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DOE says SPEX-Udenna 'consummated' Malampaya stake sale – Manila Bulletin

The Department of Energy (DOE) said at a Congressional hearing on Thursday, Sept. 2, that the sale of the 45-percent operating stake of the Malampaya gas field has already been consummated by Shell Philippines Exploration B.V. (SPEX) and Malampaya Energy XP (MEXP), a subsidiary of Udenna Corporation ....

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Two solons call for House probe on TV5–ABS-CBN partnership

Two congressmen have filed House resolutions (HRs) seeking an inquiry in aid of legislation on the recent partnership that was forged by local media giants TV5 and ABS-CBN.

TV5 logo (top) and ABS-CBN logo (Wikipedia)
READ:
https://mb.com.ph/2022/08/11/tv5-abs-cbn-announce-landmark-deal/
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As It Happens: ABS-CBN's franchise

ABS-CBN Corp. stopped broadcasting on its TV and radio stations on May 5, 2020 after the National Telecommunications Commission issued a cease and desist order. The network's franchise had lapsed on May 4 without action by the House of Representatives.
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Lotilla directs PNOC-EC to address 'infirmities' in Malampaya stake sale – Manila Bulletin

As issues are raised that businessman Dennis Uy cannot legally sell the 45 percent operating stake in the Malampaya project because its deal with Shell Philippines Exploration B.V. (SPEX) was never consummated,
Energy Secretary Raphael Perpetuo M. Lotilla is taking a hands-off position and will le ....

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Poe respects PBBM veto of DLPC franchise expansion

Senator Grace Poe with former Senate Pro Tempore Ralph Recto (File photo) MANILA - Senator Grace Poe respects President Ferdinand Marcos Jr.'s exercise of his veto powers on the expansion of the franchise area of Davao Light and Power Company (DLPC). Marcos earlier sent a letter to Congress citing the House Bill (HB) 10554's susceptibility to "legal and/or constitutional challenge" due to the apparent overlap with a franchise granted to North Davao Electric Cooperative Inc. (Nordeco). Poe said the people of Davao clamored for a new power provider after being "held hostage by onerous power supply agreements entered into with less than due diligence." "The grant would have rolled out cheaper and better electricity services that can spur much-needed growth in the region," she said in a statement. Stressing that the interest of consumers comes first, Poe said that Congress made sure in the measure that the franchise expansion would not be violative of ....

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