Archive for the ‘Petron Watch’ Category
Tuesday, June 17th, 2008
UNLESS beneficial and advantageous to the public and stakeholders and at a premium, the government is not keen on taking advantage of the possible tender offer by London-based Ashmore group’s SEA Refinery Holdings or selling its stake in Petron Corp.
“Ashmore bought the 40 percent of the Petron shares held by ...
Posted in Governance, Petron Watch | No Comments »
Tuesday, June 17th, 2008
THE Filipino company Herma Shipping and Transport Corp. will follow up its successful launch of the “first Filipino-made international class tanker” M/T Matikas with three more such double-hulled vessels and is now in talks with several oil companies for the planned tankers. Matikas is now on long-term charter with Petron.
Herminio ...
Posted in Petron Watch | No Comments »
Tuesday, May 13th, 2008
INVOKING fiscal constraints and a policy that negates reverse privatization, state-run Philippine National Oil Co. (PNOC) has waived its right to purchase the 40-percent stake of Aramco Overseas Co. B.V. (AOC) in local refiner Petron Corp., giving instead the green light for Aramco to sell its shares to London-based Ashmore ...
Posted in Petron Watch | No Comments »
Tuesday, April 22nd, 2008
WHEN there was a great clamor from the public, including the Senate, for transparency in oil pricing, the Department of Energy committed itself to examine the books of oil companies to find out if the increases in domestic prices of petroleum products were based on increases in the prices of ...
Posted in Petron Watch | No Comments »
Wednesday, April 16th, 2008
THE REPORT about the government’s predisposition to unload its strategic 40-percent share in Petron Corp. is giving credence to the renewed buzz that the Alcantara family is out to seek control of the oil firm. For the Alcantaras, the prospect of adding Petron to their growing conglomerate is a strategic ...
Posted in Petron Watch | No Comments »
Monday, March 24th, 2008
THE GOVERNENT is considering seeking the services of an independent financial adviser to help it decide what the best move should be with regard to the offer of Ashmore Group's SEA Refinery Holdings to buy Aramco Overseas Co.'s 40-percent stake in Petron Corp.
"We'll have to undertake share valuation. That takes ...
Posted in Petron Watch | No Comments »
Saturday, March 15th, 2008
STATE-OWNED Philippine National Oil Co. (PNOC) said Friday Saudi Aramco has expressed a desire to sell its entire 40 percent stake in oil refiner Petron Corp.
PNOC, a major stockholder of Petron in behalf of the government, made the disclosure after Petron announced that London-listed Ashmore Group has offered to buy ...
Posted in Petron Watch | No Comments »
Thursday, March 13th, 2008
THE MARITIME Industry Authority (MARINA) will not extend the April 30 deadline for black oil tanker operators to convert or replace their vessels with double-hulled tankers, its administrator said.
“There were reports recently that the deadline was extended from early April to April 30,” MARINA Administrator Vic Suazo said in an ...
Posted in Governance, Petron Watch, Rehabilitation | No Comments »
Friday, March 7th, 2008
THE PHILIPPINES' maritime regulator has extended the deadline to ban single-hull oil tankers from its waters to April 30 from April 1 to give charterers more time to switch to vessels fitted with two hulls.
The Maritime Industry Authority has issued a circular prohibiting single-hull ships from calling at Philippine ports ...
Posted in Environment, Governance, Petron Watch | No Comments »
Friday, February 15th, 2008
THE MARITIME Industry Authority (MARINA) has warned that it would cancel the licenses of oil tankers or even remove them from the Philippine registry if they fail to comply with the requirement of using double hulls by April 30.
MARINA issued the warning as part of the Philippines' commitment under the ...
Posted in Environment, Governance, Petron Watch | No Comments »
