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ARTICLE FINDER

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

Phoenix Petroleum offers to pay taxes in advance

Mar 26, 2017 - 9:55 PM

This marks the first time any oil company has volunteered to pay its taxes in advance to show support for a government program

HIGHER TAXES. This is Phoenix Petroleum's gesture of support to the administration's proposed tax reform, which includes higher excise taxes. Image from Phoenix Petroleum official website

Inflation hits 2.7% in January

Feb 07, 2017 - 3:05 PM

Prices rise at a faster rate than at any point last year due to increases in oil transport housing and utilities according to NEDA

Oil producers say output cut on track

Jan 23, 2017 - 12:45 AM

Compliance is great it s been really fantastic says Saudi Arabian Oil Minister Khaled al Falih

SWEETWATER, TX - JANUARY 19: An oil pumpjack works on January 19, 2016 in Sweetwater, Texas. Global oil prices continue their downward fall with U.S. oil dropping towards $27 a barrel, its lowest since 2003, on worries about global oversupply. Following a diplomatic agreement on nuclear fuel with America, Iran has forecast it will add 500,000 barrels per day to global production, following the lifting of sanctions. Spencer Platt/Getty Images/AFP

Fuel prices to go up on Jan 3

Jan 02, 2017 - 3:32 PM

Oil companies in the Philippines will implement the price hike at 6 am on Tuesday January 3

OIL PRICES. An attendant fills up a motorcycle with gasoline at a gasoline station in Kamuning, Quezon City. File photo by Joel Liporada/Rappler

Fuel prices going up again Dec 20

Dec 19, 2016 - 5:10 PM

Oil companies in the Philippines will implement the price hike at 6 am on Tuesday December 20

OIL PRICES. An attendant fills up a motorcycle with gasoline at a gasoline station in Kamuning, Quezon City. File photo by Joel Liporada/Rappler

Qatar, Kuwait to cut oil production from January 1

Dec 14, 2016 - 1:10 PM

Oil companies in the two countries say they will comply with the recent OPEC agreement

A general view taken on April 16, 2016 shows the Shuaiba oil refinery south of Kuwait City. Kuwaiti oil workers plan to go on strike on April 17, 2016 in protest to what they call the government's plan to cut their annual benefits and bonuses. / AFP PHOTO / YASSER AL-ZAYYAT

Oil soars as non-OPEC producers agree on caps

Dec 12, 2016 - 3:22 PM

Oil soars following a landmark deal by Russia and other non OPEC producers to join the cartel in capping output

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

Oil resumes rise after OPEC cut

Dec 01, 2016 - 3:21 PM

Crude futures prices surged more than 10 immediately after the OPEC deal

A boat (foreground) is seen past an oil tanker (background) docked next to an oil refinery on Bukom island off Singapore on January 18, 2016. Roslan Rahman/AFP

IN PHOTOS: The 2016 MVP Bossing Awards

Dec 01, 2016 - 1:52 PM

Last November 23 PLDT SME Nation recognized 8 outstanding Filipino entrepreneurs for their achievements in driving their businesses towards inclusive growth See the highlights here

OPEC boosts oil price with output cut

Nov 30, 2016 - 12:10 PM

UPDATED It represents a dramatic reversal from OPEC s Saudi led strategy introduced in 2014 of flooding the market to force out rivals in particular US shale oil producers

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

OPEC scrambles to agree crucial oil output cut

Nov 28, 2016 - 3:27 PM

Failure to get an accord could send oil prices tumbling and reignite debate about the purpose of the 56 year old Organization of the Petroleum Exporting Countries

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

MVP on Reed Bank exploration: 'Absolutely no movement'

Nov 21, 2016 - 8:00 AM

Meanwhile a congressman is worried about energy security and says it is high time to allow the resumption of the stalled projects

NO MOVEMENT. After the Philippines' win against China over the West Philippine Sea, Pangilinan-led PXP Energy awaits government's cue on Reed Bank exploration. Photo by Alecs Ongcal/Rappler