Philex unit posted net loss of P24.5M in first 3 months
By Amy R. RemoPhilex 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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Shares of Philex Petroleum Corp. on Monday sizzled as the company unveiled an upbeat exploration plan for its concession area in Recto Bank (formerly Reed Bank), located about 148 kilometers west of Palawan province and believed to contain 3.4 trillion cubic feet of natural gas. Philex Petroleum shares, which were listed on the Philippine Stock [...]
