Petron H1 net income down 72% as higher taxes weigh on sales
PETRON Corp.’s net income for the first six months of the year plunged 72 percent to P2.6 billion mainly due to higher taxes that weighed heavily on the oil company’s sales.
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PETRON Corp.’s net income for the first six months of the year plunged 72 percent to P2.6 billion mainly due to higher taxes that weighed heavily on the oil company’s sales.
Five million households across the country still do not have access to electricity, Energy secretary Alfonso Cusi said Tuesday.
THE Mandaluyong Regional Trial Court on Monday issued a preliminary injunction against the Department of Energy (DOE), stopping it from implementing a policy that requires oil firms to unbundle their fuel prices.
THE Energy Regulatory Commission (ERC) and the Philippine Competition Commission (PCC) signed Monday a memorandum of agreement (MOA) that allows both agencies to jointly conduct investigations related to competition matters in the power industry.
THE Manila Electric Co. (Meralco) is expected to spend in the second half of the year P4 billion out of the P12-billion capital expenditure (capex) set aside for its network this year.
SOLAR Para Sa Bayan Corp. (SPSB) is encouraging interested firms to also pursue their intention to apply for a solar microgrid franchise.
THE National Grid Corp. of the Philippines (NGCP) is seeking the regulator’s approval to pursue Stage 1 of the P6.4-billion Palawan-Mindoro Interconnection Project (PMIP).
A CONSUMER group said it remains cautious on the planned green energy tariff program of the Department of Energy (DOE), which it said should not burden consumers by way of granting subsidy to renewable-energy (RE) developers.
THE Power Sector Assets and Liabilities Management Corp. (PSALM) has moved the deadline for the bidding of its real-estate assets (REA) located in Barangay Aplaya, Jasaan, Misamis Oriental and Toledo City, Cebu.
LISTED upstream oil and gas firm PXP Energy Corp. posted a lower net loss of P17.9 million in the first half of the year from P32.8 million in the same period a year ago.
MORE than 13 million electricity users will be affected by the Supreme Court decision that required all power-supply agreements (PSAs) forged after June 30, 2015, to undergo competitive selection process (CSP).
ABOITIZ Power Corp. (AboitizPower) reported a 5-percent drop in net income at end-June mainly on account of higher volume and cost of purchased power during the six-month period when the grid experienced thin reserves.
THE National Grid Corp. of the Philippines (NGCP) is seeking regulators’ approval to recover P10.646 million in expenditures it incurred after Tropical Depression Josie struck Luzon last year.
THE National Transmission Corp. (Transco) and the Power Sector Assets and Liabilities Management Corp. (PSALM) were not allowed by the Energy Regulatory Commission (ERC) to intervene in the petition for the approval of the IPO (initial public offering) extension filed by the National Grid Corp. of the Philippines (NGCP).
MGEN Renewable Energy Inc. (MGreen), a wholly owned subsidiary of Meralco PowerGen Corp. (MGen), is expected this year to seal deals in renewable energy (RE) that will beef up its portfolio by 350 megawatts (MW).
METRO Pacific Investments Corp. (MPIC) Chairman Manuel V. Pangilinan said the company continues to look for ways to raise funds for its hospital business in case the planned initial public offering (IPO) does not take place anytime soon.
THE Manila Electric Co. (Meralco) has received 22 offers from various power-generation companies (gencos) that are interested to participate in the competitive selection process (CSP) of three power contracts with a total capacity of 2,900 megawatts (MW).
A GROUP of oil companies has expressed its full support to the government’s fuel marking program in a bid to curb smuggling and deter revenue leakages.
THE Manila Electric Co. (Meralco) sees profit this year to reach “at least” P23 billion after the utility firm posted P12 billion in net income from January to June.
OIL companies announced over the weekend that they will slash gasoline prices, but will increase the price of diesel and kerosene on Tuesday.
THE Philippine National Oil Co. (PNOC) and the China Petroleum Pipeline Engineering Co. Ltd. (CPP) will partner to look for opportunities in the LNG (liquefied natural gas) sector.
THE renewable-energy (RE) unit of PetroEnergy Resources Corp. (PERC) is allotting as much as P2.7 billion to expand the solar and wind portfolio of PetroGreen Energy Corp.
The Department of Energy (DOE) has vowed to fast-track the implementation of two key renewable-energy (RE) policies following President Duterte’s remarks that the country needs to develop more RE sources, and reduce dependence on traditional energy sources, such as coal.
THE European Union has allotted €2.2 million, roughly P120 million, to finance the Renewable Energy for Livelihood and Youth (RELY) project of sequa gGmbH, Vivant Foundation Inc. (VFI) and Participatory, Research, Organization of Communities and Education toward Struggle for Self-Reliance (Process) Bohol Inc. The RELY project is one of the seven awardees of the EU-Access to Sustainable Energy Programme Call for Proposals. The EU selected RELY from among 31 proposals.
PRYCE Gases Inc. (PGI), a distributor of liquefied petroleum gas, is set to drill a well in the southwest Palawan Basin.
ENERGY and environmental think tank Center for Energy, Ecology and Development (CEED) has strongly urged the Duterte administration to issue an Executive Order (EO) focusing on the development of more renewable-energy (RE) sources.
THE Manila Electric Co. (Meralco) sees “better” financial results in the first half of the year, mainly on account of improved electricity sales.
THE Manila Electric Co. (Meralco) has switched on its second microgrid project that will benefit more than 800 families in Cagbalete Island, Quezon province.
A microgrid is a small-scale power system able to provide stable power supply to off-grid areas by combining distributed power sources, such as diesel generators, solar power, wind power and storage batteries. It can operate independently from the country’s mainland interconnected network of transmission and distribution lines.
SAN Miguel Corp. (SMC) and Meralco PowerGen Corp. (MGen) are interested to participate in the Manila Electric Co.’s (Meralco) three power-supply contracts that are up for bidding via competitive selection process (CSP).
Oil companies announced a fuel-price reduction effective Tuesday morning.
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