Energy & Mining

The National Electrification Administration (NEA) and the Department of Information and Communications Technology (DICT) have signed a memorandum of understanding (MOU) to improve data transmission and internet connectivity across the Philippines.

Semirara Mining and Power Corp., the country’s main coal producer, reported a 12 percent decline in first-quarter net income to P3.8 billion from P4.4 billion a year earlier, as softer coal shipments and weaker power generation offset relatively steady pricing, highlighting operational headwinds even as global coal benchmarks remained firm.

PXP Energy Corporation reported a wider first-quarter loss as higher financing costs and weaker crude prices offset modest revenue gains, while signaling a continued push to rebuild its upstream portfolio amid maturing assets.

Local electricity supplier EvoEnergi has been chosen to provide 22 megawatts of power to 224 McDonald’s stores in Luzon, the companies announced Wednesday.

Fuel prices in the Philippines may increase next week following the United Arab Emirates’ exit from Organization of the Petroleum Exporting Countries, according to a local fuel retailer.