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Philex Petroleum trims losses on assets sale


Philex Petroleum Corp. managed to reduce its losses in 2013 compared to the previous year after unloading a number of assets.   In a disclosure to the Philippine Stock Exchange, Philex Petroleum said its audited consolidated net loss reached P101.2 million for 2013 compared with a consolidated net loss of P1.086 billion in 2012.   [...]

Posted: February 21st, 2014 in Headlines | Read More »

Philex Petroleum records loss in H1


Philex Petroleum Corp.’s first-half loss ballooned due to foreign currency conversion losses on the company’s dollar denominated advances from parent firm Philex Mining Corp.

Posted: July 26th, 2013 in Headlines | Read More »

Philex Petroleum posted P1.09-B net loss in 2012


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 in net income registered in 2011.

Posted: February 22nd, 2013 in Editor's Pick,Headlines | Read More »

Philex Petroleum posts P80.5M net loss


Philex Petroleum Corp. posted a consolidated net loss of P80.49 million in the first half, a reversal of the P523.09 million in net profit it recorded during the same period last year.

Posted: July 26th, 2012 in Headlines | Read More »

MVP group firm on gas drilling plan


The group of businessman Manuel V. Pangilinan is committed to the drilling work program at the Recto Bank prospect under a gas exploration concession agreement with the Philippines, which is embroiled in a territorial dispute with China in the West Philippine Sea.

Posted: July 23rd, 2012 in Headlines | Read More »

DMCI now in MSCI index


Consunji-led DMCI Holdings has been included in the MSCI Global Standard Indices, an influential equity benchmark for large and mid-cap equities closely tracked by global fund managers. On the other hand, two Philippine companies—Philex Petroleum Corp. and Puregold Price Club—were added to the MSCI Small Cap Index. There were likewise some changes in the index [...]

Posted: May 16th, 2012 in Headlines | Read More »

Philex posts net loss of P58M


Philex Petroleum Corp., a wholly owned subsidiary of Philex Mining Corp., posted a total comprehensive net loss of P58 million in the first quarter of 2012, from a net income of P437.5 million in the same period last year.

Posted: May 16th, 2012 in Headlines | Read More »

PSEi down by 49.9 points

The local stock index pulled back from record highs on Friday as jitters over Standard & Poor’s two-notch sovereign credit downgrade on Spain added to profit-taking pressures.

Posted: April 27th, 2012 in Headlines | Read More »

Philex Petroleum profit hits P472M


Publicly listed Philex Petroleum Corp. posted a net income of P472 million in the first nine months of the year, boosted largely by the petroleum revenue of its subsidiary. In a disclosure to the Philippine Stock Exchange, Philex Petroleum said its net income was “generated principally from the petroleum revenue equivalent to P385.8 million, contributed [...]

Posted: October 26th, 2011 in Headlines | Read More »

Philex Petroleum shares sizzle on listing debut


MANILA, Philippines—Shares of Philex Petroleum Corp. sizzled on the company’s stock listing debut on Monday as the company unveiled an $80-million exploration plan for its concession area in the Recto Bank (Reed Bank), which contains the Sampaguita natural gas discovery in offshore west Palawan. Philex Petroleum, which listed by way of introduction on the PSE [...]

Posted: September 12th, 2011 in Latest Business Stories | Read More »

Philex eyeing petroleum exploration contracts


Philex Mining Corp., through its oil exploration subsidiary, Philex Petroleum Corp., is considering applying for service contracts to explore and develop potential petroleum areas, which are now being offered to investors by the government. “We’re looking at that as well. It’s something the country needs—(for companies) to explore. We don’t know yet which ones we [...]

Posted: August 1st, 2011 in Headlines | Read More »



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