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Israeli firm wants to expand petroleum exploration

AN ISRAELI FIRM sought to cover a wider gas and oil exploration area in the country, according to the Department of Energy (DoE).

LPG bill gets support from oil giant Petron

PETRON CORP. on Tuesday declared its support to a measure regulating the liquefied petroleum gas (LPG) sector.

Power demand falls after return to strict lockdown

PEAK electricity demand “drastically” declined in the first week of August after Metro Manila and adjacent provinces returned to a stricter form of lockdown, known as modified enhanced community quarantine (MECQ), due to mounting coronavirus infections.

Electricity rates down for fourth straight month

ELECTRICITY RATES in Metro Manila slipped this month, with typical households likely to see a P41 cut in their total bills, according to Manila Electric Co. (Meralco).

DMCI Holdings income down 69% on low market prices

DMCI HOLDINGS, INC. reported a 69% decline in total net income to P2 billion in the first semester as it was “severely” affected by low market prices.

Meralco seeks delay of 1,800-MW power

MANILA ELECTRIC CO. (Meralco) requested to defer the conduct of a competitive selection process (CSP) to procure 1,800 megawatts (MW) of power supply. Last week,...

Vivant’s first-half net earnings down as power sales decline

VIVANT CORP. saw a 35% drop in after-tax net income to P814.4 million as the company’s subsidiaries recorded reduced power in the first semester.

Semirara Mining and Power posts 61% profit fall

SEMIRARA Mining and Power Corp. reported a 61% drop in after-tax income to P2.2 billion in the first semester as quarantine policies enforced since March pulled down coal demand and electricity sales.

Green energy auction seen starting next year

THE Department of Energy (DoE) hopes to hold the Philippines’ first renewable energy auction next year once the volume which all power utilities intend to procure is determined.

DoE urges power conservation to save money during recession

THE Department of Energy (DoE) said electricity consumers need to be “mindful” of their power consumption during tough economic times, and reminded them of the need to save money.

Metro Manila health workers to get free motorcycle rides during MECQ

Angkas will deploy 1,000 motorcycle riders to 10 hospitals in Metro Manila as it teamed up with the government to provide medical workers with...

DoE targets national position on nuclear energy by year’s end

THE DEPARTMENT of Energy (DoE) hopes the government can soon adopt a position on including nuclear power in the generation mix. Executive Order No....

PLDT, Globe seen to hike 2021 investments amid looming competition

By Adam J. Ang The Philippines' telecommunications giants are likely to raise their investments next year as they face regulatory pressure and looming competition, according...

PXP Energy raises stake in Canada-based unit

MANUEL V PANGILINAN-LED PXP Energy Corp. has increased its stock ownership in its gas and oil exploration unit based in Canada that is exploring...

DoE sets energy-saving threshold at 15% to qualify for tax breaks

THE Department of Energy (DoE) said it is preparing guidelines for granting fiscal incentives for energy efficiency and conservation (EEC) projects, setting 15% in...

Rural utilities told to use locally available resources to power remote...

THE National Electrification Administration (NEA) said off-grid power providers must use locally-available resources when possible to ensure affordable and reliable electricity. The agency, which is...

Regional Updates (08/06/20)

Gov’t launches centralized COVID-19 referral station for Metro Manila A CENTRALIZED referral station for coronavirus disease 2019 (COVID-19) patients was launched Thursday to improve the...

Philodrill’s losses widen on crude price crash

THE Philodrill Corp. recorded P44.3 million in after-tax loss in the first semester as its revenues from petroleum plunged on the collapse of crude prices and drying production. 

Regional Updates (08/05/20)

Power utilities warned against billing woes during strict lockdown POWER DISTRIBUTION utilities were warned against issuing bills that may spur another shock from customers in...

Regional Updates (08/04/20)

Medical community offers to help DoH with contact tracing, telemedicine THE MEDICAL community has offered to help the Department of Health (DoH) in improving the...

Petron sheds P14 billion in first semester

PETRON CORP. posted P14.2 billion in total net loss in the first six months of 2020 as the coronavirus pandemic brought down the demand for fuel products, leading to poor refining margins and collapse in prices.

Lack of data, territorial dispute hampering resource exploration efforts — PNOC-EC

A STUDY of the country’s sedimentary basins is needed to spur exploration as current resources like Malampaya become depleted, according to the Philippine National Oil Company-Exploration Corp. (PNOC-EC).

NGCP calls for more power plants in Zamboanga

THE National Grid Corp. of the Philippines (NGCP) said more power plants are needed on the Zamboanga Peninsula while calling for the resolution of transmission line access issues in the area which are causing unstable supply there.

Aboitiz hydro firm settles property tax issue

A COURT approved the deal signed between a hydropower unit of Aboitiz Power Corp. and an Ilocos Sur town seeking a compromise over a property tax issue.

Flexible work schemes allow firms to rationalize offices

THE IMPLEMENTATION of flexible working arrangements compelled companies to rationalize their office space requirements by looking at areas outside business districts, according to Colliers International Philippines.

Phoenix to sell P3.5-B debt papers

PHOENIX Petroleum Philippines, Inc. is set to offer up to P3.5 billion of commercial papers under a new debt financing program.

PXP suffers P44-M loss on drying oil revenue

MANUEL V PANGILINAN-LED PXP Energy Corp. suffered a P44.4-million attributable net loss in the first semester as it also recorded losses in oil earnings and impairment of the Galoc oil field in Palawan.

Meralco: Refund requests ‘low’

THERE have not been many customers who asked for refund of their quarantine arrears, according to Manila Electric Co. (Meralco).

DoE studying small nuclear plants for remote areas

THE Department of Energy (DoE) is studying the use of small nuclear generators to power off-grid areas, Energy Secretary Alfonso G. Cusi said in a statement.

MGen moves target date for Bulacan solar farm 

MERALCO Powergen Corp. (MGen) is still expecting to launch its solar farm in Bulacan within the year despite a delay in construction due to the quarantine restrictions.

Aboitiz power provider goes digital

A UNIT of Aboitiz Power Corp. has brought online its first digital substation in Davao City.

Renewables industry touts ‘untapped’ potential, superior safety vs nuclear

THE renewables industry said its potential for providing energy is “untapped” while its safety record is superior to that of nuclear energy, which the government is considering adding to the power generation mix.

First Gen expects to start building import terminal for LNG in...

LOPEZ-LED First Gen Corp. is expecting to start building its liquefied natural gas (LNG) terminal project in Batangas in the second half of the year.

Ayala affiliate raises stake in Australia’s Infigen

AN AFFILIATE company of Ayala Corp.’s energy arm now owns a material interest in an Australian power firm, which it initially aims to fully take over.

DoE to expedite national renewables plan update

THE Department of Energy (DoE) said it is working to complete the “long-overdue” update to the national renewable energy plan (NREP).

Ayalas allot P2B for renewables

AYALA-LED AC Energy Philippines, Inc. (ACEPH) will be investing P2.2 billion to its two renewable energy units in part of its earlier commitment to boost investment in new energy technologies.

Pandemic hits Aboitiz group’s first-half profit

ABOITIZ Equity Ventures, Inc.’s (AEV) net income in the first semester plunged by more than half as the global coronavirus pandemic continues to batter its businesses.

PSALM’s Malaya plant gets lone bid from former operator Soosan

THE former operator of the Rizal diesel-fired power plant owned by the state-led Power Sector Assets and Liabilities Management Corp. (PSALM) is the lone bidder for the generator’s service contract.

NEA cuts 2020 electrification target to 635 sitios

THE National Electrification Administration (NEA) has reduced its target for rural villages it plans to deliver power to this year to 635 sitios after the loss of funding that was diverted to the pandemic containment effort.

Clean-energy bloc faults SONA for failing to address coal reduction, quarantine...

SUPPORTERS of clean energy said the fifth State of the Nation Address (SONA) was delivered by President Rodrigo R. Duterte Monday failed to renew a previous commitment to pursue more green energy alternatives.

Pryce net income declines on LPG, crude price slump

PRYCE CORP. saw its after-tax income dropped in the first semester, pulled down by inventory losses from the slump in the prices of crude and liquefied petroleum gas (LPG) in the second quarter caused by the global coronavirus pandemic.

Alsons considers sale of property business

ALSONS Consolidated Resources, Inc. (ACR) is considering the sale of its property business as part of its transition into a pure energy company.

Renewables industry pushes for ‘green’ stimulus programs

SUPPORTERS of green energy are urging the government to highlight renewables in its economic recovery plan, saying that such a measure will make the economy more resilient while generating jobs.

PSE index faring better, may not retest past lows — COL...

By Adam J. Ang The benchmark Philippine Stock Exchange index (PSEi) is not expected to retest previous lows given the "better" financial conditions under an...

Del Monte’s earnings sink with sale, closure of US plants

Del Monte Pacific Ltd. (DMPL) shed $81.4 million in its fiscal year 2020 due to the closures and sale of its production plants in...