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Refueling the oil industry through tech

Like many other industries, the oil industry is undergoing a digital shift. Oil companies are now seeing the profound impact of technology in improving...

Playing a powerful role

“Quality, reliable, secure, and affordable power throughout the entire archipelago will be the backbone of a vibrant and robust Philippine economy,” wrote Department of...

DoE monitoring oil firms’ compliance with excise tax implementation

THE Department of Energy (DoE) is monitoring oil firms to ensure the second round of excise taxes for petroleum slated for 2019 will only be imposed on new inventory.

Fuel prices drop for 8th straight week

OIL COMPANIES have cut the prices of petroleum products as early as the weekend, with Petron Corp. among the last to send its advisory of a rollback of P2.00 per liter (/L) for gasoline, P2.10/L for diesel and P2.00/L for kerosene.

From the Front Page: FDI down, interest rates raised anew

Your weekly recap of BusinessWorld news.

Brent stalls below $78 as Iran loss seen offset by higher...

Oil struggled to gain above $78 a barrel as the prospect of shrinking Iranian crude exports was countered by signs of higher output from...

Higher fuel prices expected tomorrow

Oil companies will implement a hefty price increase for all petroleum products this week, with diesel registering the biggest hike at P1.20 per liter. It...

LTFRB wants more oil firms to participate in fuel subsidy program

Land Transportation Franchising and Regulatory Board (LTFRB) Chairman Martin B. Delgra on Wednesday, Aug. 29, urged fuel companies in the country to participate in...

Oil holds gains as US rigs decline at fastest pace since...

Oil held gains above $68 a barrel on slowing American drilling and investor optimism after a breakthrough in a trade standoff between the U.S....

Oil bounces after longest losing run since 2015 on supply risks

The prospect of tighter supplies from the U.S. to the North Sea and Iran is helping oil recover this week from the longest losing...

PNOC-EC seeks suppliers of Euro 4 gas oil, diesel

PNOC Exploration Corp. (PNOC-EC) plans to buy Euro 4 gas oil or diesel fuel from any point of origin of the seller in a...

Group of oil firms appeals to DoE on Euro 2 revival

Independent Philippine Petroleum Companies Association (IPPCA) has asked the Department of Energy (DoE) to consider other means in helping rein in inflation instead of...

Oil’s on its longest losing run since 2015 on turmoil and...

Oil headed for the longest run of weekly declines in three years, dragged down by everything from an emerging-market rout to rising global supplies...

Oil trades near $65 as inventory gain counters trade optimism

Oil traded near $65 a barrel as investors weighed a surprise gain in American crude inventories against optimism over trade talks between the U.S....

To address inflation, DoE issues order that will bring back Euro...

The Department of Energy (DoE) has issued a directive to oil companies to start selling Euro 2 diesel even ahead of the Environment department's...

Oil set for sixth weekly loss as trade war stokes demand...

A bruising week for oil has set prices on course for the longest weekly losing streak in three years as a trade war between...

Oil holds loss near 7-week low as US-China trade war escalates

Oil held losses near a seven-week low as China vowed to retaliate against the U.S. administration’s latest tariffs, raising trade tensions between the world’s...

Oil’s near $69 as trade conflict counters latest supply risks

Oil held gains near $69 a barrel as falling American stockpiles added to speculation of tightening supplies, offsetting concerns over escalating trade tensions between...

Oil drifts near $69 as trade spat counters signs of lower...

Oil traded below $69 a barrel as investors weighed the prospect of shrinking global demand due to a trade spat between the world’s two...

Oil firms to lower fuel prices tomorrow

Oil companies are rolling back the cost of petroleum products this week, although at a rate lower than the price increases in recent weeks. Gasoline...

China rejects US request to cut Iran oil imports

The US has been unable to persuade China to cut Iranian oil imports, according to two officials familiar with the negotiations, dealing a blow...

Oil trades near $68 as inventory and OPEC output weigh on...

Oil traded near $68 a barrel after sliding for two consecutive sessions as rising US inventories and higher output from OPEC and Russia weighed...

Oil drops on inventories gain with Trump trade war back in...

Oil extended losses below $69 a barrel after a surprise gain in American crude inventories spooked investors who are already contending with the rising...

Oil rises most in a month amid heightened worldwide supply risks

Crude jumped the most in more than a month as concern that a key Canadian facility won’t return to full production as quickly as...

Fuel prices to rise tomorrow

After last week's brief respite, consumers are faced this week with another hefty oil price increase, with gasoline prices posting the biggest increase at...

What to watch in commodities: Iran, big oil, miners, gold, crops

It’s getting ugly out there. Commodities are getting shaken up as investors fret about the fall-out from the global trade war, and as the...

Oil firms to cut fuel prices tomorrow

Oil companies are rolling back the prices of petroleum products this week, with kerosene having the biggest price cut at P1.25 per liter. Diesel prices...

Oil holds gain near $70 as Saudis vow not to oversupply...

Oil held gains near $70 a barrel after Saudi Arabia signaled it won’t export oil beyond its customers’ needs, dispelling fears that it may...

Oil trades below $69 as investors weigh mixed inventories report

Oil traded below $69 a barrel as investors tried to gauge demand growth in the world’s biggest economy following conflicting data on US stockpiles. Futures...

Oil halts slide as possible stockpile drop counters supply boost

Oil arrested losses near the lowest level in more than three weeks as investors weighed the prospect of shrinking U.S. inventories against more supply...

Oil firms to raise gasoline prices tomorrow

For the third straight week this month, oil companies will be raising the price of gasoline but at a lower rate of increase compared...

Oil falls as Saudis are said to offer extra crude to...

Oil retreated below $71 a barrel as Saudi Arabia was said to offer extra crude supplies to some customers following a plan to boost...

US stocks decline as oil tumbles, dollar rallies

US stocks fell as crude plunged the most in two years and the dollar spiked higher amid renewed tensions over trade and geopolitics. The S&P...

Oil falls as trade war escalates, Libya plans to resume supply

Oil fell below $74 a barrel after US President Donald Trump escalated a trade war with China, heightening fears that global economic growth could...

Pump prices going up again

Consumers will have to bear another increase in pump prices this week, although milder the price adjustments in the previous week. Gasoline prices will rise...

There are fears about an oil spike above $150

Oil investors may regret urging companies to cough up cash now instead of investing in growth for later as the dearth of exploration is...

Trump ups pressure on OPEC to boost supply as oil holds...

Oil held near three-year highs on U.S. Independence Day as tight supplies at home and abroad overshadow a Saudi pledge to boost output. President...

Fuel prices to increase tomorrow, July 3

The prices of gasoline, diesel and kerosene will all increase this week to follow the movement of prices in the international market, oil companies...

Oil set for weekly surge as Saudis fail to allay supply...

Oil surged this week by the most in two months as Saudi Arabia’s assurance of increased output failed to assuage concerns that disruptions from...

Why is Unioil Philippines building more e-vehicle charging stations in Metro...

UNIOIL Petroleum Philippines, Inc. has launched on Wednesday its second electric vehicle charging station at its outlet along the northbound side of EDSA in...

Oil trades near three-year high as Libya crisis tightens supply

US crude traded near the highest in 3 1/2 years as disruption at Libyan ports and a plunge in American stockpiles reinforced fears of...

Oil holds near $75 as Libyan port dispute adds to supply...

Brent crude traded near $75 a barrel as key Libyan oil ports were handed to a company rivaling the nation’s internationally recognized energy producer. The...

Oil firms to lower fuel prices tomorrow, June 26

Oil companies will roll back the prices of petroleum products this week, with gasoline having the biggest cut at P1.15 per liter. Diesel will be...

US sanctions on Iran crude stir up a corner of the...

EFFECTS of the U.S. decision to renew sanctions on OPEC member Iran are already spreading beyond the world of crude to some corners of the oil market.

Oil declines as traders assess Trump tariffs and Libya outage

Oil fell to near $65 a barrel as traders assessed escalating tensions between the world’s two biggest economies as well as an upcoming OPEC...