EnergyShell exits Philippine gas field in $460 mln deal
Reuters
3 minute read
The logo of Royal Dutch Shell is seen at a petrol station in Sint-Pieters-Leeuw, Belgium January 30, 2019. REUTERS/Yves Herman/File Photo
Royal Dutch Shell (RDSa.L) has agreed to sell its stake in an offshore gas field in the Philippines for $460 million as part of its strategy to narrow its oil and gas operations.
Shell sold its 45% stake in Service Contract 38 (SC38), a deep water licence which includes the producing Malampaya gas field, to a subsidiary of the Udenna Group which already holds a 45% stake in the project.
The base consideration for the sale is $380 million, with additional payments of up to $80 million between 2022 to 2024 contingent on asset performance and commodity prices, Shell said in a statement.
Udenna gets hold of Malampaya stake msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Published January 28, 2021, 9:13 PM
Former Chooks-to-Go 3×3 commissioner Eric Altamirano was formally tapped as tournament director of the PBA’s own 3×3 tournament which starts this year.
Alaska team governor Dickie Bachmann, who chairs the PBA 3×3 committee, bared that he and Altamirano are scheduled to meet next week to begin crafting plans for the new competition which was postponed last year due to the COVID-19 pandemic.
Altamirano’s appointment came months after stepping down as founding commissioner of the two-year-old Chooks 3×3 league.
He will join the committee that includes team governors Raymond Zorrilla of Phoenix Super LPG and Erick Arejola of NorthPort, Samahang Basketbol ng Pilipinas 3×3 program director Ronnie Magsanoc and PBA technical official Joey Guanio.
Published December 22, 2020, 6:34 PM
Calvin Abueva bumps fists with Phoenix team governor Raymond Zorrilla after signing a three-year contract extension on Tuesday. Also in the photo is Abueva’s agent Danny Espiritu. (Photo from Danny Espiritu)
Calvin Abueva officially signed a three-year extension with Phoenix Super LPG following a splendid comeback from a 16-month suspension.
His agent Danny Espiritu posted a photo showing Abueva bumping fists with Phoenix team governor Raymond Zorrilla after inking on the dotted line Tuesday afternoon.
Terms were not disclosed but Abueva’s contract is estimated at P15.12 million since he’ll receive the maximum monthly salary of P420,000.