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Phinma Petroleum withdraws from Leyte exploration project

PHINMA Petroleum and Geothermal, Inc. (PPG) has withdrawn from a service contract that sought to explore the possibility of geothermal energy in Leyte, the company told the stock exchange on Thursday. The energy exploration company, a unit of Phinma Energy Corp., said it would recognize a loss of P32.7 million for the write-off of its […] The post Phinma Petroleum withdraws from Leyte exploration project appeared first on BusinessWorld......»»

Category: financeSource: bworldonline bworldonlineMay 17th, 2018

Phinma to conduct further studies in Palawan

By Victor V. Saulon, Sub-Editor PHINMA Petroleum and Geothermal, Inc. (PPG) plans to conduct further geophysical studies in service contract (SC) 55, the offshore southwest Palawan deepwater exploration site near the area where gas was discovered in 2015. Raymundo A. Reyes, Jr., PPG executive vice-president and chief operating officer, said the company had committed to […] The post Phinma to conduct further studies in Palawan appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 15th, 2018

Phinma eyes LNG facility in Cebu

By Victor V. Saulon, Sub-Editor PHINMA Petroleum and Geothermal, Inc. (PPG) is developing a liquefied natural gas (LNG) facility with a 120-megawatt (MW) power plant in Cebu, which company officials expect to be completed by 2022 to 2023. “We are developing an LNG-to-power project in Argao, Cebu,” Raymundo A. Reyes, Jr., PPG executive vice-president and […] The post Phinma eyes LNG facility in Cebu appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsApr 13th, 2018

Phinma Petroleum may complete geothermal deal this year

MANILA, Philippines - Newly renamed Phinma Petroleum and Geothermal Inc. (PPGI) is hopeful of closing a geothermal project deal within the year......»»

Category: financeSource:  philstarRelated NewsJun 25th, 2017

Iran: China’s state-owned energy CNPC takes over French Total

TEHRAN, Iran --- Iran's official IRNA news agency is reporting that China's state-owned petroleum corporation has taken a majority share of the country's South Pars gas project after French oil and gas company Total announced it would pull out because renewed U.S. economic sanctions against Iran. The Saturday report quotes Mohammad Mostafavi, an official in Iran's state oil company, as saying CNPC now owns 80 percent of the shares in the $5 billion project, having bought shares from Total. CNPC originally had some 30 percent of shares in the project. The renewal of U.S. sanctions took effect on Tuesday. /cbb...Keep on reading: Iran: China’s state-owned energy CNPC takes over French Total.....»»

Category: newsSource:  inquirerRelated NewsAug 12th, 2018

Cusi Orders Importation of Low-Cost Oil to Help Arrest Inflation

  Energy Secretary Alfonso G. Cusi takes steps to address slowing growth and high commodity prices by tapping the Philippine National Oil Company-Exploration Corporation (PNOC-EC) to import low-priced fuel.   PNOC-EC acquired in December last year, a trading function to generate added income for the government.   “PNOC-EC will source low-priced petroleum products particularly diesel, […].....»»

Category: newsSource:  boholnewsdailyRelated NewsAug 11th, 2018

DoTS: Fast tracks project completion and transactions

DPWH Samar First District Engineering Office (SFDEO) participated in the Training on Document Tracking System (DoTS) for Civil Works from July 9 to 11 at the DPWH Multi-purpose Hall in Baras, Palo, Leyte......»»

Category: newsSource:  samarnewsRelated NewsAug 1st, 2018

Phoenix expects to be part of CNOOC’s proposed LNG project

PHOENIX Petroleum Philippines, Inc. expects to be part of the liquefied natural gas (LNG) project being proposed by China National Offshore Oil Corp. (CNOOC), possibly in partnership with state-led Philippine National Oil Co. (PNOC). The post Phoenix expects to be part of CNOOC’s proposed LNG project appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJun 25th, 2018

Oil, gas exploration firms seek retention of perks

The Petroleum Association of the Philippines (PAP) yesterday called for the retention of incentives for their sector, saying this was needed especially in light of the looming depletion of the Mala.....»»

Category: newsSource:  philippinetimesRelated NewsJun 20th, 2018

PNOC mulls taking over Malampaya after 2024

The oil and gas exploration arm of state-run Philippine National Oil Co. is looking into the possibility of continuing to run the Malampaya deep water gas-to-power project without its present partners, a ranking official of the Department of Energy said......»»

Category: financeSource:  philstarRelated NewsJun 19th, 2018

Phoenix inks deal with likely partner in LNG terminal project

Phoenix Petroleum Philippines Inc. yesterday said it had signed a memorandum of understanding (MOU) with Beijing-based CNOOC Gas and Power Group Co. Ltd. for a potential partnership in a liquefied.....»»

Category: newsSource:  philippinetimesRelated NewsJun 6th, 2018

Phoenix inks deal with CNOOC for LNG project

PHOENIX Petroleum Philippines, Inc. on Tuesday said it had signed a memorandum of understanding (MoU) with a unit of China National Offshore Oil Corp. (CNOOC) to develop a receiving terminal for imported liquefied natural gas (LNG) in the country. The post Phoenix inks deal with CNOOC for LNG project appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsJun 6th, 2018

Gov’t share from Malampaya questioned

Was the P424.74 billion received by the government as royalties from the Malampaya natural gas project since 2002 enough? The Commission on Audit (COA) said the declared share of the government from Malampaya was "unreliable" after finding that the Department of Energy (DOE) failed to inspect the books of contractor Shell Philippines Exploration B.V. (SPEX) on time. In its 2017 annual audit report, the COA said the DOE's Conventional Energy Resources Compliance Division (CERCD) had not audited SPEX's books and accounts for 2005 to 2015 within one year as provided for by Service Contract No. 38. Only audit reports for the years 2002 to 2004 were issued on time. The latest audi...Keep on reading: Gov’t share from Malampaya questioned.....»»

Category: newsSource:  inquirerRelated NewsMay 28th, 2018

Typhoon-proof housing community project in Leyte nearing completion

FAMILIES residing near a lake in Leyte will soon be less vulnerable to floods as the Philippine Red Cross, in partnership with the American Red Cross, inches closer to the completion of a disaster-resilient relocation site for communities severely affected by Typhoon Yolanda. PRC Chairman Richard Gordon said the P30-million….....»»

Category: newsSource:  journalRelated NewsMay 19th, 2018

How dolphins shaped environmental laws, protected Benham Rise

MANILA, Philippines— In 2007, environmental lawyers led by Atty. Benjamin Cabrido Jr, took the initiative to serve the most unlikely clients: dolphins, whales, and porpoises. For almost 8 years, they argued in court and insisted that oil exploration, development and exploitation of resources by Japan Petroleum Exploration Co. Ltd. (Japex) ........»»

Category: newsSource:  rapplerRelated NewsMay 17th, 2018

Phoenix Petroleum breaks ground for asphalt facility

Phoenix Petroleum Philippines, Inc. said it had broken ground for the asphalt facility it is building with local and foreign partners in Calaca, Batangas. The project, under Phoenix Asphalt Philippines, Inc., launched on May 3. The unit is the joint venture of Phoenix Petroleum with Thailand-based Tipco Asphalt Public Co. Ltd, and PhilAsphalt Development Corp. […] The post Phoenix Petroleum breaks ground for asphalt facility appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMay 8th, 2018

Scientists shocked as NASA cuts only moon rover

In a move that shocked lunar scientists, theNational Aeronautics andSpace Administration (NASA) has canceled the only robotic vehicle under development to explore the surface of the Moon, despite President Donald Trump's vow to return people there. Scientists working on the Resource Prospector (RP) mission, a robotic rover that had been in development for about a decade to explore a polar region of the Moon, expressed astonishment at the decision. "We now understand RP was canceled on 23 April 2018 and the project has been asked to close down by the end of May," said the letter dated April 26 by the Lunar Exploration Analysis Group, addressed to NASA chief Jim Bridenstine and p...Keep on reading: Scientists shocked as NASA cuts only moon rover.....»»

Category: newsSource:  inquirerRelated NewsApr 28th, 2018

Phinma revives plan to put up LNG terminal

Phinma Petroleum and Geothermal Inc. is reviving a plan to build a liquefied natural gas integrated terminal in Cebu, company officials said......»»

Category: financeSource:  philstarRelated NewsApr 14th, 2018

PH, China presses joint South China sea project

THE Philippines and China have agreed to shelve their legal differences to be able to start joint exploration in the disputed South China Sea (SCS). Foreign Secretary Alan Peter Cayetano and China Foreign Ministry Spokesperson Geng Shuang made separate announcements on the development in their respective press conferences on Wednesday.….....»»

Category: newsSource:  journalRelated NewsApr 12th, 2018

OPMC shareholders approve venture into natural gas

Listed oil exploration company Oriental Petroleum and Minerals Corp. (OPMC) has secured the approval of its stockholders to venture into the upstream and downstream natural gas projects of the government while also obtaining their nod for the extension of its corporate life by another 50 years. OPMC, which is marking its 50th year in December […] The post OPMC shareholders approve venture into natural gas appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 27th, 2018

Animal waste: An alternative fuel

3 farming communities in Southern Leyte were relieved somehow from using expensive fuel in cooking after the DAR introduced to them the Community-managed Potable Water and Sanitation Hygiene (CPWASH) project......»»

Category: newsSource:  samarnewsRelated NewsMar 19th, 2018