petroleum - updates

Rappler's latest stories on petroleum

ARTICLE FINDER

Pilipinas Shell to set up integrated energy system in Batangas

Oct 06, 2019 - 3:35 PM

A solar farm and a battery energy storage system will be installed at Pilipinas Shell's Tabangao oil refinery in Batangas City

Dennis Uy denies China oil firm ghosted him

Sep 02, 2019 - 6:10 PM

Dennis Uy's Phoenix Petroleum says it is still in talks with China National Offshore Oil Corporation for a $2-billion joint venture

Higher biodiesel blend pushed as copra prices remain low

Jul 11, 2019 - 8:40 PM

Industry stakeholders say even a 1% increase in coconut methyl ester in diesel can help bring up copra prices, which have been declining

Public and private vehicle owners form long lines at a gas station to avail of current lower gas prices as a 12 midnight big time oil price hike of 220 pesos for diesel and 150 pesos for gasoline looms. January 14, 2019. Photo by Jire Carreon/Rappler

Iraq looking at options in case Gulf oil route cut – spokesman

Jun 17, 2019 - 11:46 PM

Lawmakers have also called for an emergency session with Iraq's ministers of oil, trade, planning and transport to 'prepare to confront the possible dangers'

TO PORT. This picture taken on June 15, 2019 shows tanker ships in the waters of the Gulf of Oman off the coast of the eastern UAE emirate of Fujairah. Photo by Giuseppe Cacace/AFP

Saudi, UAE see sufficient oil supplies, rising stocks

May 20, 2019 - 7:42 AM

Oil exporting countries are discussing how to stabilize a volatile oil market amid rising US-Iran tensions in the Gulf, which threaten to disrupt global supply

Khalid Al-Falih, Saudi Energy and Oil Minister and Chairman of OPEC's Joint Ministerial Monitoring Committee (JMMC), speaks to journalists during the 10th JMMC meeting in Algiers on September 23, 2018.  Ryad KRAMDI / AFP

Phoenix Petroleum posts record net income of P2.77 billion in 2018

Feb 26, 2019 - 12:55 PM

Dennis Uy's Phoenix Petroleum posts impressive numbers, with net income soaring by 82% and revenues by 99% in 2018

SPECTACULAR FINISH. Phoenix Petroleum posts its highest earnings to date. Rappler file photos. Photo by LeAnne Jazul/Rappler


Phoenix Petroleum invests P250 million for Batangas LNG hub

Feb 01, 2019 - 6:04 PM

Phoenix Petroleum says it is putting up an initial investment of P250 million for an liquefied natural gas hub in Batangas

LPG prices rise on February 1

Feb 01, 2019 - 1:46 PM

At least 3 companies submit their notice of increases to the Department of Energy on February 1

Dennis Uy's Phoenix Petroleum, China's CNOOC get nod for LNG terminal

Jan 14, 2019 - 8:00 PM

The Department of Energy grants Tanglawan Philippines LNG Incorporated the notice to proceed to build a liquefied natural gas terminal in Batangas

GRANTED. The Department of Energy grants the joint venture of Dennis Uy and China's CNOOC the notice to proceed to build an LNG facility. Rappler file photos

Trump asks OPEC not to cut production

Dec 05, 2018 - 11:37 PM

Members of the Organization of Petroleum Exporting Countries and other oil-producing nations prepare to meet in Vienna to discuss lowering their output

(FILES) In this file photo taken on November 9, 2018 US President Donald Trump speaks to the press before departing the White House for Paris in Washington, DC. President Donald Trump said November 13, 2018 that the United States was aware of undeclared North Korean missile bases revealed by US researchers but insisted all was fine."We fully know about the sites being discussed, nothing new -- and nothing happening out of the normal," Trump wrote on Twitter. "I will be the first to let you know if things go bad!" he said.  NICHOLAS KAMM / AFP

Qatar to quit Saudi-dominated OPEC in 2019

Dec 03, 2018 - 11:12 PM

Gas production remains the top the priority for Qatar, which is the world's the biggest exporter of liquefied natural gas

LEAVING OPEC. Saad Sherida Al-Kaabi, Qatari Minister of State for Energy Affairs, speaks during a press conference in the capital Doha on December 3, 2018. Photo by Anne Levasseur/AFP

Dennis Uy, China firm may bag major oil contract

Nov 23, 2018 - 11:40 AM

Dennis Uy's Phoenix Petroleum and China National Offshore Oil Corporation team up to build an LNG import terminal in Batangas. Their tandem is the lone applicant, so far.

Makati says Phoenix Bangkal station had no business permit

Nov 06, 2018 - 11:21 PM

Phoenix Petroleum however says it had complied with all required permits and it even voluntarily closed down the station which was the source of a gas leak last week

GAS LEAK. Firefighters discover the Phoenix Petroleum station along Evangelista street in Barangay Bangkal, Makati City is the source of a gas leak. Photo by Inoue Jaena/Rappler

Makati gas station owners summoned after Phoenix gas leak

Nov 03, 2018 - 6:12 PM

Acting City Administrator Michael Camiña says owners need to be reminded of safety guidelines for gasoline stations to prevent future leaks

INSPECTION. Firefighters warn of an explosion if diesel fumes accumulate too much aboveground. Photos from Makati police

PH signs deal with Israeli firm for oil exploration east of Palawan

Oct 18, 2018 - 9:30 AM

President Rodrigo Duterte signs a Petroleum Service Contract allowing Israeli company Ratio Petroleum Ltd to explore for oil and gas in a 416,000-hectare area east of Palawan

PHILIPPINE-ISRAEL ENERGY COOPERATION: Officials of the Philippine government, the State of Israel and Israeli firm, Ratio Petroleum Ltd., come together for a photo after President Rodrigo R. Duterte signed today (17 October) the Petroleum Service Contract of Area 4 (East Palawan) under the Fifth Philippine Energy Contracting Round.  (L-R) DOE Assistant Secretary Caron Aicitel E. Lascano, DOE Undersecretary Donato D. Marcos, DOE Secretary Alfonso G. Cusi, Department of Foreign Affairs Secretary Teodoro L. Locsin Jr., President Rodrigo R. Duterte, H.E. Rafael Harpaz, Israeli Ambassador to the Philippines, Mr. Yigal Landau, owner and Member of the Board of Ratio Petroleum Ltd., Mr. Eitan Aizenberg, Chairman and Senior Vice President for Exploration and Production of Ratio and Petroleum Ltd., and Mr. Itay Raphael Tabibzada, CEO and President of Ratio Petroleum Ltd. Photo from DOE Public Affairs Office

[ANALYSIS] Why are petroleum products so expensive again?

Oct 03, 2018 - 12:48 PM

Maybe this is as good a time as any to rethink our country’s long-term relationship with oil

10-centavo levy vs oil, petroleum tankers constitutional – SC

Sep 12, 2018 - 7:41 PM

The Supreme Court reverses an earlier decision by a lower court, saying oil tankers pose a larger risk to the environment in the event of an oil spill

Philippines to sign exploration deal with Israeli oil company

Sep 04, 2018 - 3:33 PM

The Philippines offers Ratio Petroleum an area east of Palawan to explore for oil resources

President Rodrigo Roa Duterte shakes hands with Armed Forces of the Philippines Vice Chief of Staff Lieutenant General Salvador Mison Jr. as the President was accorded foyer honors at the Ninoy Aquino International Airport (NAIA) Terminal 2 in Pasay City on September 2, 2018 before heading off to his official visits to the State of Israel and the Hashemite Kingdom of Jordan. KING RODRIGUEZ/PRESIDENTIAL PHOTO

OPEC agrees ouput rise of 'about' 1 million barrels – Saudi

Jun 22, 2018 - 10:22 PM

Saudi Arabia, backed by non-member Russia, has argued that it is time to raise production in order to meet growing demand and appease major consumer countries like the US, India and China

OIL PRODUCERS. File photo shows Saudi Energy Minister Khaled al-Faleh (left) and Russian Energy Minister Alexander Novak at a meeting of OPEC and non-OPEC members in Jeddah on April 20, 2018. Photo by Amer Hilabi/AFP

OPEC sees 'considerable uncertainty' in oil market

Jun 12, 2018 - 9:55 PM

Question marks over global economic growth and resulting oil demand make forecasting difficult, says the Organization of the Petroleum Exporting Countries

Motorists gas up at a Tax Reform for Acceleration and Inclusion (TRAIN) Law implemented gasoline station in Paco, Manila, days ahead of the 15-day minimum inventory requirement of oil companies, on January 10, 2018. Photo by Ben Nabong/Rappler

Cebu's Alegria Oil Field can power 60-megawatt gas plant – DOE

Mar 18, 2018 - 7:20 PM

Energy Secretary Alfonso Cusi says the Alegria Oil Field would have two wells ready to produce a total of 360 barrels per day

Cebu's Alegria Oil Field to begin commercial production

Mar 14, 2018 - 5:50 PM

The Department of Energy says the natural gas and oil production of the field may last until 2037, based on the development plan crafted after the initial testing

GAS AND OIL. Energy Secretary Alfonso Cusi (second to the left) declares the Alegria Oil Field in Southern Cebu to have commercial quantities of natural gas and oil resources. Photo from DOE

Eastern Petroleum, Russian automaker to launch vehicles in PH

Feb 25, 2018 - 10:10 PM

The local oil firm will be the exclusive distributor of GAZ commercial vehicles in the Philippines

FLEET MODERNIZATION. The two firms also agree that GAZ Group would supply in the country Gazelle Next buses, which fully meet the requirements of the government's fleet modernization program. Screenshot from http://gazglobal.com/

Oil firms cut prices for 2nd straight time

Feb 18, 2018 - 8:40 PM

The price of gasoline goes down by P1.05 per liter, diesel by P1.25 per liter, and kerosene by P1.20 per liter on Sunday, February 18

OIL ROLLBACK. Motorists gas up at a gasoline station in Paco, Manila on January 10, 2018. Photo by Ben Nabong/Rappler

Shell gives light and hope to indigent families

Feb 07, 2018 - 6:30 PM

100 families from Norzagaray, Bulacan receive solar-powered lights from Shell and Liter of Light

Globe to set up cell sites, Wi-Fi hotspots at Shell gas stations

Jan 22, 2018 - 8:25 PM

The telco and the oil firm identify an initial 14 Shell stations for their new partnership

Photo from Globe Telecom

#ThewRap: Things you need to know, January 2, 2018

Jan 02, 2018 - 11:48 AM

Hello! Here are the stories you need to know this Tuesday.

FIRECRACKER INJURY. One of 12 patients treated at the Jose R. Reyes Memorial Hospital  in Sta. Cruz, Manila, due tofirecracker-related injuries on January 1, 2018. Photo by Angie de Silva/Rappler

New tax rates don't apply to old petroleum stocks, DOE warns

Jan 01, 2018 - 4:49 PM

New excise tax rates on petroleum products are levied upon importation, not at the point of sale to the consumers

NEW TAX RATES. The implementation of excise tax and value added tax (VAT) for petroleum products under the Tax Reform for Acceleration and Inclusion Law is effective on January 1, 2018. File photo

DOE starts price freeze on basic energy goods in areas under state of calamity

Dec 26, 2017 - 6:01 PM

The price freeze holds for 15 days on household LPG and kerosene as areas in the Visayas and Mindanao deal with the aftermath of two pre-holiday storms

FLOODING IN TACLOBAN. Heavy rain brought by Tropical Storm Urduja floods a road leading to downtown Tacloban City on December 15, 2017. File Photo by Voltaire Tupaz/Rappler

Dennis Uy's Phoenix Petroleum inks deal to buy FamilyMart

Oct 30, 2017 - 2:55 PM

The planned acquisition of FamilyMart's Philippine franchise from Ayala Land and the SSI Group would mark Phoenix Petroleum's entry into the fast-growing domestic convenience retail market

Shell stations to offer charging for electric vehicles

Oct 10, 2017 - 1:25 PM

Lack of charging equipment is one of the main reasons for the slow uptake of electric vehicles in the Philippines

CHARGING POSTS SOON. The agreement requires that the initial 100 pilot sites for the charging stations will be strategically located in Pilipinas Shell's retail stations in Metro Manila. Rappler file photo

OPEC to discuss extending cuts, quotas – UAE minister

Sep 25, 2017 - 6:48 PM

United Arab Emirates Energy Minister Suheil al-Mazrouei says the oil market has rebalanced after OPEC and non-OPEC producers agreed to cut output in a historic deal last year

OIL ORGANIZATION. The logo of OPEC is pictured at the OPEC headquarters on the eve of the 171th meeting of the Organization of the Petroleum Exporting Countries in Vienna, on November 29, 2016. Joe Klamar/AFP

Oil down as U.S. refineries struggle from Harvey impact

Aug 31, 2017 - 2:25 PM

The storm caused the closure of refineries in the US oil producing heartland which traders fear will lead to bigger crude stockpiles and push down prices

An oil refinery is shown near Houston following Hurricane Harvey August 29, 2017 in Houston, Texas. Win McNamee/Getty Images/AFP

How to grow a business, according to Dennis Uy

Aug 16, 2017 - 10:00 AM

The 43 year old businessman from Davao – also a staunch supporter of President Rodrigo Duterte – is one of the most aggressive dealmakers in the country acquiring companies left and right

Sit down interview with Phoenix Petroleum President and CEO Dennis Uy on July 12, 2017. Photo by LeAnne Jazul/Rappler

Core business fuels Phoenix Petroleum's income

Aug 14, 2017 - 11:37 AM

The oil firm s strong performance was brought about by the 24 increase in revenues from its core petroleum business

Big business winners, losers in Duterte's 1st year

Jul 24, 2017 - 5:03 PM

The stock price of Dennis Uy s Phoenix Petroleum increased about 92 from July last year while Ongpin associated Philweb s stock price fell 46 3

FIREBRAND. Though President Rodrigo Duterte has for the most part left businessmen on their own, his tirades against select businessmen have brought about  tremors at the Philippine Stock Exchange.

Nigeria's ex-oil minister battles slew of graft cases

Jul 23, 2017 - 12:38 PM

Diezani Alison Madueke is the first female minister of petroleum resources whose term was marred by corruption allegations

NIGERIA CASE. Diezani Alison-Madueke is Nigeria's first female minister of petroleum resources whose service was marred with corruption claims. Photo from Wikipedia

Chelsea Logistics' final offer price: P10.68 each

Jul 20, 2017 - 7:11 PM

This is lower compared to the P14 63 maximum offer price earlier set by the company

GO PUBLIC. Thirty percent of the company’s outstanding common shares will be listed with the Philippine Stock Exchange on August 8 under the ticker symbol 'CLC.' In the photo is Chelsea founder Dennis Uy. Photo by LeAnne Jazul/Rappler

PSE approves Dennis Uy's Chelsea Logistics IPO

Jul 19, 2017 - 5:52 PM

Priced at P14 63 each Chelsea Logistics expects to earn P7 59 billion from the initial public offering to fund its fleet expansion and acquisition of logistics and shipping firms among others

TO BE PRIME MOVER. 'Going public will further strengthen our position to serve the need for better shipping and logistics in a fast-growing economy like the Philippines,' Chelsea founder Dennis Uy says. Photo by LeAnne Jazul/Rappler

The week in photos: July 8-14, 2017

Jul 15, 2017 - 9:30 AM

This week s selection of photo highlights here and around the world

People cool off in a swimming pool in Yangzhou, Jiangsu province on July 12, 2017.  The summer heatwave is forecast to continue and expand over more of the country, with people being warned to protect themselves from the sun. / AFP PHOTO / STR / China OUT

Dennis Uy, Duterte's friend, creates P100-M mutual fund for gov't troops

Jul 11, 2017 - 10:31 PM

The mutual fund would offer financial security to soldiers and policemen as well as their families through sound investment practices and guidance programs

GRANT FOR SOLDIERS. Phoenix Petroleum CEO Dennis Uy (right) was among the major campaign contributors of President Rodrigo Duterte in 2016. Photo by Leanne Jazul/Rappler

Dennis Uy's Chelsea Logistics gets SEC approval for IPO

Jul 11, 2017 - 9:10 PM

The Securities and Exchange Commission approves Chelsea Logistics Corporation s planned P8 billion initial public offering

'GREAT DAY.' 'This is a great day for us. Thank you. I hope we can get the support of the investors,' Chelsea chief Dennis Uy says. Photo by Leanne Jazul/Rappler

Duterte visits PSE for campaign donor Dennis Uy

Jul 11, 2017 - 7:14 PM

Duterte is the first Philippine president in recent history to attend the anniversary of the listing of a company at the Philippine Stock Exchange

FIRST VISIT TO PSE. President Rodrigo Duterte and Cabinet members join Phoenix Petroleum CEO Dennis Uy onstage at the PSE trading hall. All photos by LeAnne Jazul/Rappler

Phoenix Petroleum seeks $126-M acquisition of Petronas Energy, Duta

Jul 06, 2017 - 9:25 PM

Before acquiring the two firms Phoenix Petroleum must secure the approval of the Philippine Competition Commission

ACQUIRE MORE. This comes after Phoenix and PDB (Netherlands) BV signed an MOU on planned 100% share acquisition of PEPI and its affiliate, Duta. Image from Phoenix Petroleum

Oil producers 'might have to' extend output cuts – Saudi minister

Apr 20, 2017 - 3:23 PM

Saudi Arabia s energy minister says oil producing countries might have to extend output cuts agreed for the first 6 months of the year in order to achieve the desired rebalancing of the market

FUEL. A worker pumps fuel at a petrol station outside Dakar, Senegal on January 17, 2016.  Seyllou/AFP

Logistics boosts 2GO's net income in 2016

Apr 17, 2017 - 6:20 PM

The management of 2GO attributes the strong performance to sustained topline growth coupled with improved cost efficiencies

LIFTED BY LOGISTICS. 2GO's non-shipping revenues grows by 30% to P10.32 billion in 2016 due to increased service offerings and improved market share from its major accounts. Screenshot from 2GO website

Phoenix boss Dennis Uy replaces Tagud as head of 2GO

Apr 10, 2017 - 7:07 PM

The Davao based Uy also serves as the chairman of Udenna Corporation the parent firm of Phoenix Petroleum Corporation and Chelsea Logistics Corporation

NEW CHIEF. Dennis Uy replaces Sulficio Tagud Jr. as president and CEO of 2GO's parent firm, NENACO. Photo of Uy from Apex Mining website

PSE announces 58 listed companies are now Shariah-compliant

Apr 07, 2017 - 8:16 PM

The latest count is its highest record since October 2015

HIGH RECORD. The PSE announces 58 companies are now Shariah-compliant, the highest record since October 2015.

Will tax reform really hurt the poor?

Apr 01, 2017 - 9:30 AM

With the vast popularity of the President there’s no politically better time to push for a contentious tax reform bill

Oil producers eye extension of output cuts

Mar 27, 2017 - 1:20 AM

OPEC and non OPEC producers are studying whether to extend the cuts for another 6 month period

OIL OUTPUT. An oil pumpjack works on January 19, 2016 in Sweetwater, Texas. File photo by Spencer Platt/Getty Images/AFP