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Philex-led consortium gets SC75 contract

Philex Petroleum Corp. has received a copy of Petroleum Service Contract No. 75 (SC 75) from the Department of Energy, which is getting ready to launch another round of auctions for oil and coal contracts in the first quarter of the year.   In a disclosure to the Philippine Stock Exchange, Philex Petroleum said the [...]

Posted: January 3rd, 2014 in Headlines | Read More »

Otto Energy to acquire BHP Billiton’s stake in SC 55

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Otto_Energy

Australian firm Otto Energy Ltd. has executed a letter of intent to acquire the 60-percent stake of BHP Billiton in Service Contract 55 off Palawan.

Posted: November 29th, 2013 in Latest Business Stories | Read More »

PH weighs options on future of SC 55

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Energy Secretary Carlos Jericho Petilla: Weighing options. INQUIRER FILE PHOTO

The Philippine government is weighing its options on Service Contract 55 (SC 55) oil exploration area off Palawan after the operator, BHP Billiton Petroleum (Philippines) Corp., decided to withdraw, leaving its venture partner in limbo.

Posted: November 22nd, 2013 in Latest Business Stories | Read More »

Filipino, China oil firms eye deal in disputed sea

DOE Secretary Jericho Petilla. AP FILE PHOTO

A Filipino-British company has begun talks with China’s state-owned offshore oil producer for a deal to jointly explore for oil and gas in the Reed Bank, a vast offshore area disputed between China and the Philippines, a Filipino official said Wednesday.

Posted: October 23rd, 2013 in Latest Business Stories | Read More »

Nido unit extends drilling in West Calamian to 2014

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A unit of Nido Petroleum Ltd. will be taking more time to drill into the West Calamian oil and gas block off northwest Palawan, in an area adjacent to the producing Malampaya gas field.

Posted: June 14th, 2013 in Headlines | Read More »

Kuwait firm joins Galoc oil project

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Kuwait Foreign Petroleum Exploration Co. (Kufpec), a subsidiary of Kuwait’s national oil company, has acquired a 26.8-percent working interest in the joint venture operating the Galoc oil field in offshore Palawan.

Posted: May 4th, 2013 in Editor's Pick,Headlines | Read More »

Nido plans to drill in new prospect under SC 63

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Australian firm Nido Petroleum Ltd. plans to drill an exploration well in a new prospect within the area covered by Service Contract 63 in offshore Palawan.

Posted: May 2nd, 2013 in Headlines | Read More »

SC 55 group pursuing exploration plan

BHP Billiton and its partners in Service Contract 55 said they remained keen on pursuing the exploration and development of prospective oil and gas blocks off Palawan despite the difficulties they were facing.

Posted: April 16th, 2013 in Headlines | Read More »

Philex Petroleum reports P1-B loss last year

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PLDT chairman Manuel V. Pangilinan: Signs of growth.   INQUIRER FILE PHOTO

Philex Petroleum Corp., led by businessman Manuel V. Pangilinan, posted a net loss of P1.09 billion last year, a reversal of the P537 million net income it registered in 2011.

Posted: February 22nd, 2013 in Latest Business Stories | Read More »

Philex-led group wins Palawan oil contract

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A consortium composed of Philex Petroleum Corp., PNOC Exploration Corp. and PetroEnergy Resources Corp. has bagged the contract to explore and develop prospective oil and gas blocks off Northwest Palawan.

Posted: February 15th, 2013 in Headlines | Read More »

Basic Energy tying up with Malaysian firm

Basic Energy Corp. has forged an agreement with Malaysia-based Petrosolve Sdb BHd for the joint identification, exploration, development, management and operation of oil wells in the Philippines or overseas.

Posted: February 12th, 2013 in Headlines | Read More »

DOE awarding 8 coal exploration contracts

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The Department of Energy is awarding eight local companies with service contracts to explore and develop 11 prospective coal blocks, which were auctioned off in 2011 under the Philippine Energy Contracting Round 4.

Posted: February 11th, 2013 in Headlines | Read More »

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