Players in the liquefied gas sector expect significant reduction in violations and illegal trade activities given tighter sanctions against offenders under the newly enacted LPG Industry Regulation Act. Leading LPG firm Petron Corporation stated that the passage of Republic Act 11592 “will...
While the PSEi retreated right after breaching the 7,300 level, the market is seen to try to push it back again if it gets encouraging news from initial corporate earnings results as well as from the new COVID cases reports. “While the local market had a good run this past trading week, it was...
The petroleum refining volume in the country significantly dropped by 66.5-percent in the first six months this year due to the shutdown last year of the Tabangao refinery of Pilipinas Shell Petroleum Corp., the Department of Energy reported. So far, the only remaining refinery in the country is...
Leading oil firm Petron Corporation has accomplished on Tuesday, Oct. 12, its listing with the Philippine Dealing and Exchange Corporation (PDEx) for the P18-billion first tranche of its fixed rate peso-denominated retail bonds. That bond issue will be the initial fund-raising activity of the oil...
With recovery in oil demand, the country’s total oil import bill in the first half this year significantly climbed by 55.9-percent to $4.795 billion from a leaner $3.075 billion in the same period in 2020. In a report released by the Department of Energy (DOE), it specified that one key factor...
Leading oil firm Petron Corporation is scheduling the redemption of its Series 2B preferred shares by November 3 this year at a redemption price of P1,000.00 per share. In a disclosure to the Philippine Stock Exchange (PSE), the company noted that it already “commenced delivery of its notice of...
Philippine leading oil firm Petron Corp. is negotiating for the renewal of a 10-year supply contract for crude oil that shall be fed and processed at its Port Dickson refinery in Malaysia. According to company documents, Petron is “in negotiation for renewal” of its supply contract for Tapis...
The Securities and Exchange Commission (SEC) has approved the P6 billion market debut of AllDay Marts, Inc. and the P18- billion bond offering of Petron Corporation. 34600 In its meeting last September 23, the Commission En Banc resolved to render effective the registration statements of AllDay...
Top Frontier Investment Holdings Inc., the owner of 67 percent of San Miguel Corporation, reported that its net income soared 802 percent to P28.15 billion in the first half of 2021 from the P4.01 billion net loss suffered in the same period last year. In a disclosure to the Philippine Stock...
The financial rebound of leading oil firm Petron Corporation is now on solid footing as it concluded this year’s first half with P3.87 billion net income, a phenomenal ricochet from P14.24 billion net loss in the same period last year. The oil firm’s operating income at P8.95 billion similarly...
As Filipinos scramble for their last-minute errands prior to strict pandemic lockdown, consumers’ pockets will be ripped anew with higher budgets this week as gasoline prices will go up by P1.05 per liter, as announced by the oil companies. Additionally, the price of diesel will increase by P0.80...
With the proposed Liquefied Petroleum Gas (LPG) Regulation Bill already inching closer to becoming a law, leading player Petron Corporation is eyeing that more robust competition will finally reign in the sector, as rouge industry traders will eventually be snuffed out with the stricter...
