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The rise of the pandemic side-hustle

AS media group ABS-CBN Corp. was battling to keep its Congressional franchise, it began to dawn on Dominique Muli, a production assistant for ABS-CBN News Channel (ANC), that her budding media career might be cut short.

PHL may attract oil traders after loss of refining sector

MORE oil traders might see the Philippine downstream market attractive with the impending loss of its oil refining industry, according to an oil executive.

Damage to rural utilities from typhoon Quinta initially estimated at P51-M

Electric cooperatives sustained P50.92 million worth of damage from Typhoon Quinta (international name: Molave) according to initial estimates released by the National Electrification Administration...

First Gen plans LNG distribution expansion

Lopez-led First Gen Corp. is preparing a distribution plan to deliver liquefied natural gas (LNG) throughout the country ahead of the construction of its...

Wilcon profit slips 3% on store closures

Quarantine restrictions still weighed down on Wilcon Depot, Inc. as it earned P533.21 million in the third quarter, lower by 2.92% from a year...

International expansion lifts Emperador’s profit to P2.5B

Emperador, Inc.'s profit to owners climbed by over a quarter in the three months to September, attributed to contributions of its thriving international business. The...

Del Monte Phillippines earns P900M in first quarter

Del Monte Philippines, Inc. maintained a year-on-year P900-million net profit in the three months to July on the back of "strong" domestic sales in...

NGCP installs P1.1-billion transmission line in Mindanao

Private-led National Grid Corporation of the Philippines (NGCP) has mounted a P1.1-billion transmission line covering the northeastern portion of Mindanao. The second Butuan-Placer 138 kilovolt...

Solar firms want more foreign equity stake

THE Energy department should craft a policy that removes the 40% foreign ownership cap on solar energy projects, developers said, after the agency announced on Tuesday that it is opening large geothermal development to foreigners.

Solar installations to power San Miguel’s Bulacan airport

LISTED conglomerate San Miguel Corp. (SMC) plans to install solar technologies to power its international airport project in Bulacan, its top official said.

ERC extends no-disconnection policy for poorer power users

THE Energy Regulatory Commission (ERC) said Thursday that it ordered all power distributors to delay any disconnections of poor consumers until the end of the year.

San Miguel to build LNG power plants

CONGLOMERATE San Miguel Corp. (SMC) intends to build more liquified natural gas (LNG) power plants with over 5,000 megawatts (MW) of capacity over the next years, its top official said.

Consunji energy firm’s profit down 71% in Q3

SEMIRARA Mining and Power Corp. saw its after-tax profit drop by 71% to P750 million in the third quarter of the year, affected by the decline in coal and energy sales.

US firm to seek permit to build offshore Batangas LNG terminal...

EXCELERATE ENERGY LP said Wednesday its preparations to build an offshore liquified natural gas (LNG) terminal project in Batangas are nearly complete and that it will seek a permit to start construction “soon” from the government.

DoE bans new coal-run power plants

THE Department of Energy (DoE) on Tuesday declared a moratorium on new coal power plant projects, while allowing foreign investors to fully own geothermal plant projects in the country.

Petron refinery to close ‘very soon’

THE country’s lone refiner Petron Corp. will be closing its 180,000 barrel-per-day refinery in Bataan “very soon” as it continue to bear losses from a challenged, refining environment and uneven playing field, its top official said on Tuesday.

Nine power generators bidding to supply Meralco

NINE GENERATION companies have expressed their interest in bidding for supply contracts with Manila Electric Co. (Meralco) in 2024 and 2025, Meralco said.

Meralco’s third-quarter core profit down 16%

MANILA Electric Co. (Meralco) on Monday reported a core net income of P5.14 billion in the third quarter, down 16.3% from a year ago but milder than the fall it posted in the second quarter this year when its customer base was under a strict lockdown.

Phoenix set to open FamilyMart convenience stores in Cebu

PHILIPPINE FamilyMart CVS, Inc. is set to launch three convenience stores in Cebu this week.

Insurers evaluating pay-per-use, small payments as users tighten belts

INSURERS said they are adjusting to the economic damage sustained by their clients during the pandemic by evaluating products like pay-per-use auto coverage and offering schemes that feature smaller payments.

Energy dep’t approves formation of new WESM compliance committee

A NEW committee overseeing the electricity spot market will be formed soon to monitor its operations and adjudicate rules breaches, the Department of Energy (DoE) said.

Energy committee chairman flags P2.5B in unliquidated subsidies to rural utilities

THE National Electrification Administration (NEA) violated its own policy of halting subsidies to rural utilities with a backlog of unliquidated previous funding, the chairman of the Senate energy committee said.

Loss of domestic refining seen driving up PHL fuel costs; risks...

THE Philippines will have to spend more on imported petroleum products over the coming years should it be left with one domestic refinery or...

Rural utilities warn delayed bill payments to have serious impact on...

THE delayed payment of power bills during the entire quarantine period will have a serious impact on the entire power supply chain, electric cooperatives...

First Gen seeks ship bids

LOPEZ-LED First Gen Corp. has issued bid invitations to its three preferred providers of a natural gas transfer vessel to be used in its short-term import terminal in Batangas.

PNOC defers strategic oil reserve feasibility study to next year

PHILIPPINE National Oil Co. (PNOC) said it moved back the start of its feasibility study on establishing a strategic petroleum reserve next year due to delays caused by the coronavirus pandemic.

Phoenix, Autoworx Plus team up for sanitation services at stations

PHOENIX Petroleum Philippines, Inc. has placed sanitation hubs at select fuel stations, offering professional car cleaning and disinfection services.

Gov’t to borrow P38B to fund Murang Kuryente obligations next year

THE GOVERNMENT will need to borrow around P38 billion to cover the full cost of its obligations under the Murang Kuryente Act because the budgeted funds amount to only P8 billion, the Power Sector Assets and Liabilities Management (PSALM) Corp. said.

PHL won’t give up arbitral win over joint exploration

THE Philippines maintained it will not set aside its arbitral win against China over disputed areas in the West Philippine Sea just to proceed with joint oil and gas development, the country’s energy chief said on Monday.

AC Energy, partner to build $36-M solar farm in India

AYALA-LED AC Energy, Inc. and its partner are expanding their network in India with another solar farm in the pipeline.

Higher LPG sales lift Pryce’s third-quarter profit 

PRYCE CORP. on Monday reported a 1.24% rise in its net profit between July and September to P1.222 billion over a year ago as it saw growth in liquefied petroleum gas (LPG) sales.

Groups want MGen coal plant project’s ECC declared expired

VARIOUS anti-coal groups have asked the government to declare the expiration of the environmental compliance certificate (ECC) of Meralco Powergen Corp.’s (MGen) large coal power plant project in Quezon province as its construction was supposedly delayed for five years.

Regional Updates (10/18/20)

RESIDENTS from anywhere in Luzon can visit Baguio again starting October 22, the city government announced Sunday.

Lifting exploration ban won’t affect China deal — energy chief

A government decision to resume exploration activities in the South China Sea will not affect its non-binding deal with China to jointly explore gas...

Robinsons Retail acquires Rose Pharmacy

Gokongwei-led Robinsons Retail Holdings, Inc. is now the new owner of Cebu-based Rose Pharmacy. On Friday, the retailer said its wholly owned subsidiary South Star...

AC Energy infuses more funds into Bataan Solar

Ayala-led AC Energy Philippines, Inc. (ACEN) is investing more funds into the development of a solar facility in Bataan. The power company told the stock...

US firm seeks Philippine LNG projects

THE United States-listed New Fortress Energy LLC (NFE) will be screening for investment opportunities in the country for future liquified natural gas (LNG) projects.

Rural utilities post growth in sales, revenues in 2nd quarter

RURAL utilities posted a collective rise in energy sales and revenues between April and June on increased power usage of their residential consumers.

DoE may issue new subsidy policy for power supply to remote...

THE Department of Energy (DoE) is studying a new policy for subsidies on power supplied to remote areas, including the removal of missionary charges currently being paid by consumers.

Coal, hydro plants expected to mitigate Malampaya shutdown

THE possible uptick in power prices next month due to maintenance on the Malampaya field can be cushioned by dispatching more power from baseload coal and hydropower plants, the independent market operator said.

Regulator may extend freeze order vs power cuts to end of...

THE Energy Regulatory Commission (ERC) said it will require power distributors to extend the moratorium on power disconnections until the end of the year.

LNG imports still ‘best option’ for PHL energy security — DoE

LIQUIFIED NATURAL GAS (LNG) imports remain the best way to address the Philippines’ power needs in the next few years, the Secretary of Energy said.

MGen’s solar project in Bulacan set for grid impact study

THE Department of Energy (DoE) signed off the solar farm project of Meralco Powergen Corp. (MGen) for a grid impact study.

More power consumers seen joining RCOA by 2021

THE Energy Regulatory Commission (ERC) said it is targeting more participation next year in a scheme allowing consumers to select a preferred electricity provider.

State lacks cash to buy into SPEx stake in Malampaya –...

THE PHILIPPINE GOVERNMENT does not have the cash now to buy into Shell Philippines Exploration, B.V.’s (SPEx) stake in the country’s sole natural gas field as the ongoing pandemic drained its financial resources, according to a senator.