Oil prices seen to spike again next week

admin   •   September 28, 2018   •   2937

 

A price hike on petroleum products will likely strike again next week.

There will be an estimated per liter increase of P 1.00 for  gasoline;P1.34 on diesel and P1.09 for kerosene.

However, the data may possibly change in the coming days.

Department of Energy (DOE) said the price surge is caused by the current tension between the United States and Iran.

“Patuloy pa rin naman ang pagmomonitor ng Department of Energy sa kalakalan sa international market para makita natin na yung nangyayaring adjustment dito or development ay dala lamang ng international development,” said Oil Management Bureau Asst. Director Del Romero.

 

Energy chief Cusi questions NGCP warning on possible low supply during hotter months

Robie de Guzman   •   January 21, 2022

Department of Energy (DOE) Secretary Alfonso Cusi has asked the National Grid Corporation of the Philippines (NGCP) to present the steps it has taken following its warning of possible brownouts during the dry season.

In a statement, Cusi questioned the NGCP’s warning when it should be ensuring adequate power supply to address this “annual occurrence.”

“Increased demand for power during our hotter months, and reduced supply during these same dry months is an annual occurrence, and as System Operator and Grid Operator, the NGCP is very much aware of this cycle,” he said.

“So, what is NGCP doing about it?” he asked.

It can be recalled that on Tuesday, the NGCP issued a warning about the possibility of a thin energy supply during the months of April to June due to increase in demand.

The grid operator also appealed to policymakers to immediately explore demand-side management strategies to alleviate possible power supply issues, especially at or around the time of the national and local elections in May.

Cusi said the DOE is “spearheading efforts to bring the power industry together to work toward a wholistic solution.”

“The NGCP is expected to perform their responsibilities that contribute to the adequacy of supply, and more so this year as we will be holding national elections this summer,” he added.

The Energy chief said the department is “very interested to hear from them about the steps they have taken, or are taking, to address the situation, particularly in preventing the occurrence of a power interruption.”

He also asked the NGCP if it has ensured the following:

  • That all capacities at all power stations are available;
  • That all available capacities are connected;
  • That all congestion issues are addressed;
  • That the Grid Operating Maintenance Program (GOMP) was thoroughly planned;
  • That reserves are contracted from a separate pool of capacity for ancillary services which we can tap in cases of emergency.

“I have already instructed our Power Bureau to look into these matters,” Cusi said.

Oil prices to go up anew this week

Robie de Guzman   •   December 20, 2021

MANILA, Philippines – Local pump prices of petroleum products will increase again this week as announced by oil companies.

In separate advisories, Pilipinas Shell Petroleum Corp. and Seaoil Philippines Inc. said they will adjust the prices per liter of diesel by P0.55, gasoline by P0.55, and kerosene by P0.70.

Cleanfuel and Petro Gazz will also implement the same price changes except for kerosene.

This marks the second straight week of price increases.

The price hike will take effect on Tuesday, December 21.

Other firms have yet to announce similar price changes for the week.

DOE exploring mangrove’s potential in managing carbon dioxide emissions

Robie de Guzman   •   December 2, 2021

 

MANILA, Philippines – The Department of Energy (DOE) on Thursday said it is looking into the potential of mangrove sequestration in managing carbon dioxide (CO2) emissions from coal-fire power plants as part of the Philippines’ commitment to successfully realize the energy transition without sacrificing energy security.

In a statement, the DOE said Energy Secretary Alfonso Cusi has issued a memorandum directing the Energy Policy and Planning Bureau to examine existing studies, or submit its own study on the “possibility of putting up mangroves for CO2 emission reduction from coal-fired power plants”; and seek technical assistance from development partners for such a study.

“The study, if proven, could help the Philippines in fulfilling the CO2 requirements without sacrificing our goal to achieve energy security given our energy-neutral portfolio,” Cusi said in his memo dated November 24.

With the global community racing to find ways to curb the adverse impact of climate change on the planet, the DOE said mangroves continue to gain scientific interest due to their ability to stockpile significant amounts of carbon in their wood and soil, instead of releasing it back into the atmosphere.

“We recognize the need to attain our energy security in a sustainable manner,” Cusi said.

“However, while there still is a percentage of our power needs that is being provided by coal, we should actively explore the potential of out-of-the-box solutions that could reduce the harmful greenhouse gas emissions of coal plants,” he added.

The Philippines has earlier urged the international community to start implementing actions on the fulfillment of the nations’ commitments and obligations to humanity to save the planet from environmental catastrophe.

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