Amid its ongoing exploration program, Manuel V. Pangilinan-led PXP Energy Corp. widened its net loss in the first half of the year, weighed down by lower crude prices, reduced production volumes, and elevated financing costs. In a disclosure to the Philippine Stock Exchange on Tuesday, Aug. 4, PXP...
Manila Electric Co. (Meralco) customers are set to save nearly ₱5 billion through the end of the year after the country’s largest power distributor secured lower rates under an extended supply contract with the First Gas Sta. Rita plant. Jose Ronald Valles, Meralco head of regulatory affairs,...
Prime Energy Resources Development NV completed a month-long maintenance shutdown at the Malampaya deep-water gas-to-power project, restoring domestic gas flows and clear-cutting the path for a major field expansion by late next year. In a statement on Friday, July 17, Prime Energy said that gas...
Luzon faces potential power supply strains over the coming weeks as the Department of Energy (DOE) announced a month-long scheduled maintenance shutdown of the Malampaya deepwater gas-to-power project starting Monday, June 15. In a statement released Friday, June 12, the DOE said the maintenance...
The Malampaya Phase 4 (MP4) project is advancing at a steady clip with subsea pipelaying and offshore construction activities now in full swing offshore Palawan, according to Prime Energy Resources Development NV. In a statement on Tuesday, May 5, Prime Energy said that this development follows a...
Prime Energy Resources Development NV is moving to solidify the future of the Philippines’ most critical energy asset by initiating data reviews for a new exploration well that could further extend the lifespan of the Malampaya gas field. In a briefing on Tuesday, April 14, Donnabel Kuizon-Cruz,...
Prime Energy Resources Development NV and its partners are on track to begin gas production from the fourth phase of the Malampaya deep-water gas-to-power project by the final quarter of 2026, following successful drilling results at a key offshore well. The Camago-3 well, located in offshore...
The Armed Forces of the Philippines (AFP) has intensified its monitoring patrols at the Malampaya gas field in Palawan to secure the country’s energy lifeline after the discovery of a new source of natural gas in the area. No less than General Romeo Brawner Jr., AFP Chief of Staff, personally led...
The Philippine Coast Guard (PCG) assured the public of the swift and strategic deployment of its assets at the Malampaya gas field in Palawan following the discovery of a new source of natural gas in the area. PCG Commandant Adm. Ronnie Gil Gavan ordered the deployment of 97-meter and 44-meter...
President Marcos announced on Monday, Jan. 19, the discovery of a new natural gas reservoir east of the Malampaya field, marking the country’s first significant gas find in more than ten years and strengthening domestic energy security. In a video report posted on his social media accounts,...
Last year, the Department of Energy (DOE) stamped its confidence on Malampaya with the drilling of three new wells, promising fresh gas flows from the country’s only commercial field starting this 2026. The drilling timetable had slated October–November 2025 as the completion date; yet months...
When President Marcos took office in 2022, his administration vowed to ramp up oil and gas investments, starting within the safer terrains of the Philippines’ exclusive economic zone (EEZ). It also eyed the flashpoint: restarting exploration and drilling in the contested waters of the West...
