Less Ads, More Data, More Tools Register for FREE

Pin to quick picksRDSA.L Share News (RDSA)

  • There is currently no data for RDSA

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Philippines says Shell-operated Malampaya resumes gas deliveries

Wed, 15th Apr 2015 06:47

MANILA, April 15 (Reuters) - The Philippines said that alocal unit of Shell had resumed natural gas deliveriesfrom the country's Malampaya field to three major power plantsafter a month-long shutdown, but energy supply on the mainisland of Luzon remains tight.

The Department of Energy (DOE) on Wednesday urgedelectricity users to conserve energy supplies after the Luzongrid recorded its highest daily demand so far this year at 8,271megawatts (MW), with appetite likely to rise further next month.

Southeast Asia fastest-growing economy faces an electricityshortfall in Luzon because of delayed power projects, which mayhurt a revitalised manufacturing sector and booming call centreindustries.

Some 16,400 MW of new supply is planned in the country overthe next five years, but some projects have been held up byenvironmental opposition to coal-fired stations, while othersare waiting for customers to commit to long-term supply deals.

Malampaya's maintenance shutdown, which started on March 15,had added to fears over interruptions to electricity supply,prompting President Benigno Aquino to seek special powers fromCongress as early as September last year to avert brownouts.Lawmakers have yet to grant his request.

Shell Philippines Exploration BV, operator of Malampaya, hasa 45-percent stake in the gas-to-power project that fuels FirstGen Corp's 1,500 MW San Lorenzo and Santa Rita powerplants, and the 1,200 MW Ilijan plant operated by San MiguelCorp's unit, SMC Global Power Holdings Corp.

Chevron holds 45 percent of the project, while state-ownedPhilippine National Oil Co has 10 percent.

The country's power demand usually starts to rise as theweather warms in March, and then peaks in May, the DOE said in astatement. Air conditioners are typically cranked up in thesummer.

The government has called on companies with standbydiesel-fuelled power generators to help avert brownouts, askingthem to participate in the so-called Interruptible LoadProgramme (ILP).

Under the ILP, participants with loads of at least 1 MW willrun their generator sets, if needed, instead of drawing powerfrom the grid.

As of April 10, 242 companies with a combined load of 910.1MW had signed up, the DOE said, including big power users likeSM Prime Holdings Corp and Ayala Land Inc,the country's biggest mall operator and condominium builderrespectively. (Reporting by Erik dela Cruz; Editing by Joseph Radford)

More News
27 Oct 2022 07:30

Shell announces $4bn share buyback as Q3 profits beat expectations

(Sharecast News) - Oil giant Shell announced a $4bn share buyback on Thursday as it posted better-than-expected third-quarter profits.

Read more
21 Apr 2022 11:53

Shell turning to China to offload Russian business - report

(Sharecast News) - Shell is reportedly looking to China as it looks to offload its Russian business.

Read more
15 Feb 2022 15:54

Shell preparing to sell North Sea gas fields - report

(Sharecast News) - Shell is reportedly preparing to launch the sale of its stakes in two clusters of gas fields in the southern British North Sea, part of an ongoing retreat of long-time producers from the ageing basin.

Read more
7 Feb 2022 10:52

Berenberg nudges up target price on Shell

(Sharecast News) - Analysts at Berenberg slightly raised their target price on oil and gas giant Shell from 2,350.0p to 2,375.0p on Monday, stating the firm was "on a roll".

Read more
31 Jan 2022 10:53

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

TOP NEWS SUMMARY: Shell and BHP share unifications go into effect

Read more
31 Jan 2022 07:48

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

LONDON MARKET PRE-OPEN: WeBuyAnyCar owner buys into Lookers

Read more
28 Jan 2022 11:25

Shell's renewables boss steps down after less than two years

* Elisabeth Brinton leaves for new role, she says* Shell creates two new renewables leadership roles* Thomas Brostrøm to head renewables generation* Steve Hill to head energy marketingBy Ron BoussoLONDON, Jan 28 (Reuters) - Shell's head of renewable...

Read more
27 Jan 2022 16:14

UK earnings, trading statements calendar - next 7 days

UK earnings, trading statements calendar - next 7 days

Read more
26 Jan 2022 17:02

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

LONDON MARKET CLOSE: FTSE 100 soars ahead of Fed as oil, travel gain

Read more
26 Jan 2022 14:36

China's Sinopec awards fewer cargoes in recent LNG tender

By Chen Aizhu and Marwa RashadSINGAPORE/LONDON, Jan 26 (Reuters) - Unipec, the oil and gas trading arm of China's Sinopec Corp has awarded fewer-than-planned cargoes in a recent tender to sell up to 45 cargoes of liquefied natural gas for 2022 del...

Read more
26 Jan 2022 12:16

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

LONDON MARKET MIDDAY: Markets brace for aggressive US Fed tightening

Read more
26 Jan 2022 09:33

UPDATE 2-Commodity, bank stocks lead FTSE 100 higher; Playtech drops

* Oil and banking shares top gainers* Wizz Air reports Q3 loss, expects improvement in spring* FTSE 100 up 1.3%, FTSE 250 add 1.1% (Updates to market close)By Shashank Nayar and Ambar WarrickJan 26 (Reuters) - London's FTSE 100 rose on Wednesday wit...

Read more
26 Jan 2022 09:12

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

LONDON MARKET OPEN: Fresnillo drops on 2022 production warning

Read more
25 Jan 2022 21:13

UPDATE 1-U.S. awards 13 mln barrel exchange of crude from strategic reserve

(Adds details on sale, background on 50 million barrel SPR plan)WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to ...

Read more
25 Jan 2022 20:10

U.S. awards exchange of 13 mln barrels of crude from strategic reserve

WASHINGTON, Jan 25 (Reuters) - The U.S. Department of Energy said on Tuesday it had approved an exchange of 13.4 million barrels of crude oil from the Strategic Petroleum Reserve to seven companies.The companies are Shell Trading US, 4.2 million ...

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.