In the first five years of its implementation, fuel marking added to government coffers a total of P988.8 billion in tax revenues, inching closer to the P1-trillion mark with one more year before the program's contract ends. The latest data obtained by Manila Bulletin on Tuesday, Sept. 17, showed...
The days of ‘secrecy’ in weekly oil price adjustments are numbered following the Supreme Court’s decision which upheld the fuel cost unbundling policy that the Department of Energy (DOE) initially attempted for implementation via a Circular in 2019. Relative to the high court ruling, former...
Japeth Aguilar put up his best offensive performance in the last four years while Justin Brownlee finished with a triple-double as Barangay Ginebra fended off Phoenix, 110-101, to notch its first win streak in the PBA Season 49 Governors’ Cup at the Ninoy Aquino Stadium on Friday, Sept. 6....
Owing primarily to favorable outcome of its better inventory holdings, major oil firm Shell Pilipinas Corporation posted significant hike of 1,320 percent in its first half net income to P1.7 billion from relatively lean profit of P123 million in the same period last year. The company indicated...
Despite robust outcome at its top line, the consolidated net income of leading oil player Petron Corporation posted a slight downturn in the first half to P6 billion from last year’s P6.14 billion in the same period. On the company’s operating income, this logged more favorable result with 8.0...
The Department of Energy (DOE) has instructed players in the deregulated downstream oil industry to assess the quality of their fuel products before these are retailed to customers – primarily if there had been infiltration of floodwaters in their underground storage facilities or if some...
(Ali Vicoy/ MANILA BULLETIN) The executive and the legislature must prioritize measures that seek to lower fuel prices for the sake of ordinary Filipinos. Thus, said House Deputy Minority Leader ACT Teachers Party-list Rep. France Castro even as...
The Energy Regulatory Commission (ERC) has slapped Isabela II Electric Cooperative (ISELCO) with P2.0 million penalty due to its failure to validate the generation charges it passed on to its customers and for not complying with required fuel audit process. The regulatory body stipulated that the...
CEBU CITY – Fuel allocations for all Cebu City and barangay-owned vehicles were suspended due to allegations of pilferage. Acting Mayor Raymond Alvin Garcia ordered the suspension on Tuesday, June 18, after former and current employees of Cebu City Disaster Risk Reduction and Management Office...
Leading industry player Petron Corporation has ramped up outputs at its two refineries in the Philippine and Malaysian markets to sustain sales volume that have been propping up targeted profitability levels. During the company’s annual stockholders’ meeting, Petron Chief Finance Officer...
Reinforced by the company’s strategies anchored on cost management strategies and injecting efficiency across its supply chain, the first quarter financial performance of Shell Pilipinas Corporation this year leaped to P1.4 billion from P800 million within the comparative three-month stretch in...
Anchoring it on a ‘refreshed strategy’, listed firm Shell Pilipinas Corporation will be tightening its belt with leaner capital expenditures (capex) rollout of just P2.0 billion to P3.0 billion this year, roughly half from last year’s P5.0 to P6.0 billion of programmed capital spending....
