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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 »

Philex gets formal contract for SC74

Philex Petroleum Corp. reported on Thursday that the consortium to which its unit Pitkin Petroleum Plc belongs has been formally awarded a petroleum contract off Palawan.

Posted: September 6th, 2013 in Headlines | Read More »

Philex Petroleum unit closes coal mine

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Philex Petroleum Corp. on Monday said its subsidiary was closing a coal mine operation in Mindanao as it turned out to be unprofitable due to high operating costs and low product prices.

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

Philex unit posted net loss of P24.5M in first 3 months

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Philex Petroleum Corp. posted a net loss of P24.5 million in the first quarter of 2013, an improvement from the P46.2-million net loss it registered a year ago.

Posted: April 20th, 2013 in Headlines | Read More »

Philex increases stake in drilling firm to 50.28%

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Publicly listed Philex Petroleum Corp. has increased its stake in oil and gas exploration firm Pitkin Petroleum Plc to 50.28 percent from 18.46 percent.

Posted: April 8th, 2013 in Headlines | Read More »

Philex raises stake in Pitkin to 50.28%

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philex mining logo-ra

Publicly listed Philex Petroleum Corp. has increased its stake in oil and gas exploration firm Pitkin Petroleum Plc to 50.28 percent from 18.46 percent.

Posted: April 8th, 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 »

Philex Petroleum reports P132M loss

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philex mining logo-ra

Philex Petroleum Corp., led by businessman Manuel V. Pangilinan, posted a net loss of P132 million in the first nine months of 2012, a reversal of the P472-million net income it posted during the same period last year.

Posted: October 24th, 2012 in Latest Business Stories | Read More »

Pangilinan may drop China from exploration venture

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Manuel V. Pangilinan.  INQUIRER file photo

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.

Posted: June 28th, 2012 in Latest Business Stories | Read More »

Pangilinan brings in Chinese to disputed Recto Bank oil exploration group

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

Businessman Manuel V. Pangilinan plans to expand the consortium undertaking gas exploration at Recto Bank, which both the Philippines and China claim, to “internationalize” and “depoliticize” the concession area while boosting the financial and technological muscle for the project.

Posted: June 24th, 2012 in Headlines,Latest Business Stories | Read More »

Pangilinan eyes more partners in West Philippine Sea gas exploration

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Manuel V. Pangilinan.  INQUIRER file photo

Businessman Manuel V. Pangilinan plans to expand the consortium undertaking gas exploration in the Recto Bank, which is part of the territory disputed by the Philippines and China, to “internationalize” and “de-politicize” the concession area while boosting the financial and technological muscle for the project.

Posted: June 23rd, 2012 in Latest Business Stories | Read More »

Philex sets its sights on Palawan oil, gas field

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

Philex Petroleum Corp., led by businessman Manuel V. Pangilinan, will bid for a contract to explore and develop a prospective oil and gas field in northwestern Palawan.

Posted: May 11th, 2012 in Editor's Pick,Featured Gallery,Headlines,Photos & Videos | Read More »

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