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OIL COMPANIES are raising the prices of petroleum products this week, with gasoline prices increasing by P1.45 per liter (/L), one of the biggest price hikes in recent months.
THE National Water Resources Board (NWRB), the state agency tasked to oversee the country’s water resources, has approved the activation of deep wells that will add 100 million liters per day (MLD) to ease the shortage being felt by consumers in Metro Manila’s east zone.
THE DEPARTMENT of Energy (DoE) has issued a draft circular to regulate the duty-free importation of renewable energy (RE) machinery, equipment, materials and spare parts in line with the government’s drive to promote ease doing business in the country.
THE Securities and Exchange Commission (SEC) has released on Friday draft guidelines listing documentary requirements for putting up a one-person corporation (OPC) and providing how ordinary stock corporations can be converted into OPCs.
THE Metropolitan Waterworks and Sewerage System (MWSS) has not yet submitted complete documentation for its Environmental Compliance Certificate (ECC) application covering the proposed Kaliwa Dam, which means the project cannot move forward, the environment department said.
DOUBLEDRAGON Properties Corp. said on Friday that its hotel subsidiary has obtained a pre-selling license for a project in Ecoland, Matina, Davao City.
MANILA WATER Co., Inc. has formed a technical working group to look into the viability of partnering with port and casino magnate Enrique K. Razon, Jr. on the Wawa dam project to augment the water source of Metro Manila’s east zone concessionaire.
EASTERN Petroleum Corp. targets to corner a 5% share of the market for liquefied petroleum gas (LPG) in the next three years as it plans to put up more company-owned outlets that will focus on densely populated markets.
STATE AGENCY Metropolitan Waterworks and Sewerage System (MWSS) is asking Metro Manila’s two water concessionaire to build a P3.2-billion tunnel that will convey water from Angat dam at times when the capital’s sole water source has excess capacity.
FIRST GEN Corp. posted a 65% increase in its 2018 net income attributable to the company’s equity holders to $221 million (P11.6 billion), with the added boost from its new gas-fired power plant plus other factors such as lower interest expense, the Lopez-led company told the stock exchange on Wednesday.
MANILA WATER Co., Inc. is counting on a new water source in Cardona, Rizal plus stop-gap measures such as deep wells and a cross-border flow agreement with the other water concessionaire to help ease the water shortage being felt within its east zone concession.
AFTER ITS overseas foray, Filipino firm Atlantic Gulf and Pacific Co. (AG&P) is once again looking at the Philippines as an attractive site to provide its services as it plans to take part in local industrial projects with its skilled workers from its plants in Batangas.
CLARK WATER Corp. has signed a term-loan agreement amounting to P535 million with the Development Bank of the Philippines (DBP), according to parent company Manila Water Co., Inc.
A CONSUMER group has called on the electricity spot market to ensure transparency of prices in order to avoid collusion among power generation companies during times when the grid system operator declares “yellow” or “red” alerts.
PHOENIX PETROLEUM Philippines, Inc. and the state firms of China and the Philippines are set to launch by May 13 the liquefied natural gas (LNG) hub project that they plan to jointly develop to serve the requirements of the country, government officials said.
THE PHILIPPINES can expect partnerships and trade opportunities in Malaysia, while private companies can develop greater exposure to each other’s home countries, Trade Secretary Ramon M. Lopez said.
ENERGY SECRETARY Alfonso G. Cusi on Thursday said he signed a notice to proceed (NTP) for the proposal of First Gen Corp. to build a liquefied natural gas (LNG) import terminal within its power plant complex in Batangas province.
FILIPINO FIRM Atlantic Gulf and Pacific Co. (AG&P) said on Wednesday that it had emerged as the dominant player in south India’s liquefied natural gas (LNG) business after it secured nine licenses in the 10th round of auction of city gas distribution concessions by the regulatory board.
SOLAR Philippines Tarlac Corp. has secured the regulator’s approval to raise by 2% annually the P2.999 per kilowatt-hour (kWh) electricity rate it signed with distribution utility Manila Electric Co. (Meralco).
THE Department of Energy (DoE) has reduced to eight from 17 the number of electric cooperatives that are “ailing” and have failed to provide the required services, leaving them open to a possible takeover by private entities.
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).
MANILA ELECTRIC Co. (Meralco) on Monday said the assets and operations of the Electricity Company of Ghana (ECG) had been handed over to the consortium participated in by the distribution utility.
A PANEL at the Department of Energy (DoE) is scheduled to review this week the application of Lopez-led First Gen Corp. to build a liquefied natural gas (LNG) import terminal before the project proposal is submitted to the secretary for final approval.
PHILIPPINE MANUFACTURERS in February registered their weakest improvement in operating conditions in six months after the softest rise in new orders in seven, according the latest survey compiled by IHS Markit for Nikkei, Inc.
THE Metropolitan Waterworks and Sewerage System (MWSS), which regulates the water industry, said it will audit the financial performance of the country’s two biggest water concessionaires in June and will subsequently repeat the exercise yearly.
MANILA ELECTRIC Co. (Meralco) is studying the viability of putting up microgrid systems in popular tourist destinations outside its franchise area and replicate the hybrid energy system it is installing on Cagbalete Island in Quezon province.
PHOENIX Petroleum Philippines, Inc. has tapped foreign financial institutions to arrange a series of fixed income investor meetings in Manila, Hong Kong and Singapore, possibly resulting in the issuance of dollar-denominated debt instruments.
PXP ENERGY Corp. has again reached out to China National Offshore Oil Corp. (CNOOC) for the resumption of talks about jointly exploring petroleum in the contested seas but was met, so far, with silence, the local company’s chairman said.
MANILA Electric Co. (Meralco) posted a core net income of P5.72 billion in the fourth quarter of 2018, higher by 18.2% compared with the P4.84 billion a year earlier largely because of the higher power consumption during the last three months of 2018.
MANILA WATER Co., Inc. posted a 6% increase in net income for 2018 to P6.5 billion after the steady performance of its water concession in Metro Manila and the boost it received after the approval of its positive tariff adjustment and business plan, the Ayala-led company said.
PHOENIX Petroleum Philippines, Inc. reported an 82% increase in net income in 2018 to P2.77 billion in what it called a banner year after generating record revenues and profit.
THE Department of Energy (DoE) has set a Thursday deadline for comment on a draft circular that will set the guidelines on how electric cooperatives will be compensated in cases when their distribution or sub-transmission lines are to be relocated to give way to government construction projects.