oil companies - updates

Rappler's latest stories on oil companies


Abu Dhabi's ADNOC sells pipeline firm stake to foreign investors

Jun 23, 2020 - 9:40 PM

A consortium acquires a 49% stake in Gas Pipeline Assets, a newly formed subsidiary of Abu Dhabi National Oil Company

ABU DHABI. The seafront promenade in the Emirati capital Abu Dhabi with the Abu Dhabi National Oil Company office complex (C) in the foreground on May 29, 2019. File photo by Karim Sahib/AFP

Oil giant BP to cut 10,000 jobs on virus fallout

Jun 08, 2020 - 10:30 PM

BP CEO Bernard Looney says oil prices have plunged 'well below the level' the group needs 'to turn a profit'

BP. The company's logo at a gasoline station in Fort Wayne, Indiana. Photo from Shutterstock

Petrobras books steep loss amid 'worst crisis in 100 years'

May 15, 2020 - 10:35 AM

The earnings of Brazil's Petrobras in the 1st quarter of 2020 are down more than 1,300% compared to a year ago, as the coronavirus pandemic hits oil demand

CONTROVERSIAL. The headquarters of Brazil's state-owned oil company Petrobras in the center of Rio de Janeiro, on January 21, 2016. Vanderlei Almeida/AFP

Royal Dutch Shell cuts dividend for first time since WWII on oil crisis

Apr 30, 2020 - 8:25 PM

With oil prices plummeting, Royal Dutch Shell sinks into a $24-million net loss in the 1st quarter of 2020

SHELL. The headquarters of Royal Dutch Shell in the Netherlands. Photo from Shutterstock

Energy firm BP cuts spending by 25% as virus slashes oil demand

Apr 01, 2020 - 6:30 PM

'This may be the most brutal environment for oil and gas businesses in decades, but I am confident that we will come through it,' says BP CEO Bernard Looney

A handout picture taken on March 9, 2018, released by BP and received in London on November 22, 2018, shows an oil platform in the Clair Ridge oilfield in the North Sea, 45 miles off the coast of Scotland. - BP (formerly known as British Petroleum) announced Friday, the launch of a second phase of exploitation in the Clair field, British North Sea, with a targeted production of 120,000 barrels per day. (Photo by Stuart Conway / BP / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO / BP / STUART CONWAY" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS

Over 10% of retailers already imposed last round of fuel tax hike – DOE

Jan 26, 2020 - 4:00 PM

The final increase in excise tax under the TRAIN law can only be imposed on new stocks acquired in 2020, not on oil produced or imported in 2019

Oil prices saw a record surge after attacks on two Saudi facilities in the world's top gas producer. Photo by DARREN LANGIT

Duterte picks outgoing Air Force chief to head gov't oil exploration corporation

Jan 16, 2020 - 6:36 PM

Outgoing Air Force chief Lieutenant General Rozzano Briguez replaces former Philippine National Oil Company Exploration Corporation head Pedro Aquino Jr, who was sacked due to 'loss of confidence'

PRESIDENT'S PICK. Outgoing Philippine Air Force chief Lieutenant General Rozzano Briguez will take the reigns of the Philippine National Oil Company Exploration Corporation. RTVM Screenshot

DOE to oil firms: Use up old inventory first before slapping new tax

Dec 25, 2019 - 10:40 PM

The Department of Energy says oil companies may face large-scale estafa charges if they slap the TRAIN law's new taxes on old stocks in 2020

CHR: Big oil, cement firms legally, morally liable for climate change effects

Dec 11, 2019 - 10:19 AM

'We have found, based on the evidence presented before us and also our own research, that carbon majors may in fact be held morally liable and legally liable,' says the Philippines' Commission on Human Rights

CLIMATE ACTION. Demonstrators demand urgent action on the climate crisis from world leaders attending the COP25 summit, in Madrid, Spain on December 6, 2019. Photo by Oscar del Pozo/AFP

Saudi regulator approves Aramco share offering

Nov 03, 2019 - 2:26 PM

The IPO is the linchpin of Crown Prince Mohammed bin Salman's plan to revamp Saudi Arabia's economy and wean it off a decades-long dependence on oil

SAUDI ARAMCO. In this file photo taken on January 25, 2016, Saudi and Foreign investors stand in front of the logo of Saudi state oil giant Aramco during the 10th Global Competitiveness Forum in the capital Riyadh. Photo by Fayez Nureldine/AFP

Dennis Uy denies China oil firm ghosted him

Sep 02, 2019 - 6:10 PM

Dennis Uy's Phoenix Petroleum says it is still in talks with China National Offshore Oil Corporation for a $2-billion joint venture

Saudi Arabia committed to Aramco IPO – crown prince

Jun 16, 2019 - 10:25 PM

The planned initial public offering of Saudi Arabian oil conglomerate Aramco is expected to be the world's largest stock sale

A picture taken on May 10, 2016 shows over Shaybah, the base for Saudi Aramco's Natural Gas Liquids plant and oil production in the surrounding Shaybah field in Saudi Arabia's remote Empty quarter desert close to the United Arab Emirates, on May 10, 2016. - Despite collapsed global oil prices, production is expanding at Shaybah, as it is in other units of the company at the centre of the kingdom's Vision 2030 drive for diversification away from oil. The Saudi government plans to sell less than five percent of the company in what officials say will be the world's largest-ever share offering, while transforming Saudi Aramco into "a global industrial conglomerate". By 2020 the company says it will have tripled its gas processing capacity from levels at the turn of the century. (Photo by IAN TIMBERLAKE / AFP)

Duterte EO removes obstacle to oil exploration deal with China firm

May 30, 2019 - 12:25 PM

With Executive Order No. 80, public bidding is no longer required for PNOC Exploration Corporation to tap firms hoping to participate in its petroleum service contracts

President Rodrigo Roa Duterte presides over the Joint Armed Forces of the Philippines-Philippine National Police (AFP-PNP) Command Conference at the Malacañan Palace on April 8, 2019. RICHARD MADELO/PRESIDENTIAL PHOTO

Supreme Court rules BIR can't collect P3-B tax from Petron, Shell

Sep 19, 2018 - 3:07 PM

Dubbed as the tax refund scam of the 1990s, Petron and Shell win big in the Supreme Court

Supreme Court of the Philippines in PAdre Faura on June 19, 2018. Photo by LeAnne Jazul/Rappler

COA defies 3 admins: Contractors should pay P146B Malampaya tax

May 16, 2018 - 4:32 PM

Shell, Chevron and Philippine National Oil Company-Exploration Corporation (PNOC-EC), or collectively known as the Malampaya Consortium, were allowed not to pay P146.7 billion in income taxes by Presidents Arroyo, Aquino and Duterte

RUNNING OUT. Gas from the Malampaya project is expected to run out in a decade prompting firms to contemplate alternative sources. File photo from Sembcorp Marine website

Petron gets income boost from Bataan refinery

May 08, 2018 - 5:50 PM

Ramon Ang, chief of the country's largest oil retailer, says 'stable and improved operating efficiencies' in Bataan significantly contributed to the company's performance in the 1st quarter of the year

PETRON. In this file photo, a gasoline attendant loads petrol to motorcycle at Petron station in Manila on May 12, 2009. Photo by Jay Directo/AFP

Oil firms cut prices for 2nd straight time

Feb 18, 2018 - 8:40 PM

The price of gasoline goes down by P1.05 per liter, diesel by P1.25 per liter, and kerosene by P1.20 per liter on Sunday, February 18

OIL ROLLBACK. Motorists gas up at a gasoline station in Paco, Manila on January 10, 2018. Photo by Ben Nabong/Rappler

Petron to file corruption charges vs PNOC president

Oct 29, 2017 - 11:10 PM

The listed oil refiner is already locked in a legal battle with the state-run Philippine National Oil Company over a contract dispute

IMPACT ON INVESTORS. Petron chief Ramon Ang says government's failure to honor contract terms may dampen investor interest in the Philippines. File photo by Martin San Diego/Rappler

Petron seeks TRO vs state-run PNOC over contract dispute

Oct 22, 2017 - 10:20 PM

The feud between the listed oil refiner led by tycoon Ramon Ang and the Philippine National Oil Company goes to court, after the state-run firm allegedly violated their lease agreements

PNOC SUED. Petron chief Ramon Ang says waiving renewal clauses of the firm's lease deal with PNOC would hurt its operations, its shareholders, and the economy that relies on its petroleum products. Photo by Martin San Diego/Rappler

Meralco to bid alone for AES' coal plant in Zambales

Oct 03, 2017 - 4:55 PM

Meralco won't have a partner when it bids for a controlling stake in the facility. It'll likely compete with San Miguel and Aboitiz Power.

LONE WOLF. US electricity giant AES Corporation is selling its entire 51% interest in the Masinloc power facility, which it bought from the Philippine government for $930 million in 2008. Meralco will bid alone. File photo

18 die in Russia as bus plunges into sea

Aug 25, 2017 - 4:59 PM

UPDATED A spokesman for OTEKO the conglomerate which owns Tamanneftegaz says the bus was carrying people who were working on the company s construction site but who were not employed by the company directly

Phoenix Petroleum offers to pay taxes in advance

Mar 26, 2017 - 9:55 PM

This marks the first time any oil company has volunteered to pay its taxes in advance to show support for a government program

HIGHER TAXES. This is Phoenix Petroleum's gesture of support to the administration's proposed tax reform, which includes higher excise taxes. Image from Phoenix Petroleum official website

Indonesia's Pertamina to take stake in French oil company

Aug 01, 2016 - 6:41 PM

Already present in Algeria Pertamina would expand its footprint in Africa by acquiring Maurel Prom which has operations in Gabon and Tanzania

PERTAMINA. A motorcyclist fills up his vehicle with petrol at an Indonesian state energy firm PT Pertamina's petrol station in Jakarta on April 18, 2016. File photo by Goh Chai Hin/ AFP

Shell takes Malampaya tax dispute vs PH to int'l arbitration body

Jul 22, 2016 - 1:58 PM

Shell Philippines Exploration BV has raised its tax dispute with the Philippine government before the International Centre for Settlement of Investment Disputes

SECOND TIME. Shell in September last year decided to file an arbitration case with the Singapore International Arbitration Center over the Malampaya tax dispute

PNOC may proceed with BatMan pipeline without Congress OK

Mar 23, 2016 - 6:27 PM

The project involves building a 120 km underground natural gas pipeline from Batangas to Navotas

Gov't firm looking into fuel stockpiling

Feb 17, 2016 - 10:18 PM

Low oil prices make stockpiling fuel an attractive option but can the government and private sector handle it?

Plaridel Bypass, 2 other PPPs set for NEDA Board

Oct 15, 2015 - 2:30 PM

Projects up for the NEDA Board s final approval are: the Plaridel Bypass Toll Road Philippine Travel Center Complex and Batangas Manila 1 Natural Gas Pipeline

AQUINO'S EDGE. The approval of the PPP deals comes months after Aquino trumpeted in his last State of the Nation Address an increased number of such PPP deals as his edge over his predecessors

Malampaya kicks off gas production from new platform

Oct 05, 2015 - 8:35 PM

The first Filipino designed and built offshore platform will help maintain the level of gas production to fulfill existing gas sales agreements

Gas well found in Isabela

Jul 03, 2015 - 2:45 PM

UPDATED An energy official says it is too early to determine if the discovery is commercially viable

Malampaya contractors, not DOE, should appeal COA ruling

May 11, 2015 - 2:28 PM

Energy Secretary Carlos Jericho Petilla also says that if state auditors will order his department to collect the P53 14B taxes from the contractors the agency has no choice but to comply

Malampaya contractor seeks DOE guidance over COA ruling

May 08, 2015 - 5:23 PM

Shell Philippines Exploration B V says it will consult with the energy department and co contractor Chevron after the state auditors order them to pay P53 14B in taxes

COA orders Malampaya contractors to pay gov't P53B taxes

May 07, 2015 - 2:57 PM

UPDATED State auditors say there is no provision in the law that provides that the income taxes of the contractors will be part of the government s share in project proceeds

PNOC eyes tie-up with BP to build depot facilities

May 03, 2015 - 11:33 PM

The proposed tie up is one of the measures to help alleviate falling revenues due to low oil prices

8 dead, Pinoy and Austrian missing after ISIS attack in Libya

Mar 07, 2015 - 8:42 AM

An Austrian and a Filipino who worked for a services company are missing after the attack on a Libyan oilfield

UNREST. An empty bullet shell is seen outside the entrance of the al-Ghani oil field, belonging to Libya's Harouge Oil Operations company, near the city of Waddan in the central Al-Jufrah province on March 23, 2013. File photo by Abdullah Doma/AFP

Libya oil depot fire rages, raising fears of major disaster

Jul 28, 2014 - 11:58 PM

A spokesman for the National Oil Company says The firefighters have now left the scene The situation is out of control

FIRE. Black smoke billows from a fuel storage depot, near the airport in Tripoli, Libya on 28 July 2014. Sabri Elmhedwi/EPA

SC asked: Void expired PH-China offshore oil exploration pact

May 29, 2014 - 7:22 PM

Petitioners allege that the JMSU violates the Constitution for not being able to follow a provision limiting who can partner with the government in exploring the country s natural resources

Chevron, Shell are world's leading carbon-emitting companies

Dec 13, 2013 - 2:15 PM

A study lists down the 90 fossil fuel companies responsible for 63 of the world s carbon emissions since the Industrial Revolution

CLIMATE CHAOS. The combustion of fossil fuels like oil, gas and coal by energy companies is largely responsible for climate change

Singapore pledges to pursue companies behind smog

Jun 22, 2013 - 7:32 PM

Singapore announced it would pursue local firms found to be involved in the Indonesia forest fires causing haze in the city state

Malaysian visitors at the Marina Bay Sands promenade wear face masks as haze envelopes Singapore, June 20, 2013. Photo by Rappler/Rupert Ambil

Palm oil companies behind Singapore smog: Greenpeace

Jun 22, 2013 - 12:52 PM

A team has investigated eight companies suspected to be behind the fires in Indonesia

FIGHTING FIRE. Indonesian firefighters and police officers spray water on a burning peatland area in Rokan Hilir, Riau province, Indonesia, 21 June 2013. Photo by Amriyadi Bahar/EPA

Bataan to develop Limay industrial estate

Jun 05, 2013 - 4:37 PM

Bataan governor elect Albert Garcia along with DOE officials are drafting the Implementing Rules and Regulations of Republic Act 10516 expanding the use of an industrial estate in Limay town

NOW OPEN. Bataan governor-elect Albert Garcia talks about Republic Act 10516, expanding the use of an industrial estate in Limay town. Photo by Randy V. Datu

Death toll in Mexico oil firm blast rises to 25: gov't

Feb 01, 2013 - 1:30 PM

3rd UPDATE The interior minister also says 100 people were injured but it was hard to know whether anybody else was trapped

Indonesian court fines palm oil giant for tax evasion

Dec 28, 2012 - 7:59 PM

Indonesia s Supreme Court orders Asian Agri to pay more than 390 million to the state for tax evasion