JORDEENE SHEEX LAGARE

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PHOENIX Petroleum Philippines, Inc. announced that it had struck a deal to sell bitumen and bitumen-related products in the Philippines as part of a bid to expand its portfolio. In a disclosure to the local bourse, Dennis Uy-led Phoenix Petroleum said on Tuesday that its board had approved the execution…

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The Energy Regulatory Commission (ERC) on Tuesday warned that the country could be hit by massive blackouts because the regulatory body needs commissioners to act on rate petitions that may hinder power distribution utilities from selling electricity, the agency’s chairman and chief executive officer Agnes Devanadera said Tuesday. During the…

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THE Securities and Exchange Commission (SEC) has exempted privately-held investment firm Menlo Capital Corp. (MCC) from the mandatory tender offer rule covering the 4.4 billion shares issued by power company MRC Allied, Inc. MRC Allied told the bourse on Monday that it received a copy of a January 12 letter…

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A unit of Pure Energy Holdings Corp. has acquired a majority stake in three solar farms in Central Luzon, enabling the company to diversify into solar energy and ramp up its portfolio. Pure Energy said on Monday that its subsidiary, Just Solar Corp., signed a share purchase agreement with Solar…

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Oil companies increased their pump prices for the third time this month as consumers brace for the imposition of new excise tax rates on petroleum products. Flying V was the first to adjust its prices, raising the cost of diesel and kerosene by 55 centavos per liter and gasoline by…

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The Department of Energy (DoE) is determined to put a closure to the issue involving the Bataan Nuclear Power Plant (BNPP) after experts from Russia and Slovenia recommended the revival of the mothballed plant. Korean experts gave the same recommendation. “I have to find a closure to this project because…

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THE Department of Energy (DoE) is set to extend the feed-in tariff (FiT) allocation to complete the construction of stalled biomass and run-of-river hydropower projects. Before signing the circular on the extension of the FiT scheme, Energy Secretary Alfonso Cusi said the department needed to reconcile the remaining capacity to…

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THE Department of Energy (DoE) has asked Manila Electric Co. (Meralco) to explain the rationale for projecting that electricity rates could rise by 8 centavos per kilowatt hour (kWh) as early as February. In an interview on Friday, Energy Secretary Alfonso Cusi said his department sent Meralco a letter asking…

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PETRON Corp., the largest oil refining and marketing company in the Philippines, is seeking to raise $500 million from the sale of undated unsubordinated capital securities. In a disclosure to the Philippine Stock Exchange (PSE) on Friday, Petron said it had set an issue size of $500 million for the…

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The Department of Energy (DoE) turned over on Friday 200 electric tricycles (e-trikes) to Marawi City to aid government efforts in the city’s recovery. Energy Secretary Alfonso Cusi and Secretary Eduardo del Rosario, Task Force Bangon Marawi (TFBM) chairman and Housing and Urban Development Coordinating Council (HUDCC) head, signed a memorandum of…

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