Page 36 - First Gen News Today

Published May 26, 2021, 2:51 PM Uy-led firm Phoenix Petroleum Philippines Inc. has denied interest to buy the ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that shall be extracted from the Malampaya field. It was no less than PNOC President and CEO Reuben S. Lista who indicated that Phoenix Petroleum is among the firms that has standing offer for the banked gas, but the oil firm said that “statement is unconfirmed.” In a disclosure to the Philippine Stock Exchange (PS...

Published May 25, 2021, 4:08 PM Lopez-led First Gen Corporation confirmed that it remains very keen on buying the ‘banked gas’ that can still be extracted from the Malampaya field. According to Jerome Cainglet, vice president of First Gen, “we have expressed our interest to purchase the banked gas for use of our gas-fired plants.” He qualified that since the 2016 bidding set by the Philippine National Oil Company (PNOC), which is the government entity now owning the banked gas, First Ge...

Listed firm Phoenix Petroleum Philippines Inc., another company of businessman Dennis Uy, is reportedly offering to buy the Malampaya ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that had been previously valued between $700 million to $800 million, approximately P33 billion to P3

First Philippine Holdings sets P50-B capex; First Gen corners majority May 21, 2021 | 5:33 pm Lopez-led First Philippine Holdings Corp. (FPH) said on Friday that it is allocating P50 billion for its capital expenditures (capex) this year, 72% higher than last year’s P29 billion as its business units pursue their planned projects. “Majority of the capex for this year will be for the energy group, First Gen [Corp.], [with] P26 billion,” FPH Chief Financial Officer Emmanuel Antonio P. Singso...

Published May 19, 2021, 2:33 PM Lopez-led First Gen Corporation has earmarked US$530 million capital expenditures (capex) this year that will be funneled mainly to the expansion projects of subsidiary Energy Development Corporation (EDC) as well as its ongoing interim liquefied natural gas (LNG) import terminal. During the company’s annual stockholders’ meeting, First Gen Chief Finance Officer Emmanuel P. Singson stated that “EDC is targeting a higher capex this year and is planning to sp...

First Gen allots $530-million capital expenditure for 2021 May 20, 2021 | 12:08 am Reporter FIRST Gen Corp. is allocating $530 million of capital expenditures (capex) this year, with majority going to projects of its geothermal subsidiary Energy Development Corp. (EDC), an official of the firm said on Wednesday. “In 2021, we are expecting to spend about $530M in capital expenditures, mainly driven by EDC, the LNG (liquified natural gas) terminal (in Batangas City), and the Aya Pumped Storage ...

Devon Ackerman 17, Med School Student Meet Devon Ackerman, a 2017 biochemistry and chemical biotechnology graduate of East Stroudsburg University and now an M.D. candidate in the Doctor of Medicine program at Penn State University’s College of Medicine in Hershey. Read More Devon has been a true Warrior since coming to ESU in 2013 from Hanover, Pa. A four-year starter on ESU’s football team and a three-time Academic ...

BusinessWorld May 17, 2021 | 9:04 am Special Features Writer The country’s energy grid continues to shift away from traditional sources and further to renewable ones. This was highly noticed in the past months as concerns on individual health and environmental welfare heightened amid the coronavirus disease 2019 (COVID-19) pandemic. Hearing the louder call to harness cleaner sources of energy, both public and private sectors have strengthened their commitments to energize t...

BusinessWorld May 14, 2021 | 7:03 pm First Gen Corp. saw its net income attributable to its parent grow by 29% year on year to P4.01 billion ($84 million) in the first quarter, thanks to higher recurring earnings from its natural gas and renewable energy (RE) portfolios. In a statement, the Lopez-led power generation company said it generated P3.8 billion ($78 million) in recurring net income in the first three months of 2021, a 21% increase from a year ago’s P3.3 billion ($6...

First Gen supplying Ali Mall with hydropower on May 11, 2021 at 5:43 pm First Gen Corporation has been tapped by the Araneta Group to supply renewable energy (RE) to the iconic Ali Mall in Cubao, Quezon City. The Lopez-led firm, through subsidiary Bacman Geothermal, Inc. (BGI), signed an agreement with Araneta City, Inc. (ACI), the Araneta Group’s property arm. Under the two-year deal, BGI will supply the mall with 2.1 megawatts (MW) of power from First Gen’s 132MW Pantabangan-Masiway hydr...