Oil nearing $100 a barrel red flag for central banks’ inflation fight
Just as global monetary policy switches toward high-altitude cruise control, another bout of turbulence is bearing down on the world economy with surging oil prices.
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Just as global monetary policy switches toward high-altitude cruise control, another bout of turbulence is bearing down on the world economy with surging oil prices.
SPEAKER Ferdinand Martin Romualdez is set to gather major oil players and the Department of Energy’s officials today to explore “win-win” solutions that will address the seemingly endless series of oil price hikes.
ATLANTIC CITY, N.J. — The independent watchdog agency of Congress agreed Thursday to look into the impacts that offshore wind development could have on the environment, fishing industry and other areas.
Some parts of Manila Electric Company (Meralco) franchise area experienced power interruption on Tuesday due to a tripping that led to the decrease of 396 megawatts (MW) in the utility firm’s power supply.
South Korea is eyeing to further boost its “strategic partnership” with the Philippines during the upcoming visit of South Korean President Yoon Suk Yeol and other Korean officials in the country in the coming months, the Office of the President said on Monday.
SUPPLY limitation, low incentives, delay in the conduct of grid impact studies, and the cost of financial guarantees are some of the reasons for the low turnout of bidders in the recently concluded second round of Green Energy Auction (GEA), according to energy secretary Raphael Lotilla.
A PRIOR notice of at least 48 hours is required before the Manila Electric Company (Meralco) could implement a service disconnection order of a consumer.
TRADE Secretary Alfredo E. Pascual urged top Japanese trading houses to participate in efforts to enhance bilateral economic and trade relations between the Philippines and Japan, particularly in the areas of technology and employment.
EL PRAT DE LLOBREGAT, Spain — Where once the population of Barcelona drank mostly from its rivers and wells, Spain’s second city now relies upon a labyrinth-like mesh of green, blue and purple pipes inside an industrial plant to keep it from going thirsty amid a prolonged drought.
PHILIPPINE-BASED AG&P (Atlantic, Gulf and Pacific Co.), a global leader in infrastructure solutions for energy, natural resources and industrial sectors, and Risco Energy Group Pte. Ltd. (Risco), the energy investment company focused on building the liquefied natural gas (LNG) supply chain in Indonesia, said they are jointly forming a company they see will play a crucial role in growing AG&P’s LNG foothold in Southeast Asia.
THE power business of Alcantara-led Alsons Consolidated Resources Inc. (ACRI) is seen to post a lower income for 2016 compared to last year, a company official said on Monday.
THE Manila Electric Co. (Meralco) has established a subsidiary that will serve as its retail electricity supplier (RES).
AS coal prices shoot up, First Gen Corp. of the Lopez Group on Monday strongly urged the Duterte administration to come up with an energy-mix policy in order to shield consumers from price surges affecting specific power-plant fuels. First Gen, which operates gas plants and utilizes renewable energy, aired the call, as prices of coal—the dominant fuel for power plants in the country—have turned volatile this year.
DMCI Power Corp. has been granted a six-year income-tax holiday for its 2×4.95 megawatt (MW) bunker-fired power plant in Aborlan, Palawan.
PHOENIX Petroleum Philippines Inc. posted a 19-percent jump in its net income in the third quarter this year to P903.8 million, from P758.4 million in the same period a year ago. The independent oil firm said this was driven by a 38-percent growth in fuel sales from January to September this year, compared to the same period last year.
FIRST GEN Corp. of the Lopez Group grew its net profits to $170 million from January to September this year, up 42 percent from the $120 million it made for the same period a year ago.
On the outskirts of a west Texan city, on top of one of America’s most prolific oil fields, sit 230 square miles of scrubland owned by one family for more than a century.
ABOITIZPower subsidiary Hedcor Inc. will supply Bukidnon Second Electric Cooperative Inc. (Buseco) 5 megawatts (MW) in 2017.
THE Lopez-led Energy Development Corp. (EDC) has submitted a bid for the geothermal assets of energy giant Chevron Corp. in the Philippines and Indonesia.
MORE than a hundred days since the assumption of the new administration, industry players in the power sector are still waiting for the government to issue a policy on energy mix to guide investors craft long-term investment plans.
THE commercial operation of First Gen Corp.’s (First Gen) fourth gas plant is now a go, following the clearance secured from the regulators. On Wednesday First Gen said it received its certificate of compliance (COC) from the Energy Regulatory Commission (ERC) for the 414-megawatt (MW) combined-cycle natural gas-fired San Gabriel power plant in Santa Rita, Batangas.
CONSUNJI-LED Semirara Mining and Power Corp. on Wednesday reported P9.56 billon in net earnings at end-September this year, a growth of 54 percent, from the P6.2 billion recorded a year ago.
Vietnam and Ireland agreed to increase their cooperation in education, renewable energy, information technology and health care during a visit to the Southeast Asian country by Irish President Michael Higgins.
THE moratorium on oil and gas exploration at the West Philippine Sea (WPS) stays, despite the improving relations between the Philippines and China.
A Department of Environment and Natural Resources (DENR) undersecretary on Monday said the Philippines and Japan are strengthening their waste-to-energy (WTE) cooperation, and are eyeing Quezon and Davao cities as potential pilot sites.
Oil rebounded amid a broader market rally ahead of the US election as Algeria remains confident Organization of Petroleum Exporting Countries (Opec) will set output quotas at its next meeting to manage production.
AFTER weeks of oil-price increases, oil companies on Monday announced a price rollback of petroleum products effective Tuesday morning.
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