Hi Edward, Here are the most important news that you need to know. President Ferdinand Marcos Jr. on Monday signed the service contract (SC) renewal agreement allowing the Malampaya gas-to-power project consortium to operate for another 15 years, easing fears of a power crisis caused by the original expiration of the deal in 2024 and the expected depletion by 2027 of the reserves in the field in offshore northwest Palawan. The Senate public services committee on Monday assured the public that it would “thoroughly scrutinize” the operations of the National Grid Corp. of the Philippines (NGCP) after Sen. JV Ejercito moved to pull the plug on China’s role in the country’s power transmission business. CONTRACT EXTENSION President Marcos receives from tycoon Enrique Razon Jr., chair of Prime Infrastructure Capital Inc., a scale model of a rig at Malampaya natural gas field in Palawan province during the signing on Monday of the 15-year extension of the Malampaya service contract. —MALACAÑANG PHOTO The government is spending more on the pensions of its retired police and military personnel than on maintaining its active force, the government’s treasurer told the Senate at a hearing on Monday. It is unfortunate that the first act of the Marcos administration with regard to Freedom of Information was to impose more limitations on documents and government-held information that the public can access. Hi Edward,We'd like to know what you think of this newsletter. Send us your feedback by leaving a message in our suggestion box. |
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Monday, May 15, 2023
Malampaya deal eases power shortage fears
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