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Phinma Energy’s losses swell in 2nd quarter

PHINMA Energy Corp. reported a P406.60 million in net loss attributable to its equity holders in the second quarter, more than four times bigger than the P91.57-million loss recorded in the same period last year, as revenues failed to keep up with the increase in cost and expenses.

Basic takes over Phinma Energy stake in Batangas geothermal service contract

BASIC Energy Corp. said Friday that Phinma Energy Corp. has assigned to it “its entire and undivided” 25% stake in a geothermal service contract in Batangas province.

Phinma Energy, PPGI name new directors

PHINMA Energy Corp. and its unit Phinma Petroleum and Geothermal, Inc. (PPGI) have named new directors to take over the seats vacated by their previous owners in line with the takeover by Ayala-led AC Energy, Inc. of the listed energy companies.

Phinma Energy hikes stake in unit ahead of AC Energy takeover

PHINMA Energy Corp. has signed on Thursday an agreement to acquire the stake of two affiliate firms in the former’s subsidiary Phinma Petroleum and Geothermal, Inc. (PPG), the listed companies told the stock exchange yesterday.

Phinma Energy unit gives up interest in exploration block

PHINMA Energy Corp. said its listed petroleum and geothermal exploration subsidiary had relinquished its participating interest in Service Contract (SC) 6 Block B, a move that was previously approved by the Department of Energy (DoE).

Ayala acquires Phinma Energy

AC ENERGY, Inc. is taking control of Phinma Energy Corp. through a “mutually strategic agreement” that gives the Ayala-led company a 51.48% stake in the listed energy firm for P3.42 billion.

Phinma Energy sells 50% stake in solar subsidiary

PHINMA Energy Corp. has sold half of its stake in a solar roofing subsidiary to an affiliate in part to boost the unit’s capital base, while taking in a strategic partner with a complementary business.

Phinma Energy swings to net loss in April-June

PHINMA Energy Corp. on Wednesday reported a net loss attributable to equity holders of the parent firm of P91.57 million in the second quarter, reversing last year’s income of P221.87 million in the same quarter last year as revenues slipped while cost and expenses rose.

Phinma Energy 2017 net income falls 75%

Phinma Energy Corp. recorded a 75% fall in consolidated net income to P347 million last year from P472 million a year earlier, when its...