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 (PSE), Phoenix Petroleum further emphasized that “the company has no knowledge of any interest to purchase banked gas as of date of writing.”
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 Gen continued “to be interested if PNOC will sell the banked gas.”
It was PNOC President and CEO Reuben S. Lista who indicated to Manila Bulletin that several parties still have standing offers to purchase the fuel – and he named First Gen, along with Phoenix Petroleum Philippines Inc. of businessman Dennis Uy and state-run Power Sector Assets and Liabilities Management Corporation (PSALM) as the prospective takers.
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
Phoenix to market lubricants in Indonesia mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
Published May 12, 2021, 5:00 AM
Listed firm Phoenix Petroleum Philippines Inc. has declared cash dividend that will be paid to holders of its Series 4 (PNX4) preferred shares, according to the firm’s disclosure to the Philippine Stock Exchange.
The payout will be anchored on 7.5673-percent per annum interest rate; and will cover shareholders as of record date May 21, 2021 and to be settled on May 24 this year.
For the PNX3B series of the company’s preferred shares, it stated that go-signal on cash dividend declaration “has yet to be approved, including pertinent dates, which have yet to be set and determined.”
The Uy-led oil firm previously indicated that for it to shore up revenue stream, it will be re-calibrating business pivot to the high-margin retail segment of the downstream oil sector as well as on the liquefied petroleum gas (LPG) market.