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ACEN: RE portfolio to hit 100% by 2025

By 2025, AC Energy Corp.’s (ACEN) portfolio will be 100-percent renewable. On Tuesday, the power arm of conglomerate Ayala Corp. said the board approved this transition as part of the company’s commitment to achieve net zero emissions by 2050. Net zero is a global movement to achieve zero net greenhouse… ....

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DoE approves force majeure request of SC 55 consortium

BusinessWorld
May 14, 2021 | 7:21 pm
THE DEPARTMENT of Energy (DoE) has cleared service contract (SC) 55 consortium’s request to put its offshore west Palawan petroleum block under force majeure for one year, based on disclosures from two firms.
In a regulatory filing on Friday, the Ayala Group’s oil and gas exploration unit ACE Enexor, Inc. said its subsidiary Palawan55 Exploration & Production Corp., received DoE’s letter on May 11. Palawan55, which holds majority or 75% participating interest in the consortium, is the operator of the SC 55,
The DoE approved the consortium’s request to place the block under force majeure.
“The letter…states that the timeline of the SC 55 Appraisal Period will be adjusted accordingly, and the end of the period will be adjusted by the same amount of time that SC 55 was on Force Majeure,” ACE Enexor said. ....

Raymundoa Reyes , Energy Do , Ayala Group , Exploration Production Corp , Enexor Inc , Energy Department , Pryce Corp , Pryce Gases Inc , Production Corp , Force Majeure , Chief Operating Officer Raymundo , ஆற்றல் செய் , அயலா குழு , ஆய்வு ப்ரொடக்ஶந் கார்ப் , ஆற்றல் துறை , ப்ரிசே கார்ப் , ப்ரிசே வாயுக்கள் இன்க் , ப்ரொடக்ஶந் கார்ப் , படை மஜேுரே , தலைமை இயங்குகிறது அதிகாரி ராய்முந்தோ ,

Ayala firm gets DOE nod to delay oil search 1 year

Published May 14, 2021, 2:10 PM
Ayala-led firm ACE Enexor Inc. has secured the approval of the Department of Energy (DOE) on its bid for one-year force majeure declaration on targeted oil and gas exploration and well drilling activities at its Service Contract (SC) 55 off Palawan basin.
Photo credit: https://enexor.com.ph
In a disclosure to the Philippine Stock Exchange (PSE), the company stipulated that it received an official correspondence from the DOE dated May 11, 2021, “approving its request to place SC 55 under force majeure for a period of one year.”
The Ayala firm further noted that with the go-signal from the energy department, “the timeline of the SC 55 appraisal period will be adjusted accordingly;” and this shall be in accordance with the timeframe when the block under SC 55 shall also be set under the state of force majeure. ....

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Ayala unit readies drilling plan for Palawan block

Ayala unit readies drilling plan for Palawan block
bworldonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bworldonline.com Daily Mail and Mail on Sunday newspapers.

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Index falls anew on concerns over vaccine rollout

Index falls anew on concerns over vaccine rollout
Iris Gonzales
© STAR/ File
Index falls anew on concerns over vaccine rollout
MANILA, Philippines The local stock market pared its losses, but stayed in negative territory yesterday as concerns over the slow rollout of the COVID-19 vaccine weighed down investor sentiment.
The benchmark Philippine Stock Exchange index (PSEi) closed at 7,242.85, down 15.26 points or 0.21 percent.
The broader All Shares index also slipped, declining by 2.83 points or 0.06 percent to end at 4,334.93.
Among the subsectors, only mining and oil and financials finished higher, with the rest closing in the red.
A total of P9.173 billion worth of shares changed hands yesterday, with advancers trumping losers, 131 to 105, while 37 issues were unchanged. ....

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