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Udenna warns of gas supply deficiency at Malampaya field starting next year – Manila Bulletin
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Gatchalian to DOE: Review Shell-Udenna deal thoroughly
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Dennis Uy firm s $100-capitalization in Malampaya acquisition questioned – Manila Bulletin
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Shell, Chevron made over P350-B revenues from Malampaya prior to exit – Manila Bulletin
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Published July 2, 2021, 1:03 PM
The Department of Energy (DOE) is being urged to exercise ‘utmost transparency’ on its anticipated approval of the 45-percent Malampaya equity divestment of Shell Philippines Exploration B.V. (SPEX) to Malampaya Energy XP Pte. Lt., a subsidiary of Udenna Corporation owned by businessman Dennis Uy.
That was the call of Senate Committee on Energy Chairman Sherwin T. Gatchalian, following pronouncement by Energy Secretary Alfonso G. Cusi that the ‘documents’ relating to the sale had already been submitted to the DOE.
“That (Shell-Udenna sale purchase agreement documents) had been submitted to us and we are evaluating the financial, technical capability of the transaction. It’s in process actually right now, so we don’t have decision on that yet,” Cusi said.