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Groups set to check Wawa dam viability

THE AYALA and the Razon groups are set to sign within the week an initial agreement to look into the viability of jointly developing the Wawa dam in Rizal as part of Manila Water Company, Inc.’s new water sources.

Gasoline up by P1.45/L, other fuel prices also higher this week

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.

Deep wells tapped to add 100 MLD for Metro Manila

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.

Energy dep’t issues draft rules for duty-free importation of renewable energy...

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.

SEC sets rules for forming one-person corporations

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.

DENR says documents lacking for Kaliwa Dam ECC application

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 issued pre-selling license for Davao hotel

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 mulls Razon tie-up on Wawa dam

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 plans to add 50 company-owned outlets

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.

Water firms urged to build new tunnel from Angat

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.

Lopez-led First Gen’s attributable income rises to $221 million in 2018

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 eyes new source in Cardona to augment supply

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.

Petron profit plunges

PETRON CORP. on Tuesday reported a 50% fall in its net income in 2018 to P7.1 billion after a “sustained decline” in world crude prices that resulted in inventory losses of P10 billion in November and December last year.

AG&P now focusing on Philippine expansion

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 signs P535-million loan agreement with DBP

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.

Maynilad ready for dry spell amid mild El Niño

MAYNILAD Water Services, Inc. has downplayed the impact of El Niño on the water it supplies to Metro Manila’s west zone, saying the previous dry spell early in this decade left the company prepared for a similar incident.

Consumer group calls for price transparency during power alerts

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.

Gasoline up by P0.90/L this week

OIL COMPANIES are raising the prices of gasoline products this week by P0.90 per liter (/L), while keeping unchanged those of diesel and kerosene.

LNG hub project to be launched in mid-May — DoE

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.

Electricity bills higher this month — Meralco

DISTRIBUTION utility Manila Electric Co. (Meralco) announced on Thursday a slight increase in the overall electricity rates for March to P10.4961 per kilowatt-hour (/kWh), up by P0.0894/kWh from the P10.4067/kWh in February.

DTI touts opportunities for trade, business partnerships in Malaysia

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.

First Gen’s Batangas LNG terminal project cleared by DoE

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.

Oil import bill jumps nearly 32% in 2018

THE COST of oil imports in 2018 hit $13.48 billion, up 31.8%, due to the combined effects of higher fuel prices and increased import volumes, the Department of Energy (DoE) said on Thursday.

Philippines’ AG&P dominates LNG business in south India

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 secures ERC go signal to raise rates by 2%...

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).

Manila Water prepares contingency plan

MANILA WATER Co., Inc. said on Wednesday that it had put in place starting this month a water supply contingency plan in light of the ongoing mild El Niño that is causing below-normal rainfall.

MRC Allied starts work on mall’s solar rooftop

MRC ALLIED, Inc. has broken ground on a 1.1 megawatt (MW) solar photovoltaic rooftop project in one of the malls in Mindanao through its subsidiary Menlo Renewable Energy Corp. (MREN), the listed company said on Tuesday.

Energy dep’t identifies 8 ‘ailing’ electric cooperatives; Philreca criticizes Cusi

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 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).

NGCP declares ‘yellow alert’ for Luzon power grid

RESERVE ENERGY in the Luzon grid fell below minimum levels on Tuesday, prompting the system operator to issue a “yellow alert” a day after the Energy department gave its assurance that power supply is sufficient for the dry season.

Energy dep’t downplays El Niño’s possible impact

THE DEPARTMENT of Energy (DoE) has dismissed fears of a possible adverse impact of a “weak” El Niño on the country’s power supply next quarter as it pointed to measures that are in place and the entry of new energy capacity this semester.

Meralco-led consortium takes over Ghana power distribution utility

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.

DoE panel reviews First Gen’s LNG import terminal

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.

Gasoline up, diesel and kerosene down

OIL COMPANIES will be raising the prices of gasoline products by P0.10 per liter (/L) this week while cutting diesel prices by the same amount.

PHL slips to 5th in Women in Business survey

A NEW SURVEY showed 37% of senior management positions at Philippine companies are occupied by women, well above the global average of 29%.

Philippine factory business improvement weakest in six months

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.

MWSS orders annual audits of Manila Water, Maynilad

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.

Meralco in talks with ALI to put up microgrids in resort...

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 prepares dollar bond issue, opens 1st Autoworx shop

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.

Metro Pacific keen on Medical City

THE chairman of Metro Pacific Investments Corp. (MPIC) is looking at hospitals in Mindanao for possible acquisitions, while awaiting the resolution of the ownership dispute within The Medical City, a hospital he is keen to acquire.

MVP says CNOOC snubs PXP Energy offer to resume talks

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.

Meralco core income jumps 18% in 4th quarter

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 income up 6% in 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.

Dennis Uy’s Phoenix Petroleum nets P2.8 billion in 2018 as revenues...

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.

DoE solicits comment for draft rules on right-of-way relocation

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.