On account of the rising value of the US dollar versus the local currency and high oil prices in the world market, the Department of Energy (DOE) is re-calculating the rate hikes that will be passed on in the electric bills of consumers when the Malampaya gas production facility will be on...
Electricity rates are expected to rise again in this billing month due to a confluence of factors such as the peso depreciation versus the US dollar, and uptick in the oil spot market prices, according to the Manila Electric Company (Meralco). 23953 “There may be a high probability for an...
‘Midnight deal’ The Department of Energy (DOE) has been cautioned on granting a ‘midnight deal extension’ for the license or the Service Contract 38 of the Malampaya venture. Senator Sherwin T. Gatchalian, chairman of Senate committee on energy, issued this caution given that by the...
The Philippine energy sector is bracing for a “triple whammy” next year – especially in the peak demand months of summer – due to highly probable continued forced outages in power facilities; de-rating of the gas plants; and shortage of gas fuel that can already be extracted from the...
The Department of Energy (DOE) is being urged to bid out an operation and maintenance (O&M) agreement for the Malampaya project, so the gas field can continue operating without hitches beyond the expiration of its service contract in 2024. According to Senate Committee on Energy Chairman...
Malampaya gas facility buyer Udenna Corporation of businessman Dennis Uy has finally raised alarm bells that the field will already suffer from gas production shortfall starting next year and this could worsen the power crisis problems of the Philippines. “The country will surely be short of...
The House Committee on Energy on Friday, July 16 approved a bill that seeks to fully develop the Philippine downstream natural gas industry and consolidate all laws relating to the transmission, distribution and the supply of natural gas. Natural gas Malampaya Authored by Speaker Lord Allan Velasco...
The Department of Energy (DOE) has admitted that it used an unaudited financial statement of a subsidiary-company of Udenna Corporation as the government’s basis in evaluating the firm’s financial capacity as well as in approving the latter’s acquisition of the 45-percent stake of American...
As it will be handing over the Malampaya gas field venture to a non-technical buyer, Shell Philippines Exploration B. V. (SPEX) indicated that it will be providing a “six-month transition operation” on the facility as part of the handover process to new owner Malampaya Energy XP Pte. Ltd....
The Singapore-incorporated Malampaya Energy XP Pte. Ltd., a subsidiary of Udenna Corporation of businessman Dennis Uy, which is buying the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the Malampaya gas field venture, has just US$100 (or P5,000) capitalization, as revealed in a...
Multinational giants Chevron Corporation and Royal Dutch Shell have pocketed over P350 billion in revenues from the Malampaya gas field project prior to their respective exits from the venture. As culled from government documents, the royalty share of the two foreign energy giants had been on top...
The Philippine Coast Guard (PCG) has intercepted a boat loaded with sacks of hazardous chemicals and boxes of smuggled cigarettes during an intense pursuit in the vicinity waters off Malampaya Gas Platform, Palawan. The Philippine Coast Guard (PCG) intercepted a boat loaded with sacks of...
