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Renewables options needed in the Philippines despite grid limitations: clean energy advocates

EDC makes changes in senior leadership

MANILA, Philippines Clean energy powerhouse Energy Development Corp. (EDC) of the Lopez group is making senior leadership changes as the company’s long-time president Richard Tantoco is set to step down next month. First Gen, in a stock exchange filing, said Tantoco will be stepping down as executive vice president of the listed energy company effective July 1 due to medical reasons. He will also be resigning as president of First Gen.

EDC makes changes in senior leadership

Phoenix balks but First Gen keen on buying 'banked gas' – Manila Bulletin

Published May 26, 2021, 2:51 PM Uy-led firm Phoenix Petroleum Philippines Inc. has denied interest to buy the ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that shall be extracted from the Malampaya field. It was no less than PNOC President and CEO Reuben S. Lista who indicated that Phoenix Petroleum is among the firms that has standing offer for the banked gas, but the oil firm said that “statement is unconfirmed.” In a disclosure to the Philippine Stock Exchange (PSE), Phoenix Petroleum further emphasized that “the company has no knowledge of any interest to purchase banked gas as of date of writing.”

First Gen keen to buy Malampaya 'banked gas' – Manila Bulletin

Published May 25, 2021, 4:08 PM Lopez-led First Gen Corporation confirmed that it remains very keen on buying the ‘banked gas’ that can still be extracted from the Malampaya field. According to Jerome Cainglet, vice president of First Gen, “we have expressed our interest to purchase the banked gas for use of our gas-fired plants.” He qualified that since the 2016 bidding set by the Philippine National Oil Company (PNOC), which is the government entity now owning the banked gas, First Gen continued “to be interested if PNOC will sell the banked gas.” It was PNOC President and CEO Reuben S. Lista who indicated to Manila Bulletin that several parties still have standing offers to purchase the fuel – and he named First Gen, along with Phoenix Petroleum Philippines Inc. of businessman Dennis Uy and state-run Power Sector Assets and Liabilities Management Corporation (PSALM) as the prospective takers.