The operator of the Malampaya gas field is scheduling at least four "production holds" or gas restriction occurrences next year, according to the Department of Energy. “Based on the submitted document from SPEX (Shell Philippines Exploration B.V.), there will be four scheduled ‘production...
In line with the Philippine government’s decarbonization commitment to the 26th Conference of the Parties (COP) Climate Change Summit, the Department of Energy (DOE) has projected of more than P4.874 trillion worth of "green investments" that could be rolled out in the country. According to...
Panay Energy Development Corporation (PEDC) submitted the ‘lowest bid’ in a competitive selection process (CSP) carried out by power utility giant Manila Electric Company on Friday, Nov. 19, for its procurement of additional 70-megawatt supply. According to the third party bids and awards...
Surigao del Sur Rep. Johnny Pimentel has called for the Department of Energy (DOE) to assure the “seamless transfer” of Malampaya’s day-to-day gas business amid calls for a probe of Shell Petroleum B.V.’s $460 million operator switch to Udenna Corp. “We are counting on a smooth handover...
Motorists will be in massive financial relief next week, as oil prices will be on another round of big-time rollbacks, according to the calculation of oil companies. Based on industry estimates, the price of gasoline will be trimmed by P1.10 to P1.20 per liter; diesel by P1.20 to P1.30 per liter;...
Aboitiz Power Corporation has committed to their host communities of continued support as it injects more fund to help alleviate the economic woes of people across its project sites. This developed as the Department of Energy (DOE) remitted P714 million to Aboitiz Power. The P714-million financing...
The Udenna Corporation of Davao businessman Dennis A. Uy strongly denied accusations that the company took out cash from the Malampaya revenues, which in turn, was allegedly used to pay for its acquisition of the 45 percent shareholdings of US firm Chevron Corporation in the Philippine gas field...
Oil firms asked to explain lower-than-calculated gasoline rollback Myrna M. Velasco The Department of Energy (DOE) is seeking explanation from the oil companies why they have just implemented P0.90 per liter rollback in gasoline prices, which is lower than the calculated P1.10 to P1.20 per liter...
A subsidiary-company of SN Aboitiz Power Inc. (SNAP) has filed a motion for reconsideration on the fines imposed by the Energy Regulatory Commission (ERC) on alleged ‘forced outage breach’ of its Ambuklao-Binga hydro power plant in Benguet. SNAP- Benguet said the regulator-enforced...
Budding energy firm Solar Philippines Nueva Ecija Corporation (SPNEC) has secured the approvals of the Securities and Exchange Commission (SEC) and Philippine Stock Exchange (PSE) on its initial public offering (IPO) this year. The designated issue manager and lead underwriter for the planned...
Dennis Uy breaks silence; claims US$191-M capitalization in Malampaya buy By Myrna M. Velasco Davao businessman Dennis A. Uy finally broke his silence to refute allegations of "negative working capital" as he claimed that his Udenna subsidiaries have $191 million capitalization, not $100 million,...
After last week’s relief on consumers’ pockets, motorists using gasoline products on their vehicles can continue to breathe easy as this commodity will have another hefty rollback of more than P1.00 per liter next week. Based on calculations by industry players, the widely used 92 RON unleaded...
