Thai renewables company BCPG looks homeward for $1 billion spending budget
BCPG, the renewable energy spin-off of Thailand's Bangchak Corp. plans to
invest $1 billion over the next five years with 40 percent of that planned
for domestic power projects after years of overseas spending, the company's
president said in an interview on Wednesday.
BCPG previously spent $1 billion over the past two years mainly on
geothermal projects in Indonesia, solar power in Japan and wind generation
in the Philippines. The company's focus will shift to Thailand, with a
particular focus on constructing small, self-contained power grids known as
microgrids.
"Two-thirds of the company's revenue is from overseas projects. It is time
to go home. We spent almost two years outside, so now our focus is more in
Thailand," BCPG's President and Chief Executive Bundit Sapianchai told
Reuters.
To reach its target of owning 1,000 megawatts (MW) of renewable generation
capacity by 2020, BCPG will have to acquire an additional 400 MW of
capacity, he said.
BCPG intends to build 150 MW of the new 400 MW capacity in Thailand,
focusing on biomass and rooftop solar power investments, he said, adding
that the remaining capacity would likely be investments in wind power
projects in the region.
"Regional plays, mergers and acquisitions (M&A) opportunities are still on
but we have slowed down. We are now focused more on greenfield (projects)
rather than M&A," he said.
BCPG plans to use the rooftop solar projects as a way to bring the microgrid
concept to Thailand. The photovoltaic panels on residential and industrial
properties in an area will produce renewable electricity that will then be
sold back to nearby consumers connected via the local power distribution
grid.
"The industry is shifting... It is moving from a centralised generation to a
distributed energy (model) where technology such as the internet of energy
or blockchain will be in place for the distribution," Sapianchai said.
BCPG hopes to have a microgrid project implemented within the year, he said,
declining to provide specific details as it is still being developed.
Still, technical issues surrounding microgrids must be overcome,
particularly around the selling of surplus power from the microgrid to the
larger national power distribution grid.
"We will need to redesign and talk to the government on the regulatory
constraints. (But) it is a win-win. because the government will not have to
pay for a big centralised generator for the country," Sapianchai said.
BCPG still sees renewable energy opportunities overseas in India, but
particularly in China, he said.
"There are some challenges in China, which basically is from the
transmission lines because the grid is jammed... We are keeping a close eye
on China, if this situation improves we will consider going to China."
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://uk.reuters.com/article/thailand-bcpg-renewables-idUKL3N1KI238
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Thursday, July 27, 2017
Indonesia May Return To OPEC But Won't Cut Production
Indonesia May Return To OPEC But Won't Cut Production
Indonesia is open to rejoining OPEC, but only if it can determine its own
production levels, the country's Energy and Mineral Resources Minister
Ignasius Jonan told Reuters in an interview.
"We would have to have a concession for not following cuts from time to
time," Jonan said.
Indonesia, which produces some 800,000 bpd, left OPEC last November, right
after OPEC agreed to curb production to prop up international prices. That
happened less than a year after the cartel's only East Asian member rejoined
its ranks.
Per the agreement, OPEC had asked Indonesia to cut 37,000 bpd from its daily
output, which, Jonan said at the time, the country would not do. What he
agreed to was a 5,000-bpd cut that was stipulated in the 2017 budget.
Indonesia is a net importer of crude oil, and a massive one: it imports
twice what it produces, as local fields near depletion and demand grows.
Current prices are comfortable for net importers, and Indonesia is no
exception, especially in the context of an investment program announced
earlier this year that should boost its local production.
The US$200-billion investment plan was announced in late April and will
involve tendering 14 untapped oil and gas blocks in hopes that foreign
players will show an interest in developing them. To sweeten the offer,
Jakarta has offered potential bidders tax-free imports of equipment and
technology.
The energy minister's current visit to the U.S. is part of an international
tour aimed at promoting the program to investors including Exxon, Chevron,
and ConocoPhillips.
At the same time, the state-owned energy major, Pertamina, is expanding its
international presence, with a focus on Iran and Russia. The company is
already present in Algeria, Iraq, Tanzania, and Nigeria. Its international
oil and condensate production capacity is 150,000 boepd, while domestic
production is around 308,000 bpd.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://oilprice.com/Energy/Crude-Oil/Indonesia-May-Return-To-OPEC-But-Wont-C
ut-Production.html
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Indonesia is open to rejoining OPEC, but only if it can determine its own
production levels, the country's Energy and Mineral Resources Minister
Ignasius Jonan told Reuters in an interview.
"We would have to have a concession for not following cuts from time to
time," Jonan said.
Indonesia, which produces some 800,000 bpd, left OPEC last November, right
after OPEC agreed to curb production to prop up international prices. That
happened less than a year after the cartel's only East Asian member rejoined
its ranks.
Per the agreement, OPEC had asked Indonesia to cut 37,000 bpd from its daily
output, which, Jonan said at the time, the country would not do. What he
agreed to was a 5,000-bpd cut that was stipulated in the 2017 budget.
Indonesia is a net importer of crude oil, and a massive one: it imports
twice what it produces, as local fields near depletion and demand grows.
Current prices are comfortable for net importers, and Indonesia is no
exception, especially in the context of an investment program announced
earlier this year that should boost its local production.
The US$200-billion investment plan was announced in late April and will
involve tendering 14 untapped oil and gas blocks in hopes that foreign
players will show an interest in developing them. To sweeten the offer,
Jakarta has offered potential bidders tax-free imports of equipment and
technology.
The energy minister's current visit to the U.S. is part of an international
tour aimed at promoting the program to investors including Exxon, Chevron,
and ConocoPhillips.
At the same time, the state-owned energy major, Pertamina, is expanding its
international presence, with a focus on Iran and Russia. The company is
already present in Algeria, Iraq, Tanzania, and Nigeria. Its international
oil and condensate production capacity is 150,000 boepd, while domestic
production is around 308,000 bpd.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://oilprice.com/Energy/Crude-Oil/Indonesia-May-Return-To-OPEC-But-Wont-C
ut-Production.html
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Malaysia: Borneo power grid close to reality
Malaysia: Borneo power grid close to reality
The Borneo Grid is a step closer towards becoming a reality with the
commissioning of the 275kV interconnection linking Mambong in Sarawak and
Bengkayang in West Kalimantan in January 2016.
This was highlighted at the 5th BIMP EAGA (Brunei, Indonesia, Malaysia and
Philippines East Asean Growth Area) meeting for the Power and Energy
Infrastructure Cluster (PEIC) here yesterday.
"Congratulations to all involved in the implementation of our first
BIMP-EAGA interconnection project.
"Driven by private entities Sarawak Energy Berhad and PT PLN (Persero) and
with the strong support and backing of both governments, this is the first
power interconnection between the two member countries of BIMP-EAGA," said
Minister for Utilities Sarawak Dato Sri Dr Stephen Rundi Utom in his keynote
address.
Recognised as a flagship project under BIMP-EAGA, the interconnection
provides for the transmission and sale of electricity between the two
states.
He said it builds the foundation for the realisation of the Borneo Grid
which can potentially be the catalyst for the expansion of socio economic
activities for both sides.
Dr Rundi believed it could also initiate harmonisation of the policy
environment and contribute towards materialising the greater Asean power
grid masterplan.
"With this, we can chart the future plans on how we can work together in
other areas for the mutual benefit of Sarawak and West Kalimantan, not just
for power export activities but also in the telecommunications sector as
well as the exchange of knowledge in similar challenges such as rural
electricity," Rundi added.
The successful pioneering of Sarawak-West Kalimantan interconnection he said
had established and implemented a power trading regime and provided the
model for future power grid interconnection.
Group chief executive officer of Sarawak Energy Sharbini Suhaili said since
the interconnection, Kalimantan Barat has displaced between 50MW to 130MW of
diesel power with electricity from Sarawak.
"We believe that this translates into cost savings as well as lower carbon
emissions for PLN and Kalbar, whom are our first export customer," he said.
He said about 75 per cent of Sarawak's energy are sourced from renewable
hydropower with the remaining 25 per cent from indigenous coal and gas
sources.
"Interconnection projects are widely implemented in developed countries to
enhance reliability for secured energy supply for most critical load system
and are widely regarded as beneficial to both parties.
"However, this can only be realised with the spirit of cooperation. The
challenges in the implementation of this project such as the different
electrical standards were resolved with the strong support and cooperation
from our PLN counterparts in West Kalimantan," Sharbini said.
He said this expands opportunities for Sarawak Energy on its journey towards
becoming a regional power hub for Asean.
"Currently Sarawak Energy is maturing discussion for interconnections with
our neighbours Sabah and Brunei Darussalam," Sharbini added.
PLN general manager Bima Putrajaya acknowledged that interconnection project
had improved the economic sectors in West Kalimantan.
"Since the implementation of this project, we are able to provide sufficient
power and has enabled the other sectors that require electricity to complete
their works within the time frame," Bima said, adding that PLN consumers are
benefiting from this collaboration.
He said this project has led to economic improvement in various sectors
especially those that relied on electricity power.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://www.theborneopost.com/2017/07/27/borneo-power-grid-close-to-reality-d
r-rundi/
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
The Borneo Grid is a step closer towards becoming a reality with the
commissioning of the 275kV interconnection linking Mambong in Sarawak and
Bengkayang in West Kalimantan in January 2016.
This was highlighted at the 5th BIMP EAGA (Brunei, Indonesia, Malaysia and
Philippines East Asean Growth Area) meeting for the Power and Energy
Infrastructure Cluster (PEIC) here yesterday.
"Congratulations to all involved in the implementation of our first
BIMP-EAGA interconnection project.
"Driven by private entities Sarawak Energy Berhad and PT PLN (Persero) and
with the strong support and backing of both governments, this is the first
power interconnection between the two member countries of BIMP-EAGA," said
Minister for Utilities Sarawak Dato Sri Dr Stephen Rundi Utom in his keynote
address.
Recognised as a flagship project under BIMP-EAGA, the interconnection
provides for the transmission and sale of electricity between the two
states.
He said it builds the foundation for the realisation of the Borneo Grid
which can potentially be the catalyst for the expansion of socio economic
activities for both sides.
Dr Rundi believed it could also initiate harmonisation of the policy
environment and contribute towards materialising the greater Asean power
grid masterplan.
"With this, we can chart the future plans on how we can work together in
other areas for the mutual benefit of Sarawak and West Kalimantan, not just
for power export activities but also in the telecommunications sector as
well as the exchange of knowledge in similar challenges such as rural
electricity," Rundi added.
The successful pioneering of Sarawak-West Kalimantan interconnection he said
had established and implemented a power trading regime and provided the
model for future power grid interconnection.
Group chief executive officer of Sarawak Energy Sharbini Suhaili said since
the interconnection, Kalimantan Barat has displaced between 50MW to 130MW of
diesel power with electricity from Sarawak.
"We believe that this translates into cost savings as well as lower carbon
emissions for PLN and Kalbar, whom are our first export customer," he said.
He said about 75 per cent of Sarawak's energy are sourced from renewable
hydropower with the remaining 25 per cent from indigenous coal and gas
sources.
"Interconnection projects are widely implemented in developed countries to
enhance reliability for secured energy supply for most critical load system
and are widely regarded as beneficial to both parties.
"However, this can only be realised with the spirit of cooperation. The
challenges in the implementation of this project such as the different
electrical standards were resolved with the strong support and cooperation
from our PLN counterparts in West Kalimantan," Sharbini said.
He said this expands opportunities for Sarawak Energy on its journey towards
becoming a regional power hub for Asean.
"Currently Sarawak Energy is maturing discussion for interconnections with
our neighbours Sabah and Brunei Darussalam," Sharbini added.
PLN general manager Bima Putrajaya acknowledged that interconnection project
had improved the economic sectors in West Kalimantan.
"Since the implementation of this project, we are able to provide sufficient
power and has enabled the other sectors that require electricity to complete
their works within the time frame," Bima said, adding that PLN consumers are
benefiting from this collaboration.
He said this project has led to economic improvement in various sectors
especially those that relied on electricity power.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://www.theborneopost.com/2017/07/27/borneo-power-grid-close-to-reality-d
r-rundi/
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Itochu wins Indonesian coal-fired power plant project
Itochu wins Indonesian coal-fired power plant project
Itochu will build two coal-fired power plants in Indonesia for about 45
billion yen ($404 million), as the Japanese trading house moves to
capitalize on growing electricity demand in emerging economies.
Indonesian utility PLN awarded the work to a consortium including Itochu and
a South Korean company. The two plants, with a total capacity of 200
megawatts, will be constructed on the grounds of existing power facilities
in the country's northern island of Kalimantan. Fuji Electric will provide
steam turbine generators, while IHI delivers equipment such as boilers.
Plant operations are scheduled to start in 2020.
Itochu's last coal-fired project was in Turkey six years ago. The company
manages such sites in the U.S., Europe and Asia, with output totaling about
3,300MW. But its operations remain small compared with peers such as
Marubeni, Mitsui & Co. and Sumitomo Corp. Itochu hopes to bolster its power
generation business by building more plants.
Southeast Asia's electricity demand is estimated to almost double from 2014
to reach 1.45 trillion kilowatt-hours in 2030, the International Energy
Agency says.
Companies need not only technical know-how, but also expertise in risk
management for infrastructure projects in emerging nations. Construction
delays often occur in such large-scale projects due to challenges operating
in unfamiliar business environments.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
https://asia.nikkei.com/Business/Deals/Itochu-wins-Indonesian-coal-fired-pow
er-plant-project
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Itochu will build two coal-fired power plants in Indonesia for about 45
billion yen ($404 million), as the Japanese trading house moves to
capitalize on growing electricity demand in emerging economies.
Indonesian utility PLN awarded the work to a consortium including Itochu and
a South Korean company. The two plants, with a total capacity of 200
megawatts, will be constructed on the grounds of existing power facilities
in the country's northern island of Kalimantan. Fuji Electric will provide
steam turbine generators, while IHI delivers equipment such as boilers.
Plant operations are scheduled to start in 2020.
Itochu's last coal-fired project was in Turkey six years ago. The company
manages such sites in the U.S., Europe and Asia, with output totaling about
3,300MW. But its operations remain small compared with peers such as
Marubeni, Mitsui & Co. and Sumitomo Corp. Itochu hopes to bolster its power
generation business by building more plants.
Southeast Asia's electricity demand is estimated to almost double from 2014
to reach 1.45 trillion kilowatt-hours in 2030, the International Energy
Agency says.
Companies need not only technical know-how, but also expertise in risk
management for infrastructure projects in emerging nations. Construction
delays often occur in such large-scale projects due to challenges operating
in unfamiliar business environments.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
https://asia.nikkei.com/Business/Deals/Itochu-wins-Indonesian-coal-fired-pow
er-plant-project
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Indonesia minister says to offer East Natuna gas field to Inpex
Indonesia minister says to offer East Natuna gas field to Inpex
Indonesia intends to offer the East Natuna natural gas block to Japan's
Inpex Corp to develop, Coordinating Minister for Maritime Affairs Luhut
Pandjaitan said on Wednesday.
State energy firm Pertamina had expected to sign a production sharing
contract with ExxonMobil and Thailand's PTTEP for the project last year, but
ExxonMobil said last week it was ending discussions.
"For East Natuna, Exxon and PTT has left (the negotiation), now we want to
try offering to Inpex," Pandjaitan told reporters.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://uk.reuters.com/article/indonesia-energy-inpex-c-idUKJ9N1BE01W
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Indonesia intends to offer the East Natuna natural gas block to Japan's
Inpex Corp to develop, Coordinating Minister for Maritime Affairs Luhut
Pandjaitan said on Wednesday.
State energy firm Pertamina had expected to sign a production sharing
contract with ExxonMobil and Thailand's PTTEP for the project last year, but
ExxonMobil said last week it was ending discussions.
"For East Natuna, Exxon and PTT has left (the negotiation), now we want to
try offering to Inpex," Pandjaitan told reporters.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://uk.reuters.com/article/indonesia-energy-inpex-c-idUKJ9N1BE01W
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Malaysians need to brace for possible electricity surcharge
Malaysians need to brace for possible electricity surcharge
The Energy Commission (EC), Malaysia's regulatory body for the electricity
supply industry, said the government is concerned about tariff increases.
However, he said, consumers needed to be mindful that electricity rebates
will not continue forever and they must brace for possible imposition of a
surcharge.
Acting chief executive officer and senior director, Electricity Industry
Development and Market Regulation, Ir Azhar Omar, said the helping hand
would not last long and Malaysians needed to be prepared for the inevitable
and use electricity prudently.
"We should be imposing surcharges but out of concern for the well-being of
the people, the government is still using reserves to absorb the increase in
costs because funds available may not be able to cater to future needs.
People need to be prepared," he told Bernama Radio in an interview recently.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://www.theborneopost.com/2017/07/27/malaysians-need-to-brace-for-possibl
e-electricity-surcharge/
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
The Energy Commission (EC), Malaysia's regulatory body for the electricity
supply industry, said the government is concerned about tariff increases.
However, he said, consumers needed to be mindful that electricity rebates
will not continue forever and they must brace for possible imposition of a
surcharge.
Acting chief executive officer and senior director, Electricity Industry
Development and Market Regulation, Ir Azhar Omar, said the helping hand
would not last long and Malaysians needed to be prepared for the inevitable
and use electricity prudently.
"We should be imposing surcharges but out of concern for the well-being of
the people, the government is still using reserves to absorb the increase in
costs because funds available may not be able to cater to future needs.
People need to be prepared," he told Bernama Radio in an interview recently.
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://www.theborneopost.com/2017/07/27/malaysians-need-to-brace-for-possibl
e-electricity-surcharge/
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
Philippines: PetroEnergy sees 33% more profit on shift to renewables
Philippines: PetroEnergy sees 33% more profit on shift to renewables
PetroEnergy Resources Corp. (PERC) expects its profit to grow by about 33
percent this year on higher electricity sales as it shifts from oil and gas
exploration to renewable energy production, company officials said
yesterday.
The company's performance from January to June has provided a positive
glimpse into the company's full-year results, PetroEnergy president Milagros
Reyes said in her report during their stockholders' meeting yesterday.
"Our forecast is upbeat for 2017 since our first-half financial performance
already show a marked improvement in revenues and net income compared to the
same period last year. If this efficiency is maintained, we project a 33
percent increase in our net income at the end of this year," she said.
PetroEnergy closed 2016 with $5.9 million in net income, a 27 percent jump
from the previous year's $4.6 million.
"In 2016, we saw our venture into the renewable power generation begin to
bear fruit," Reyes said.
She said the company has booked a 179 percent increase in net income from
$2.34 million to $6.55 million in the first- half of 2017. Revenues,
meanwhile, grew 14 percent from $18.4 million to $16.1 million.
The first-half results were on the back of higher sales from its solar, wind
and geothermal assets, PetroEnergy vice president Francisco Delfin Jr. said
in an interview.
"Our wind project was able to produce higher capacity in January, February
and March compared with the remaining months," he said.
"In the second quarter, it is the summer period in the Philippines. We
normally experience a dip in generation of our wind. However, that was
compensated by higher production from our solar project. Our geothermal
plant, on the other hand, is baseload so it's constant," he added.
Moving forward, the full-year projected growth will still be driven largely
by electricity sales from RE operations, Delfin said.
Apart from electricity sales, PetroEnergy AVP for finance Carlota Viray said
better oil prices will also help augment the company's net earnings.
"We are seeing recovery in oil prices. Currently it's around $50 per barrel
compared with the previous years at $35 per barrel," she said.
PetroEnergy's renewable energy generation business comprises 85 percent of
total revenues while oil and gas component covers the remaining 15 percent.
Maibarara Geothermal power plant (MGPP), located in Sto. Tomas, Batangas, is
65 percent owned by PERC through its wholly-owned subsidiary PetroGreen
Energy Corp. (PEGC) in joint venture firm Maibarara Geothermal Inc. (MGI).
Through its subsidiary PEGC, it owns 56 percent of PetroSolar, which owns
and operates a 50-megawatt (MW) solar power plant in Tarlac.
It also partly owns the 36-MW Nabas-1 Wind Power Project (NWPP) under
PetroWind Energy Inc. (PWEI). Its shareholders include PGEC (40 percent),
Thai firm BCPG Public Co. Ltd (40 percent) and EEI Power Corp. (20 percent).
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://www.philstar.com/business/2017/07/27/1721761/petroenergy-sees-33-more
-profit-shift-renewables
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
PetroEnergy Resources Corp. (PERC) expects its profit to grow by about 33
percent this year on higher electricity sales as it shifts from oil and gas
exploration to renewable energy production, company officials said
yesterday.
The company's performance from January to June has provided a positive
glimpse into the company's full-year results, PetroEnergy president Milagros
Reyes said in her report during their stockholders' meeting yesterday.
"Our forecast is upbeat for 2017 since our first-half financial performance
already show a marked improvement in revenues and net income compared to the
same period last year. If this efficiency is maintained, we project a 33
percent increase in our net income at the end of this year," she said.
PetroEnergy closed 2016 with $5.9 million in net income, a 27 percent jump
from the previous year's $4.6 million.
"In 2016, we saw our venture into the renewable power generation begin to
bear fruit," Reyes said.
She said the company has booked a 179 percent increase in net income from
$2.34 million to $6.55 million in the first- half of 2017. Revenues,
meanwhile, grew 14 percent from $18.4 million to $16.1 million.
The first-half results were on the back of higher sales from its solar, wind
and geothermal assets, PetroEnergy vice president Francisco Delfin Jr. said
in an interview.
"Our wind project was able to produce higher capacity in January, February
and March compared with the remaining months," he said.
"In the second quarter, it is the summer period in the Philippines. We
normally experience a dip in generation of our wind. However, that was
compensated by higher production from our solar project. Our geothermal
plant, on the other hand, is baseload so it's constant," he added.
Moving forward, the full-year projected growth will still be driven largely
by electricity sales from RE operations, Delfin said.
Apart from electricity sales, PetroEnergy AVP for finance Carlota Viray said
better oil prices will also help augment the company's net earnings.
"We are seeing recovery in oil prices. Currently it's around $50 per barrel
compared with the previous years at $35 per barrel," she said.
PetroEnergy's renewable energy generation business comprises 85 percent of
total revenues while oil and gas component covers the remaining 15 percent.
Maibarara Geothermal power plant (MGPP), located in Sto. Tomas, Batangas, is
65 percent owned by PERC through its wholly-owned subsidiary PetroGreen
Energy Corp. (PEGC) in joint venture firm Maibarara Geothermal Inc. (MGI).
Through its subsidiary PEGC, it owns 56 percent of PetroSolar, which owns
and operates a 50-megawatt (MW) solar power plant in Tarlac.
It also partly owns the 36-MW Nabas-1 Wind Power Project (NWPP) under
PetroWind Energy Inc. (PWEI). Its shareholders include PGEC (40 percent),
Thai firm BCPG Public Co. Ltd (40 percent) and EEI Power Corp. (20 percent).
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
Link to Original Article:
http://www.philstar.com/business/2017/07/27/1721761/petroenergy-sees-33-more
-profit-shift-renewables
--- --- --- --- --- --- --- --- --- --- --- --- --- --- ---
John Diecker
APT Consulting Group Co., Ltd.
www.aptthailand.com
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