phoenix petroleum philippines inc.

Phoenix Petroleum Philippines Inc., a local oil company planning to list on the stock exchange, said Thursday one of its wholly-owned subsidiaries recently signed a supply deal with UAE-based oil refiner Emarat. The unit, Phoenix Global Mercantile Inc., will distribute Emarat’s high-grade lubricants in the Philippines, Phoenix Petroleum said.

Alberto Alcid, director for the lubricants and chemicals […]

June 16th, 2007 – Posted in Oil and Gas

South Sea Petroleum Holdings Ltd. said its bid to sell 48 percent of unit South Sea Petroleum (Philippines) Corp. will not proceed. Company secretary Lam Lee Yu said US financial investor RTM Financial Corp. had decided not to proceed with a preliminary agreement to buy a significant stake in South Sea Petroleum (Philippines).

The stake was priced […]

October 22nd, 2006 – Posted in General, Mining Stocks, Oil and Gas

Pilipinas Shell Petroleum Corp., a unit of the Royal/Dutch Shell group, has shelved plans to expand its 110,000-barrel per day refinery in the Philippines due to increased costs, its spokesman said on Monday.
Shell has decided to stop studying an expansion to its refinery in Tabangao, Batangas near Manila, said Bobby Kanapi, general manager for external […]

January 22nd, 2007 – Posted in General

Nido Petroleum Philippines Ltd. plans to undertake an initial public offering (IPO) in the medium term to fund capital expenditures for future oil exploration in the Philippines, a top company official said.
David Whitby, managing director of Australia-based Nido Petroleum Ltd., told reporters on Friday that they are eyeing to eventually list their shares at the […]

May 20th, 2007 – Posted in General, Oil and Gas

Seaoil Petroleum Corp. and Flying V will increase the prices of their diesel, gasoline and kerosene products by 50 centavos a liter at 12:01 a.m. on Monday, a GMA Network Flash Report said Sunday evening. First to raise prices was Chevron Philippines Inc. at 12:01 a.m. on Saturday, followed by industry leader Petron Corp. Saturday noon.

Total […]

June 19th, 2006 – Posted in General, Oil and Gas

Exxon Mobil says it will invest at least $100 million in offshore oil exploration near the Philippines. Stephen Greenlee, vice president for Exxon Mobil Exploration Co., says Exxon is evaluating seismic data from the area and could start drilling next year, he said.

The Philippines government this week announced that a consortium of mostly Philippine companies […]

June 14th, 2008 – Posted in Oil and Gas

Philippines Orders Evaluation of Mining Sites After Last Year’s Waste Spill The Philippines on Wednesday ordered an evaluation of mining sites in the country after a cyanide-laced waste spill at an Australian-operated mine last year led to suspension of the company’s operations.

The evaluation should zero in on the facilities’ tailing ponds and waste dumps as the […]

July 12th, 2006 – Posted in General

The Philippines aims to lure mostly foreign firms to invest $122 million in mining projects this year, the Mines and Geosciences Bureau said on Tuesday. The targeted investments were on top of the $500 million previously placed by firms in 24 projects since 2005 as part of a programme to revive the local mining industry.

Benjamin de […]

July 18th, 2006 – Posted in General

Canadian mining company TVI Pacific is investing 23 million dollars to develop a copper and zinc mine and is looking to buy into others in the southern Philippines, the company said.
“We would like to grow the company, that’s the strategy,” said Yulo Perez, manager of local affiliate TVI Resource Development Philippines Inc., which is producing […]

July 28th, 2006 – Posted in General, Mining Stocks, Precious metal

Net oil imports to the Philippines fell 2.6 percent in volume terms last year partly due to conservation measures implemented as prices soared, the government said on Sunday. Energy Secretary Raphael Lotilla said the country’s net oil imports fell to 100.8 million barrels last year compared with 103.46 million in 2005.

However, the Southeast Asian country’s net […]

April 16th, 2007 – Posted in Mining Stocks, Oil and Gas

Shipments of nickel laterite ore from the southern Philippines to China more than tripled in April from a year earlier as Chinese companies sought alternative supplies.
Exports rose to 492,002 tons from 144,547 tons, according to Bureau of Customs data obtained yesterday. The southern Philippines mines most of the nation’s low-grade ore, which competes with easier-to-process […]

May 11th, 2007 – Posted in Nickel

APC Group Inc. said its wholly owned subsidiary, Aragon Coal Resources Inc. (ACRI), signed two coal operating contracts with the state-run Department of Energy.
In a statement, APC said ACRI’s first contract area in Masbate, central Philippines, covers two coal blocks, while the second contract area comprises three coal blocks in Isabela Province, northern Philippines.

January 8th, 2007 – Posted in Coal, General