Energy & Mining

The various fuel retailers have implemented another round of price cuts for all petroleum products, effective today. This marks the second consecutive week of price cuts, highlighting ongoing concerns about the potential slowdown in global economic growth.

First Gen Corp. is actively seeking liquefied natural gas (LNG) suppliers to secure fuel for its four gas-fired power plants in Batangas as it prepares for the critical hot months. The company issued a tender in February for one LNG cargo to ensure the uninterrupted operation of its facilities, which collectively provide a total capacity of 2,017 megawatts (MW).

Emerging Power Inc. (EPI), the renewable energy arm of Nickel Asia Corporation (NAC), has secured a P5.175-billion senior term loan facility from Rizal Commercial Banking Corporation (RCBC) to fund the construction of its 145-megawatt peak (MWp) Cawag solar power project in Subic, Zambales.

Motorists could see another round of fuel price reductions as early as next week, marking the second consecutive week of price rollbacks. According to local fuel stakeholders, the price drop will likely apply to all petroleum products, including gasoline, diesel, and kerosene.

Berde Renewables Inc., a local renewable energy developer, has formed a strategic joint venture with Thai engineering, procurement, and construction (EPC) contractor, Power Systems and Solutions Co. Ltd. (PSS), aimed at accelerating Thailand’s clean energy transition.