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Dennis Uy's Phoenix sells SG unit to raise money

Dennis Uy's Phoenix sells SG unit to raise money
inquirer.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from inquirer.net Daily Mail and Mail on Sunday newspapers.

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Prospective investor, PH Resorts sign deal | The Manila Times

PH Resorts Group Holdings Inc., the Udenna Group's gaming and tourism holding firm, said Tuesday that it was in talks with a Cebu-based developer for the sale of majority stakes in two subsidiaries.

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DITO raises fresh funds via share sale | The Manila Times

LISTED holding and investment firm DITO CME Holdings (DITO CME) has raised P2.2 billion through the sale of shares by one of its units to a third party registered in the Cayman Islands.

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Malampaya Consortium commits $600 million for further exploration, drilling –DOE

The Malampaya Consortium, led by Enrique Razon’s Prime Energy Resources Development BV, committed to investing about $600 million (roughly P33.7 billion) for further exploration and drilling activities beyond the existing production area within the Service Contract 38 (SC 38).

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Marcos renews Malampaya Service Contract 38 for another 15 years

“This is the key to our drive to energy security and calculated to advance the nation’s energy interest. This project will reduce our dependence on oil imports while ensuring a stable supply of energy,” Marcos said during the signing ceremony in Malacañang Palace.

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After Dito's antitrust complaint, Globe wants them to pay P622-M penalty

The move came after the Dennis Uy-led telco filed antitrust complaints against the country’s telco duopoly of PLDT, Inc. and Globe on account of various reasons.

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Dennis Uy settles debt issue with Clark airport, banks ahead of July 27 deadline

Dennis Uy settles debt issue with Clark airport, banks ahead of July 27 deadline
cnnphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cnnphilippines.com Daily Mail and Mail on Sunday newspapers.

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DOE used unaudited FS in approving Chevron-Udenna deal

DOE used unaudited FS in approving Chevron-Udenna deal
powerphilippines.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from powerphilippines.com Daily Mail and Mail on Sunday newspapers.

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Malampaya generates $11.9B in revenues after nearly 2 decades

Malampaya generates $11.9B in revenues after nearly 2 decades
on May 5, 2021 at 12:39 pm
The Malampaya gas production facility yielded a total of $11.9 billion (around Php573 billion) in revenues with the national government receiving the bulk worth Php325 billion, as of end-December 2020, the Department of Energy (DOE) reported.
Based on a Manila Bulletin article, government-owned PNOC-Exploration Corporation (PNOC-EC) remitted Php20.8 billion in dividends to the Bureau of the Treasury last year.
PNOC-EC President and CEO Rozzano Briguez said that the $11.9 billion revenue from the Malampaya venture surpassed the initial projected revenue of $10 billion for the entire project duration. Malampaya’s Service Contract 38 began commercial operations in 2001 and is expected to end in 2024.

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Phoenix slashes 2021 capex by nearly half

Phoenix slashes 2021 capex by nearly half
on April 21, 2021 at 11:49 am
Phoenix Petroleum has cut down its capital expenditure (capex) for 2021 to Php800 million, nearly half its Php1.5 billion allocation in 2020 to save cash and rationalize spending.
Based on a report from BusinessMirror, Phoenix Petroleum Vice President for External Affairs Raymond Zorrilla said the lower capex for this year will allow the country’s third-largest oil firm to focus on its expansion plans and take advantage of existing assets and capital line strategy.
Phoenix’s capex for 2020 was actually half of the Php3 billion it programmed for the year.
This year’s capex would be sourced from internal funds and will include the carry-over budget from 2020 and growth capex for liquefied petroleum gas (LPG) and retail.

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