The registration shift of some electric cooperatives to the Cooperative Development Authority (CDA) will redound to P0.29 to P0.40 per kilowatt hour (kWh) reduction in their electricity rates due to value added tax (VAT) exemptions set under a governing policy. In a press conference, APEC Secretary General Luis Manuel Corral noted that the key benefit [...]
Archive for June, 2010
Electric coops see P0.40/kWh rate cut with registration shift (6/29/2010)
Posted in Manila Bulletin News, tagged CDA, Electric cooperatives, Power cost on June 29, 2010 | Leave a Comment »
Small oil firms seek suspension of zero tariff (6/29/2010)
Posted in Philippine Star News, tagged Oil tariff on June 29, 2010 | Leave a Comment »
The country’s smaller oil players are seeking the suspension of zero tariff on imported petroleum products in lieu of the 250-percent hike in toll fees at the South Luzon Expressway (SLEX). In a statement, Independent Philippine Petroleum Companies Association (IPPCA) chairman Fernando Martinez said it would be more advantageous to scrap the executive order eliminating [...]
Steag, Aboitiz to build 150-MW coal plant (6/29/2010)
Posted in Business World News, tagged Aboitiz, Coal, Mindanao, Power supply on June 29, 2010 | Leave a Comment »
DAVAO CITY — Steag State Power, Inc.’s power complex in Misamis Oriental is adding a 150-megawatt plant that will go on stream in 2013 to boost its existing 232-megawatt (MW) capacity, listed Aboitiz Power Corp. said. Aboitiz Power, Evonik Steag GmbH of Germany, and La Filipina Uy Gongco Corp., co-owners of the coal-fired plant, have [...]
Blame-game sparks on failure to get investments in ethanol (6/27/2010)
Posted in Manila Bulletin News, tagged Ethanol, Investments on June 28, 2010 | Leave a Comment »
The league of independent oil players took their aim against the Ethanol Producers Association of the Philippines (EPAP) for pinning the blame on the oil industry for the consequent failure on ethanol production facility investments which were banked on to underpin the country’s Biofuels policy. In a press statement, the Independent Philippine Petroleum Companies Association [...]
Contracts for oil, gas resources up for grabs (6/28/2010)
Posted in Inquirer News, tagged Exploration, Natural gas, Oil exploration, Service contracts on June 28, 2010 | Leave a Comment »
Energy execs push PECR to tap millions of barrels CONTRACTS for the exploration and development of up to 10 prospective oil and gas areas in the country are expected to be auctioned off once the Department of Energy (DOE) gets a new man to steer its helm. The DoE has already identified 16 prospective sedimentary [...]
Geothermal producer to settle ¥22-billion Miyazawa II loan (6/28/2010)
Posted in Business World News, tagged EDC, Financing, Geothermal energy on June 28, 2010 | Leave a Comment »
LOPEZ-LED Energy Development Corp. (EDC) will settle a ¥22-billion loan from the Japanese government today, to assuage concerns among investors of too much exposure to yen debt. EDC said in a statement the settlement of the company’s Miyazawa II loan would overhaul the currency mix of its debts. The company had already paid ¥12 billion [...]
Nido Petroleum to drill five more oil wells (6/28/2010)
Posted in Business World News, tagged Oil exploration, Tindalo on June 28, 2010 | Leave a Comment »
AUSTRALIA’S Nido Petroleum Ltd. is planning to roll out a 24-month exploration program soon to test potential “high-value” prospects off northwestern Palawan, following the flow of first oil at its Tindalo-1 well last month. Nido Petroleum President and Chief Executive Jose Victor A. de Dios told BusinessWorld in a telephone interview the company is planning [...]
Energy sector key to job creation (6/25/2010)
Posted in Manila Times News, tagged Job creation, Renewable energy on June 25, 2010 | Leave a Comment »
TO check mounting unemployment, Cavite Rep. Elpidio Barzaga is urging the Department of Energy (DOE) to use jobs creation as one of the key yardsticks to help it decide as to which renewable energy contracts to approve. “Government should spare no effort in generating jobs. All agencies should now consciously find ways to advance employment [...]
JCPC asked to probe power privatization pitfalls (6/25/2010)
Posted in Manila Bulletin News, tagged JCPC, NGCP, NPC, Privatization, PSALM on June 25, 2010 | Leave a Comment »
The alleged privatization pitfalls committed in the assets of the National Power Corporation (NPC) finally reached the corridor of the Joint Congressional Power Commission (JCPC) which is being asked to investigate the manner in which some facilities were disposed of and on the transactions sealed with private sector takers. It was gathered from the Congressional [...]
Shell exploration unit to start work in northeast Palawan (6/25/2010)
Posted in Business World News, tagged Exploration, PNOC-EC, Shell on June 25, 2010 | Leave a Comment »
ROYAL DUTCH Shell PLC’s local exploration unit, Shell Philippines Exploration B.V., will begin exploration in the northeastern side of Palawan next month, an official of the Department of Energy said. Energy Undersecretary Ramon V. Oca told reporters the company would begin work in Service Contract (SC) No. 60 and “hopefully start another well there.” SC [...]
