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
15 Nov 2021 08:45

LONDON MARKET OPEN: Shell rises on share structure plans; CMC surges

LONDON MARKET OPEN: Shell rises on share structure plans; CMC surges

Read more
15 Nov 2021 08:27

UK welcomes Shell's tax shift to Britain

LONDON, Nov 15 (Reuters) - Britain's business minister has welcomed a decision by Royal Dutch Shell to scrap its dual share system and move its tax residence to the UK, saying it is a vote of confidence in the national economy.Shell said earlier o...

Read more
15 Nov 2021 08:05

LONDON BRIEFING: Royal Dutch Shell to become plain old Shell

LONDON BRIEFING: Royal Dutch Shell to become plain old Shell

Read more
15 Nov 2021 07:45

LONDON MARKET PRE-OPEN: Shell simplifies shares; CMC to mull split

LONDON MARKET PRE-OPEN: Shell simplifies shares; CMC to mull split

Read more
15 Nov 2021 07:21

UPDATE 6-Shell ditches the Dutch, seeks move to London in overhaul

* Shell says new structure to speed up payouts* Dutch court ordered Shell to accelerate energy shift* 'Royal Dutch' to be dropped from name (Adds detail on Shell's current)By Shadia Nasralla and Sachin RavikumarLONDON, Nov 15 (Reuters) - Royal Dutch...

Read more
15 Nov 2021 07:21

UPDATE 7-Shell ditches the Dutch, seeks move to London in overhaul

* Shell says new structure to speed up payouts* Dutch court ordered Shell to accelerate energy shift* 'Royal Dutch' to be dropped from name (Updates with report government again trying to scrap dividend tax)By Shadia Nasralla and Sachin RavikumarLO...

Read more
15 Nov 2021 07:21

UPDATE 5-Shell ditches the Dutch, moves to London in share structure overhaul

* Shell says new structure to speed up payouts* Dutch court ordered Shell to accelerate energy shift* 'Royal Dutch' to be dropped from name (Adds detail on share buyback plans, Brexit context)By Shadia Nasralla and Sachin RavikumarLONDON, Nov 15 (Re...

Read more
15 Nov 2021 07:21

UPDATE 4-Shell ditches the Dutch, moves to London in share structure overhaul

* Shell says new structure to speed up payouts* Dutch court ordered Shell to accelerate energy shift* Analyst says move to boost Shell's buyback ability* 'Royal Dutch' to be dropped from name (Adds comment by shareholder, Dutch government reaction)B...

Read more
15 Nov 2021 07:21

UPDATE 3-Shell to scrap dual listing, shift to London in energy transition

* Shell says new structure to speed up payouts* Dutch court ordered Shell to accelerate energy shift* 'Royal Dutch' to be dropped from name (Adds analyst comment, background)By Shadia Nasralla and Sachin RavikumarLONDON, Nov 15 (Reuters) - Royal Dut...

Read more
15 Nov 2021 07:21

UPDATE 2-Shell to scrap dual share structure, as it battles activist investor

* Third Point called for Shell to be broken up* Shell says its businesses work better together* 'Royal Dutch' to be dropped from name* Shell to shift its tax residence to Britain (Adds details from announcement, background)Nov 15 (Reuters) - Royal D...

Read more
15 Nov 2021 06:13

UPDATE 7-Oil settles mixed on questions over crude supply, demand, strong dollar

(Updates with settlement prices, adds commentary)By Laura SanicolaNEW YORK, Nov 15 (Reuters) - Oil prices settled mixed on Monday as investors wondered whether crude supplies will increase and whether demand will be pressured by the recent surge i...

Read more
15 Nov 2021 06:13

UPDATE 6-Oil prices slide on strong dollar, rising crude supplies

(Adds latest prices, changes dateline to New York)By Laura SanicolaNEW YORK, Nov 15 (Reuters) - Oil prices slipped to a one-week low on Monday on expectations supplies will increase while demand will be pressured by the recent surge in energy cost...

Read more
11 Nov 2021 12:26

LONDON MARKET MIDDAY: Pound falls to near one-year low, lifts FTSE 100

LONDON MARKET MIDDAY: Pound falls to near one-year low, lifts FTSE 100

Read more
11 Nov 2021 08:54

LONDON MARKET OPEN: Auto Trader and Johnson Matthey bookend FTSE 100

LONDON MARKET OPEN: Auto Trader and Johnson Matthey bookend FTSE 100

Read more
10 Nov 2021 17:00

Battery swap startup Ample hits unicorn status with new funding round

By Paul LienertNov 10 (Reuters) - Ample, the San Francisco startup focused on electric vehicle battery swapping, has raised another $50 million, the company said on Wednesday, in a round led by Blackstone.The latest funding comes on the heels of a...

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.