JORDEENE SHEEX LAGARE

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DENNIS Uy-led Phoenix Petroleum Philippines, Inc. will prioritize the housecleaning of recently acquired Japanese convenience store chain FamilyMart before embarking on an expansion program for the brand. “Right now, we are focusing on putting the basics in place,” Phoenix Petroleum Vice President for External Affairs Business Development and Security Raymond…

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LISTED Oriental Petroleum and Minerals Corp. (OPMC) is looking to invest in various businesses within the Philippine energy sector such as power generation. OPMC told the local bourse on Tuesday that its stockholders had approved the amendment of its secondary business purpose, allowing it to invest or engage in the business of…

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A lawmaker wants to amend rules on using power generation companies’ (gencos) installed capacity to compute their market share limitations, which the Energy Regulatory Commission (ERC) sets annually. In an interview, Sen. Sherwin Gatchalian said he wanted to know ERC’s reasoning to use installed capacity, instead of actual capacity. “That’s…

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Oil companies will implement a hefty increase in the pump prices of petroleum products Tuesday. Eastern Petroleum, Flying V, Phoenix Petroleum, Pilipinas Shell, PTT Philippines, and Seaoil will increase the price of diesel and gasoline by P1.10 per liter and P1.15 per liter, respectively, starting at 6 a.m. Meanwhile, Flying…

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The Senate and the House of Representatives have ratified the final reconciled version of a bill seeking to provide electric cooperatives (ECs) with a P750-million emergency and resiliency fund. Both chambers straightened out differing provisions of Senate Bill 1461 and House Bill 7054 under the proposed Electric Cooperatives Emergency and…

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LISTED Phoenix Petroleum Philippines, Inc. expects to begin commercial operations of its asphalt business by next year, a senior official told reporters. “Operations will go in full swing as soon as facility is up but we may start some small transactions this year depending on how we can bring it…

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LISTED Basic Energy Corp. has invested in two Thai companies responsible for a 220-megawatt (MW) solar power plant project in Myanmar as it bids to become a major renewable energy firm. Basic Energy said on Friday that its board had confirmed equity investments of up to 15 percent of the…

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The National Grid Corp. of the Philippines (NGCP) and the Department of Public Works and Highways (DPWH) have signed an agreement to coordinate their projects and quicken implementation. The memorandum of understanding (MoU) signed by NGCP acting chief Anthony Almeda and Public Works Secretary Mark Villar allows them to explore…

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Phoenix Petroleum Philippines Inc. has listed at the Philippine Dealing and Exchange Corp. (PDEx) P1.375-billion worth of fixed-rate bonds with a tenor of 1.5 years. At a listing ceremony on Friday, Phoenix Petroleum CFO Joseph John Ong said the Dennis Uy-led firm’s short-term notes, to mature by September 2019, “will…

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