Listed firm Phoenix Petroleum Philippines Inc., another company of businessman Dennis Uy, is reportedly offering to buy the Malampaya ‘banked gas’ of state-run Philippine National Oil Company (PNOC) that had been previously valued between $700 million to $800 million, approximately P33 billion to P3
First Philippine Holdings sets P50-B capex; First Gen corners majority
May 21, 2021 | 5:33 pm
Lopez-led First Philippine Holdings Corp. (FPH) said on Friday that it is allocating P50 billion for its capital expenditures (capex) this year, 72% higher than last year’s P29 billion as its business units pursue their planned projects.
“Majority of the capex for this year will be for the energy group, First Gen [Corp.], [with] P26 billion,” FPH Chief Financial Officer Emmanuel Antonio P. Singson said during the company’s virtual stockholders’ meeting.
First Gen will be using the budget to pursue the development of its liquefied natural gas (LNG) terminal.
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Published May 19, 2021, 2:33 PM
Lopez-led First Gen Corporation has earmarked US$530 million capital expenditures (capex) this year that will be funneled mainly to the expansion projects of subsidiary Energy Development Corporation (EDC) as well as its ongoing interim liquefied natural gas (LNG) import terminal.
During the company’s annual stockholders’ meeting, First Gen Chief Finance Officer Emmanuel P. Singson stated that “EDC is targeting a higher capex this year and is planning to spend US$280 million to catch up on its drilling and investments, as the Covid-19 pandemic resulted in the postponement of key activities last year.”
The EDC projects being advanced this year will include binary growth facilities – primarily its 3.6-megawatt Mindanao-3 and the 29MW Palayan Bayan project.
First Gen allots $530-million capital expenditure for 2021
May 20, 2021 | 12:08 am
Reporter
FIRST Gen Corp. is allocating $530 million of capital expenditures (capex) this year, with majority going to projects of its geothermal subsidiary Energy Development Corp. (EDC), an official of the firm said on Wednesday.
“In 2021, we are expecting to spend about $530M in capital expenditures, mainly driven by EDC, the LNG (liquified natural gas) terminal (in Batangas City), and the Aya Pumped Storage Project (in Nueva Ecija),” First Gen’s Chief Financial Officer Emmanuel Antonio P. Singson said during the firm’s virtual annual stockholders’ meeting on Wednesday.
The amount will cover $280 million of funding for EDC’s drilling activities, investments, and binary geothermal projects; $120 million for First Gen’s planned offshore LNG terminal; and $60 million for the 120-MW Aya Pumped Storage in Pantabangan, Nueva Ecija.