cebu. In a disclosure to the Philippine Stock Exchange, Top Line said its board of directors has unanimously...
Motorists are getting another round of relief as oil prices are set to go down further this week. Starting Tuesday, July 8, gasoline prices will decrease by ₱0.70 per liter, diesel by ₱0.10 per liter, and kerosene by ₱0.80 per liter. Shell Pilipinas, Seaoil, PetroGazz, and PTT are among the...
The Department of Energy (DOE) has assured the continued supply and delivery of petroleum products, such as liquefied petroleum gas (LPG), to Samar despite the recent weight limit imposed on the San Juanico Bridge. In a statement on Tuesday, May 27, outgoing Energy Secretary Raphael P.M. Lotilla...
