Energy & Mining
P2 billion cost savings from measures ahead of hot months
Guidelines implementing a government-wide energy saving program is seen generating an estimated P2 billion, the Department of Energy (DOE) said on Thursday. The guidelines implementing Administrative Order 15 signed earlier by President Ferdinand Marcos Jr. should be out the latest by mid-February.
Oil edges up 1% on big US crude withdrawal, China stimulus
Oil prices edged up about 1 percent on Wednesday on a bigger-than-expected U.S. crude storage withdrawal, a slump in U.S. crude output, Chinese economic stimulus, geopolitical tensions and a weaker dollar.
Meralco identifies 1,200-MW South Premiere Power CSP offer as “best bid”
Manila Electric Co. or Meralco, the country’s largest power distributor, said Wednesday the South Premiere Power Corp. offer to provide 1,200 megawatts of power has been selected as the “best bid” among three others under the government-mandated competitive selection process (CSP).
Petron allots more funds for power project, nearly exhausts bond proceeds
Petron Corp., the country’s largest oil company, has spent nearly all the P17.77 billion it raised from the sale of two series of fixed-rate bonds.
ACEN joint venture acquires Pennsylvania wind farm operator
ACEN Corp., the renewable energy arm of the Ayala Group, said Wednesday that one of its joint venture, UPC Power Solutions, has completed its purchase of EDF Renewables North America.
