Energy & Mining
Fuel price spike clouds Cebu Pacific growth
Cebu Pacific, the budget carrier unit of the Gokongwei Group, is bracing for potential turbulence from rising global fuel prices, even as the Philippines’ largest budget airline continues to post steady passenger growth early this year.
Philippines moves to cut mining permit processing time
The Philippine government is preparing an executive order that would cut mining permit processing time by at least half, a move aimed at improving the country’s competitiveness and attracting fresh investment into its mineral sector.
Strait of Hormuz closure push oil prices past $100/barrel
Global oil prices surged sharply, with Brent Crude for May delivery breaching USD100 per barrel for the first time in nearly four years as Iran threatened to keep the Strait of Hormuz closed amid escalating tensions with the US and Israel.
Possible power rate increase of P2–P4/kWh next month – ERC
The Energy Regulatory Commission (ERC) on Thursday said electricity prices at the Wholesale Electricity Spot Market (WESM) could rise by P2 to P4 per kilowatt-hour (kWh) next month, based on simulations by the Independent Electricity Market Operator of the Philippines (IEMOP).
Prime Infra secures P273.47B financing for major energy storage projects
Prime Infrastructure Capital Inc. (Prime Infra) has secured P273.47 billion in financing for the development of 2,000 megawatts (MW) of pumped storage hydropower projects, strengthening its role in large-scale energy infrastructure.
