Oil companies to slash gas prices
By Amy R. Remo
Local oil announced they were to slash prices of petroleum products starting Sunday to reflect the softening of oil prices in the global market.
Local oil announced they were to slash prices of petroleum products starting Sunday to reflect the softening of oil prices in the global market.
The Philippine government expects to award before the end of the year the service contracts that will allow companies to explore and develop some of the country’s oil, gas and coal blocks that have been offered under the fourth Philippine Energy Contracting Round.
Local oil companies raised the prices of their petroleum products starting Monday, lifting the “price freeze” they imposed last week in the wake of the powerful monsoon rains that triggered massive flooding in Metro Manila and nearby provinces.
For businessman Manuel V. Pangilinan, the country comes first. The chairman of Philex Petroleum Corp. said he would abandon a proposed partnership with state-owned China National Offshore Oil Corp. (CNOOC) if the sovereignty or commercial issues involving the disputed Recto Bank are not resolved to the satisfaction of his group and the Philippine government.
Six oil firms belonging to the Philippine Institute of Petroleum (PIP) are urging the government to form a group that would scrutinize their financial statements, following their announcement on Sunday that they would open their books to the public. At a joint press briefing Monday, representatives of Chevron (Philippines), Liquigaz Philippines, Petron, PTT Philippines, Pilipinas [...]
Pilipinas Shell Petroleum Corp. will slash Tuesday prices of regular gasoline by 75 centavos a liter, kerosene by 30 centavos a liter, and diesel by 40 centavos a liter. However, the price of premium gasoline will rise by 30 centavos a liter. The price adjustments were meant to reflect the decline in oil prices on [...]
Oil giants Pilipinas Shell Petroleum Corp. and Petron Corp. are cutting prices of cooking gas by P1.20 per kilogram effective Thursday (September 1), to reflect the decline in the international contract price of liquefied petroleum gas (LPG).
Energy-based conglomerate San Miguel Corp. plans to upgrade the capacity of a newly acquired offshore oil refinery following a $610-million deal to acquire the downstream petroleum businesses of American oil and gas multinational giant Exxon Mobil Corp. in Malaysia.
State-run National Power Corp. assured the provincial government of Batanes, on Tuesday, that it could provide sufficient fuel to run the power facilities on the island.
The Department of Energy has initially cleared local oil companies over allegations of overpricing fuel products during the Holy Week.
MANILA, Philippines—Pilipinas Shell Petroleum Corp. has raised prices of unleaded premium gasoline by 50 centavos a liter, diesel by 60 centavos a liter and kerosene by 40 centavos a liter effective Tuesday, to reflect the continued uptrend in the world oil market. The price hikes were roughly the same as the estimates of the Department [...]
