Even with President Rodrigo Duterte singing a different tune that he can no longer take back territories claimed by China, the Department of Energy (DOE) stated that it is bent on awarding more petroleum service contracts at blocks straddled by disputed territories within the West Philippine Sea....
Fort Pilar Energy Inc., which is the winning buyer of the 650-megawatt Malaya thermal power facility, is a new company that currently has investment of P5.0 billion for 100-megawatt hour (MWh) battery energy storage system (BESS) facility in Zamboanga Peninsula, according to asset-seller Power...
The Department of Energy (DOE) is elevating energy plan aligning it with the security enforcement agencies of the government to address security-linked concerns. These national security concerns include oil and gas exploration at disputed territories like the West Philippine Sea, and the...
Power utility giant Manila Electric Company (Meralco) has completed P4.2 billion worth of capital expenditure (capex) projects in this year’s first quarter, with the bulk of P3.4 billion funneled to electric capital projects. The scale of the company’s capital outlay within that three-month...
The Department of Energy and state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) have collaboratively called for greater inflow of investments in the country’s upstream petroleum sector if the Philippines would really have to cement its energy security pathway....
Petroleum prices are expected to increase again by Tuesday next week, based on the calculation of the oil companies. According to the industry players, gasoline prices are expected to rise by P0.60 to P0.70 per liter, while diesel and kerosene will potentially go up by P0.65 to P0.75 per...
The consolidated net income of Consunji-led Semirara Mining and Power Corporation (SMPC) significantly climbed by 93-percent to P2.3 billion within first quarter this year versus P1.2 billion in the same period last year. On stream of revenues, that also surged by 27-percent for the company to P9.3...
Filipino firm Fort Pilar Energy Inc. emerged as the winning buyer of the 650-megawatt Malaya thermal power facility with P3.123 billion price offer – the divestment process of which was through a negotiated deal consummated on Friday (May 7). State run Power Sector Assets and Liabilities...
The customers of Manila Electric Company (Meralco) will need to earmark slightly higher budget for their electric bills this month, as the utility firm’s overall tariff had gone up by P0.1853 per kilowatt hour (kWh) to P8.5920 per kWh from the last billing cycle’s P8.4067 per kWh. For...
Norwegian companies that are interested to inject fresh capital into the country’s renewable energy (RE) sector have been batting for the easing of legal restraints on foreign ownership, primarily on solar and wind installations. In a virtual launch of the Report on RE Opportunities in the...
Ayala-led firm AC Energy Corporation has lowered the scale of proceeds it can fetch from its follow-on offering (FOO) to P13.07 billion from a higher end target of P16.4 billion that it first penciled in early this year. The targeted stream of revenues from the FOO though is still very much within...
The Duterte administration is now on its last year stretch, but the government still cannot give a definitive timeframe on when the decision on the propounded license extension of the Malampaya project will be laid down. “We don’t have final decision yet of the DOE (Department of Energy) and...
