Tag: #Malampaya
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No violation seen in Chevron-Udenna deal in Malampaya
Amid controversies stirred up by the transaction, the Department of Energy (DOE) indicated that it had not seen ‘violation’ in the sale and purchase agreement (SPA) sealed by American firm Chevron Corporation and Udenna Corporation in the 45-percent stake of Malampaya that was unloaded by the former in March this year.
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Meralco rates flattish for December billing
Customers of Manila Electric Company (Meralco) will not need to be anxious on their December electricity bills, as initial forecast point to “flattish rate” or there could be very slight cost movement in the overall tariff.
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Cusi asks ASEAN neighbors to join oil exploration at West Philippine Sea
With the West Philippine Sea already legally opened by the government for oil and gas exploration, Energy Secretary Alfonso G. Cusi has intensified his call on neighbor-countries in the Southeast Asian region to join in the ‘upstream exploration ventures’ in Philippine waters.
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Malampaya’s remaining gas seen topping 1.6TCF
The remaining potential yield of the Malampaya gas production facility could go as high as 1.6 trillion cubic feet (TCF), or half of the current capacity of the field that is now being funneled for the requirements of more than 3,200 megawatts of gas-fired power capacities in the country.
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Malampaya turns in P311-B revenue share to government
The Malampaya deep water gas-to-power project had already turned in P311 billion worth of revenues to the Philippine government since the start of its commercial operations, according to Senate Committee on Energy Chairman Sherwin T. Gatchalian.
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Meralco monitoring impact of Malampaya maintenance on power rates
Power utility giant Manila Electric Company (Meralco) said it will be monitoring the probable impact of higher power rates that will result from the scheduled maintenance at the Malampaya gas platform this month.
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Gov’t dangles 8 ‘conditions’ in Malampaya license extension
The Philippine government is dangling at least eight conditions that the consortium-members of Service Contract (SC) 38 led by Shell Philippines Exploration B.V. (SPEX) must comply with for the license extension of the $4.5 billion Malampaya deep-water-gas to power project.
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Chevron’s sale of Malampaya stake to Udenna is ‘voidable contract’ –DOE
The $565 million sale of American energy giant Chevron Corporation for its 45-percent stake in Malampaya to businessman Dennis Uy’s Udenna Malampaya LLC is a “voidable contract,” the Department of Energy (DOE) has disclosed in a Senate hearing.
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PSALM to borrow P38-B for power rate reduction subsidy
State-run Power Sector Assets and Liabilities Management Corporation (PSALM) will need to borrow P38.4 billion this year to augment the funds needed for the power rate reduction subsidy mandated under Republic Act 11371 or the Murang Kuryente Act (MKA) that was signed by President Rodrigo Duterte into law last year.
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US firm Excelerate racing ahead to bring first FSRU LNG facility to PH
American firm Excelerate Energy is racing ahead in bringing to commercial fruition the country’s first floating storage regasification unit (FSRU) for imported liquefied natural gas (LNG) by the second quarter of 2022.
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Gov’t has no money to buy Shell stake in Malampaya
With forecasts of hiked budget deficits until next year, Senate Committee on Energy Chairman Sherwin T. Gatchalian forthrightly stated that the Philippine government has no money to buy the 45-percent stake being unloaded by Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya gas field project.
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Dennis Uy, PNOC-EC interested to acquire Shell stake in Malampaya
Businessman Dennis Uy has formally indicated that his company Udenna Corporation, along with state-run Philippine National Oil Company-Exploration Corporation (PNOC-EC) would be interested to acquire the 45-percent stake being unloaded by Shell Philippine Exploration B.V. (SPEX) in the multi-billion dollar Malampaya gas field project.
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PH royalty from Malampaya hits $11.7 B
The royalty share of the Philippine government from the Malampaya project’s operations has so far reached $11.7 billion, significantly higher than the $8 billion estimate when the gas field started commercial operation in 2001.
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PNOC dangles initial offer for Shell’s stake in Malampaya
State-run Philippine National Oil Company (PNOC) has initially sounded off interest in the 45-percent shareholdings of Shell Philippines Exploration B.V. (SPEX) in the multi-billion Malampaya gas field venture.
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Shell subsidiary plans sale of 45% stake in Malampaya
The Philippine upstream subsidiary of Royal Dutch Shell plc is planning to sell its 45-percent stake in the US$4.5 billion Malampaya deep water gas-to-power project if it can corner enticing offer from prospective takers.