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Ups and downs in the oil industry

In the Philippines, there remains solid demand for a variety of petroleum products that are still largely imported. According to the Department of Energy (DoE),...

IPPCA opposes increase in diesel biofuel component

THE Independent Philippine Petroleum Companies Association (IPPCA) opposed the plan of the Philippine Coconut Authority (PCA) to increase the biofuel component in diesel to B5 from B2.

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...

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...

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....

PCA highlights economic gains in hiking coconut content in biodiesel

The Philippine Coconut Authority (PCA) and the Department of Agriculture (DA) will be vouching for the increase of coconut methyl ester (CME) content in...

Pilipinas Shell reports higher profit in first half

Pilipinas Shell Petroleum Corp. said on Monday, Aug. 13, that it recorded a 30% increase in its first-half net income, which it attributed in...

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 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...

Petron says fuel supply steady despite row with PNOC

Petron Corp. said on Thursday, Aug. 2, that the supply of its petroleum products has remained "steady" all over the country despite its legal...

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...

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...

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 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...

Qatar says will not ‘fuel a war’ against Iran

Singapore -- Qatar will not be dragged into any conflict with Iran, a senior Qatari official said Sunday. Defense minister Khalid bin Mohammad al-Attiyah told...

DOE: First shipment of imported oil from non-OPEC sources to arrive...

The Department of Energy (DoE) targets to receive in June the first shipment of oil from non-members of the Organization of the Petroleum Exporting...

US oil poised for weekly loss as record output weighs on...

Oil in New York headed for a second weekly loss as U.S. output surged, pushing the American marker to near its weakest level in...

Oil drops after Saudi-Russia output revival plan rattles traders

Oil in New York headed for its longest run of losses since February after Saudi Arabia and Russia proposed raising production later this year. Futures...

Asia energy firms dive with oil, Trump-Kim hopes provide optimism

Hong Kong, China -- Energy firms plunged with oil prices in Asia Monday after Saudi Arabia and Russia signaled they could lift output, while...

DoE to call for fuel tax suspension when average oil prices...

The tax reform law has a mechanism that calls for the Energy department to prompt the suspension of another increase in taxes imposed on...

Oil rises as Venezuela sanctions stoke crude supply risk concern

Oil extended gains as a new wave of U.S. sanctions on Venezuela stoked concerns over its crude production and as analysts forecast further declines...

Oil gains near $72 as world’s top economies reach trade truce

Oil advanced near $72 a barrel as an economic truce between the U.S. and China eased fears of a trade war, and before a...

Saudi, UAE oil ministers voice ‘concerns’ over price swings

Riyadh, Saudi Arabia -- The Saudi and Emirati energy ministers voiced concerns on Thursday over oil price fluctuations, saying they were determined to maintain...

Petron allots P15 billion for 2018 capex

Petron Corp. is setting aside this year a capital expenditure of P15 billion to cover its network expansion and refinery improvement, company officials said...

Oil prices extend rally

London, United Kingdom -- Oil prices rallied further Thursday, reaching fresh 3.5-year highs, as US President Donald Trump's decision to tear up the Iran...

PXP Energy trims net loss in Q1

PXP Energy Corp. has trimmed its net loss to P3.7 million in the first quarter, in part because of the higher petroleum revenues and...