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Philippine tycoons jostle for Shell’s Malampaya stake Philippine business tycoons are eager to buy Shell’s stake in the deep-water Malampaya project. However, any potential suitors for the 45% interest, valued at between $250 million and $300 million by analysts at Rystad Energy, will need to bring strong technical skills to eek more gas out of the aging field. © Bloomberg In the limelight: Shell Register here for the Energy Voice daily newsletter, bringing you key news and insight from across the global energy landscape. Thank you for signing up to our newsletter. Something went wrong ...

BusinessWorld March 4, 2021 | 12:09 am Pandemic hits toll roads, rail services, water and power businesses METRO PACIFIC Investments Corp. (MPIC) said on Wednesday that its core net income last year had declined 34% to P10.2 billion as the global health crisis slowed down economic activities and reduced business operations. “MPIC’s consolidated core net income for 2020 declined 34% to P10.2 billion owing largely to the economic contraction brought about by the COVID-19 pandemic,” the Manuel V-Pangilinan-led holding firm said in a regulatory filing. MPIC said contribution...

A consortium led by Hong kong-based First Pacific Company Limited of businessman Manuel V. Pangilinan has submitted last week its “final non-binding offer” to acquire the 45-percent stake of Shell Philippines Exploration B.V. (SPEX) in the multi-billion dollar Malampaya deep water gas-to-power proje

March 2, 2021 | 12:09 am Font Size AAA THE head of the MVP group of companies said on Monday that he was looking at acquiring the stake of Shell Philippines Exploration B.V. (SPEx) in the Malampaya gas-to-power project off the northwest Palawan coast. Manuel V. Pangilinan, chairman of Manila Electric Co. (Meralco), said that his group had recently submitted a non-binding offer to the operator of the country’s only natural gas field. “We’re looking at acquiring the share stake. We have submitted our final non-binding offer to Shell,” he said during a briefing on Meralco’s op...

BusinessWorld February 18, 2021 | 12:06 am Senior Reporter METRO Pacific Investments Corp. (MPIC) on Wednesday said its tollways unit Metro Pacific Tollways Corp. (MPTC) sold 100% of its stake in Thailand’s AIF Toll Roads Holdings Co., Ltd. for $149.25 million. FPM Tollway (Thailand) Ltd., a 100% indirect subsidiary of MPTC, entered into share purchase deals with “several parties” on Feb. 16 for the sale of 100% of its shares in AIF Toll Roads Holdings (Thailand) Co., Ltd., MPIC said in a disclosure to the stock exchange. AIF Toll Roads owns about 29.45% of the ...