The Basic Energy Corp. (BSC) is seeking government backing to roll out electric buses in every province across the country within the next five years. In a disclosure to the Philippine Stock Exchange, the BSC announced plans to get e-transport franchises for all 82 provinces with support from the Department of Transportation (DOTr) and the…
Read MoreMANILA -After winning a service contract from the Department of Energy (DOE), listed Basic Energy Corp. (BEC) will develop a wind project in Batangas province in the next five years in a goal to boost the Luzon grid’s generation capacity by up to 168 megawatts (MW). In a stock exchange disclosure on Friday, BEC said…
Read MoreMANILA – Basic Energy Corp said on Friday the Department of Energy approved its Wind Energy Service Contract (WESC) for its Balayan Nearshore Wind Power Project. The new WESC was approved just weeks after the DOE approved the contract for its Panay Onshore Wind Power Project, Basic Energy said in a disclosure to the stock…
Read MoreBasic Energy Corp. (BEC) will proceed to expand its renewable energy (RE) portfolio following the award of a wind energy service contract (WESC) from the Department of Energy (DOE). “Basic Energy officially adds another Wind Power Project to its pipeline of Renewable Energy [RE] projects as the Department of Energy [DOE] approved the Wind Energy…
Read MoreListed firm Basic Energy Corporation is eyeing to develop a 155-megawatt onshore wind farm power facility that will straddle sites in San Joaquin and Miag-ao in Iloilo; and also at Hamtic in Antique. The company apprised the Philippine Stock Exchange (PSE) that it just recently secured the approval of the Department of Energy (DOE) on…
Read MoreIn a bid to support the growing number of electric vehicles (EVs) in the Philippines, Basic Energy Corporation (BEC) and its partner, Ecology Energy Corp. (EEC), have launched the “Basic Recharge Station” at the EcoOil Station on EDSA Southbound. This new station provides much-needed access to EV charging facilities to the motoring public, who are…
Read MoreBasic Energy Corp.’s “Basic Recharge” station for electric vehicles (EVs) opened last week at the EcoOil station along Edsa southbound. It offers fast and rapid charging and a variety of connectors to service different EV models available in the Philippines. MANILA -Basic Energy Corp. has opened an electric vehicle (EV) charging station along one of…
Read MoreMANILA, Philippines — Basic Energy Corp. has partnered with Ecology Energy Corp. (EEC), owner of the EcoOil fuel stations, to launch its electric vehicle (EV) charging station. In a disclosure to the Philippine Stock Exchange, Basic Energy said the first Basic Recharge Station is located at the EcoOil Station along EDSA Southbound in Mandaluyong City….
Read MoreBasic Energy Corp. said Friday it launched an electric vehicle charging station at the EcoOil Station along EDSA Southbound. BEC said wholly-owned subsidiary Basic Energy Renewables Corp. teamed up with Ecology Energy Corp., owner of the EcoOil fuel stations for the “Basic Recharge Station.” The EV charging station will service EV motorists who now own…
Read MoreLISTED firm Basic Energy Corp. said its unit had signed agreements with several entities interested in its 50-megawatt (MW) Mabini wind project in Batangas. In a regulatory filing on Monday, Basic Energy said its subsidiary Mabini Energy Corp. signed confidentiality agreements with several parties as potential partners for the project. The Mabini wind power project…
Read MoreBasic Energy Corp. said Monday wholly-owned subsidiary Mabini Energy Corp. signed confidentiality agreements with several interested parties in the development of the 50-megawatt Mabini wind project in Batangas province. The Mabini wind energy project covers about 4,860 hectares in the Mabini Peninsula, with an estimated generating capacity of at least 50 MW. BEC said in…
Read MoreBasic Energy Corporation (BEC), through its subsidiary Mabini Energy Corporation (MEC), is looking to secure a strategic partner for the development of its 50-megawatt (MW) Mabini wind farm project in Batangas. In a disclosure to the Philippine Stock Exchange on Monday, MEC said that it “has signed Confidentiality Agreements with several parties who have shown…
Read MoreListed firm Basic Energy Corporation (BEC), via its subsidiary Mabini Energy Corporation (MEC), is eyeing to finalize a deal with chosen strategic partner for the targeted commercial development of its 50-megawatt Mabini wind farm project in Batangas. In a disclosure to the Philippine Stock Exchange (PSE), the company indicated that it “signed confidentiality agreements with…
Read MoreBASIC Energy Corp. (BEC) has approved Mabini Energy Corp.’s (MEC) for additional funding to purchase and install a light detection and ranging (Lidar) system in its service contract area. Lidar is a remote sensing method that uses a pulsed laser to measure variable distances. MEC, through its management team, presented the request for P10.818 million…
Read MoreMANILA, Philippines — Basic Energy is undertaking a reorganization of its top executives to propel its push toward attaining the company’s growth targets. Basic Energy said its board has appointed president and CEO Oscar de Venecia Jr. as one of the vice chairmen of the board. De Venecia will then turn over his position…
Read MoreBasic Energy Corp. announced Friday it is undertaking reorganization to fast-track the development of renewable energy projects. Basic said in a disclosure to the stock exchange its board appointed Oscar de Venecia Jr. as one of the vice-chairmen. “With the board’s decision to fast-track and move on with new and various wind and solar…
Read MoreThe board of directors of listed Filipino firm Basic Energy Corporation had given go-signal for budget allocation that will enable the company to deploy additional equipment to fully hat could comprehensively gauge the electricity generation potential of its targeted 50-megawatt wind power installation in Mabini, Batangas. In a disclosure to the Philippine Stock Exchange (PSE),…
Read MoreListed firm Basic Energy Corporation (BSC) has indicated plans to tap third party consultants that will aid the company in evaluating multiple prospects that it has been eyeing in the wind power development space. In a disclosure to the Philippine Stock Exchange (PSE), the company stipulated it “intends to procure the services of third-party experts…
Read MoreDate: August 31, 2022Time: 3:00 PMVenue: Principal office via remote communication A G E N D A1. Call to Order2. Certification of Due Notice of Meeting and Existence of Quorum3. Approval of Minutes of the Annual Stockholders’ Meeting held onNovember 24, 20214. Presentation of the 2021 Annual Report5. Presentation of…
Read MoreBasic Energy Corp. (BEC) of the Villavicencio-led Filoil group is setting aside P71 million for its green transport and wind project in Batangas. For the wind project in Mabini, Batangas, BSC allocated an initial budget of around P31 million for the Wind Resource Assessment Campaign, permits and licenses and ancillary activities, such as grid connection…
Read MoreMANILA, Philippines — Listed Basic Energy Corp. (BEC) has named two long-time executives in the energy industry to lead its renewables push through its two subsidiaries. Former Manila Electric Co. (Meralco) president and CEO Oscar Reyes was elected as chairman of subsidiary Basic Renewables Inc. (BRI). “Armed with this vast and diverse management experience and…
Read MoreBasic Energy Corporation will hold its 2021 Annual Stockholders’ Meeting online at 3:00p.m. on November 24, 2021, Wednesday via the Zoom platform. Stockholders who wish to participate through remote communication are requested to check the registration guidelines stated in the notice of the said meeting. Basic Energy Notice of 2021 ASM & Annexes Source: https://mb.com.ph/2021/11/02/basic-energy-corporation-to-hold-annual-stockholders-meeting-online/
Read MoreAnnual Stockholders’ Meeting 2021 Date: November 24, 2021 Time: 3:00 p.m. Venue: via Remote Communication A G E N D A 1. Call to Order2. Certification of Due Notice of Meeting and Existence of Quorum3. Approval of Minutes of the Annual Stockholders’ Meeting held on October 23, 20204. Presentation of the 2020 Annual Report5. Presentation…
Read MoreBASIC Energy Corp. said on Monday that its board of directors had given the go signal to acquire up to a 60% ownership in local oil company Filoil Energy Co., Inc. through an equity investment. “After further presentation… the members of the Board of Directors resolved to approve the proposed equity investment in Filoil Energy…
Read MoreBasic Energy Corp. (BEC) is acquiring up to 60 percent of Filoil Energy Co. Inc. In a disclosure to the stock exchange Monday, the board of Basic Energy has given its go-ahead to proceed with the company’s equity investment in Filoil Energy. “After further presentation to the Board, the members of the Board of Directors…
Read MoreSupplemental Bid Bulletin No. 3 19 Aug 2021
Read MoreSupplemental Bid Bulletin No. 2 08.06.21
Read MoreBEC Auction Procedure Schedule 1 (Bidder Information Sheets) and Schedule 2 (Bid Form)
Read MoreFormer Bureau of Internal Revenue Commissioner Kim Henares, along with an executive of Filoil group . and a top corporate lawyer, has joined the board of of Basic Energy chaired by bilyonaryo Oscar de Venecia. The Basic Energy board revamp came as it signed the sale of a 67 percent stake in the company for…
Read MoreBasic Energy Corp. said Friday it signed an agreement to sell at least 67 percent of its outstanding capital stock to Map 2000 Development Corp. P2.8 billion. “The company executed the subscription agreement with M2DC for the latter’s subscription to 9,827,990,853 primary shares at a total subscription price of P2,800,977,393.11,” the company said in a…
Read MoreReal estate company MAP 2000 Development Corp. (M2DC) has signed an agreement to acquire 67 percent of Basic Energy Corp. (BSP). BSC said in a disclosure to the Philippine Stock Exchange that the agreement allows M2DC to acquire about 9.8 billion of the holding firm’s primary shares. Such shares shall be, pending approval of the…
Read MoreMAP 2000 Development Corp. (M2DC) is acquiring a majority stake in Basic Energy Corp., the energy company led by the De Venecia Group. In its disclosure, a memorandum of agreement was signed between the two companies in which M2DC will buy at least 67 percent of Basic Energy, subject to several conditions. M2DC will acquire…
Read MoreListed Basic Energy Corp. said Monday it signed an agreement with MAP 2000 Development Corp. to acquire at least 67 percent of the outstanding capital stock of the company. Basic Energy said the acquisition would be subject to compliance by the company with the conditions precedent and other representations, warranties and undertakings as stipulated in…
Read MoreBASIC ENERGY Corp. (BSC) is doubling its authorized capital stock to P5 billion from P2.5 billion. In a disclosure to the stock exchange on Monday, the company said its stockholders had approved the increase in its authorized capital stock to P5 billion. The capital stock will comprise 20 billion shares with a par value of…
Read MoreAnnual Stockholders’ Meeting 2020 Date: October 23, 2020 Time: 3:00 p.m. Venue: via Remote Communication Agenda: 1. Call to Order2. Certification of Due Notice of Meeting and Existence of Quorum3. Approval of Minutes of the Annual Stockholders’ Meeting held on October 23, 20194. Presentation of the 2019 Annual Report5. Presentation of the 2019 Audited Consolidated…
Read MoreBASIC Energy Corp. plans to set up a wind farm in Luzon in partnership with a foreign entity, said its top official, who described the proposal to be in the initial stage although a letter of interest has been submitted to the Energy department. “Ang (The) estimation is anywhere from 40 to 50 megawatts (MW),”…
Read MoreAnnual Stockholders’ Meeting 2019 Date: October 23, 2019 Time: 3:00 p.m. Venue: Dusit Thani Hotel, Arnaiz Avenue Makati City Agenda: 1. Call to Order2. Certification of Due Notice and Existence of Quorum3. Approval of minutes of the Annual Stockholders Meeting Held on June 27, 20184. Presentation of the 2018 Annual Report5. Presentation of the 2018…
Read MoreThe Philippine Stock Exchange (PSE) reported that capital raised at the bourse was at a record high of P150.01 billion in the first half of 2018. The amount raised in the first six months was 40.5 percent higher than the P106.74 billion recorded in the same period last year. The capital raising activities from January…
Read MoreBASIC ENERGY Corp. has not given up on its service contracts to explore five areas in the Philippines for their potential capacity for geothermal energy. “We don’t have any intentions of letting go of it [geothermal service contract] because we believe that that’s still the future,” Basic Energy President and Chief Executive Oscar L. de…
Read MoreDe Venecia-led Basic Energy Corp. has sealed a deal to take up a 15 percent interest in two Thailand-based companies which are involved in the construction of a 220-megawatt solar plant in Myanmar. In a statement, Basic Energy said it signed an agreement with Meta Corp. Public Co. Ltd. covering the purchase of shares in…
Read MoreBASIC ENERGY Corp. on Wednesday said it has signed the share purchase agreements to acquire a 15% stake in two Thai companies, which are building a solar power project in Myanmar. “We signed [for] the entry of Basic [Energy] into two EPC (engineering, procurement and construction) companies that are based in Thailand. They’re doing the…
Read MoreDate: June 27, 2018Time: 3:00 p.m.Venue: Manila Golf and Country Club, Harvard Road, Forbes Park, Makati CityRecord Date: June 5, 2018 Agenda: 1. Call to Order2. Certification of Due Notice and Existence of Quorum3. Approval of Minutes of the Annual Stockholders Meeting Held on June 28, 20174. Presentation of the 2017 Annual Report5. Ratification of…
Read MorePhilippine-listed energy developer Basic Energy Corp announced that it will acquire 15 per cent stake in Thai engineering and construction firms Vintage EPC Co Ltd (VEPC) and VTE International Construction Co Ltd (VINTER) in the next two months. In a disclosure to the Philippine Stock Exchange, Basic Energy said, it will purchase 7.5 million shares…
Read MoreDe Venecia-led Basic Energy Corp. is targeting to seal a deal by April to invest in two Thai firms that clinched the contract for a 220-megawatt (MW) solar power plant project in Myanmar. Basic Energy said on Tuesday the share purchase agreement was targeted to be signed within next month and the shareholders’ agreement in…
Read MoreBASIC ENERGY CORP. (BEC) HAS SECURED EQUITY INVESTMENTS IN THE ENGINEERING, PROCUREMENT, AND CONSTRUCTION (EPC) CONTRACTORS FOR A 220-MEGAWATT (MW) SOLAR POWER PROJECT IN MYANMAR. In a disclosure to the Philippine Stock Exchange (PSE), BEC said that its board confirmed the companys 15 percent equity investments in the Vintage EPC Company Limited and VTE International…
Read MoreThe De Venecia-led Basic Energy Corporation has indicated that it will push ahead with its planned 15 percent share purchase in Thai firm Vintage EPC Company Limited and affiliate VTE International Construction Company Limited. The listed firm has noted in its disclosure to the Philippine Stock Exchange (PSE) that “the purchase of the shares is…
Read MoreBasic Energy Corp. yesterday said it had signed an agreement with Vintage Holding Japan Co. Ltd (VHJ) on the possible acquisition of at least 10 percent stake in a 25-megawatt biomass power plant project in Japan. This firms up an undertaking that was announced last October, in which Basic Energy had expressed interest to acquire…
Read MoreDecember 8 (Renewables Now) – Philippine publicly listed holding company Basic Energy Corporation (BEC) plans to acquire a stake of at least 10% in a 25-MW biomass power plant in Japan’s Saga Prefecture. BEC has signed a term sheet for the proposed transaction with Vintage Holding Japan Co Ltd (VHJ), which has the full executive…
Read MoreBasic Energy Corporation has signed a term sheet with Vintage Holding Japan Company Limited (VHJ) forthe possible acquisition of a minimum 10% stake in a 25 MW biomass power plant in Karatsu City, SagaPrefecture, Japan. VHJ holds full executive rights to the facility wholly owned and controlled by BiomassPower GK(IBP). As approved by the Board…
Read MorePhilippine-listed company Basic Energy Corp is looking to acquire up to 20 per cent stake in a Japan-based power plant wholly owned and controlled by BiomassPower GK (IBP). Basic Energy signed on Thursday a term sheet with Vintage Holdings Japan Company Limited (VHJ) for the possible acquisition of a minimum 10 per cent stake in…
Read MoreWork on the first phase of a planned 220 MW solar PV plant is underway in Myanmar, according to Basic Energy Corporation. The Filipino-based energy company is looking to acquire an up to 20% stake in the two EPC companies involved. Under a filing with the Philippines Securities and Exchange Commission, Basic Energy Corporation has…
Read MoreMANILA, Philippines — Basic Energy Corp. is looking to acquire minimum stakes in the firms building a 220-megawatt (MW) solar plant in Myanmar as part of getting revenue streams while development for long-gestating projects are ongoing. Basic Energy said it has signed an investment term sheet with Vintage Engineering Public Co. Ltd. (VTE) of Thailand…
Read MoreListed Basic Energy Corporation has signed a term sheet with Vintage Engineering Public Company Limited (VTE) of Thailand for the possible acquisition of a minimum 12.5 percent stake in two companies that hold the Engineering, Procurement, and Construction (EPC) contract of the ongoing 220-megawatt (MW) solar power plant project in Minbu, Myanmar. The term sheet…
Read MoreBasic Energy Corp. has agreed with Thailand-based Vintage Engineering PCL (VTE) on the terms of investing in two of the latter’s subsidiaries involved in what is considered as Southeast Asia’s largest solar power project.Basic Energy said in a disclosure to the Philippine Stock Exchange that it had signed with VTE an investment term sheet, which…
Read MoreLISTED Basic Energy Corp. said on Thursday that it would continue exploration work in certain areas in Mindoro. Basic Energy told the local bourse that for 2017, the company “will continue with its business in oil and gas exploration, being a party, together with other exploration companies, to a service contract for the exploration, development,…
Read MoreNovember 17 (Renewables Now) – Philippine energy developer Basic Energy Corp (PSE:BSC) may invest in the companies that were awarded the engineering, procurement and construction (EPC) contract for a 220-MW solar power project in Myanmar. Basic Energy said in a stock exchange statement on Friday it has signed a term sheet with Vintage Engineering PCL…
Read MoreLISTED HOLDING COMPANY BASIC ENERGY CORP., TOGETHER WITH ITS PARTNER SOLMAX POWER LIMITED OF HONG KONG, WILL CARRY ON WITH ITS OVERSEAS SOLAR EXPANSION BEGINNING WITH JAPAN AFTER THE FORMER SIGNED THE INVESTMENT TERM SHEET AND REMITTED A REFUNDABLE DEPOSIT WORTH JP¥50M (ROUGHLY ₱22.74 M) “TO TRIGGER THE DUE DILIGENCE WORK.” Additionally, Basic Energy is…
Read MoreMANILA, Philippines – Basic Energy Corp. will soon start due diligence on solar farms in Japan after remitting 50 million, or roughly P22.74 million, to Solmax Power Ltd. of Hong Kong. Basic Energy told the Philippine Stock Exchange it signed the investment term sheet and has remitted a refundable earnest deposit to Solmax to trigger…
Read MoreLISTED Basic Energy Corp. said it has tied up with Solmax Power Limited of Hong Kong for the former’s intended expansion into solar projects in Japan. In a regulatory filing on Friday, the firm said it has signed the investment term sheet and remitted a refundable deposit of ¥50 million to Solmax. The move is…
Read MoreBasic Energy Corp. is commencing due diligence work on Solmax Power Limited of Hong Kong and its solar power projects in Japan as it looks to spread its wings outside the Philippines. The company signed the investment term sheet and remitted a non-refundable deposit of JPY50 million to Solmax. Basic Energy is conducting due diligence with…
Read MoreBasic Energy Corp. raised 50 million yen (P22.673 million) to start due diligence work on Solmax Power Ltd., a Hong Kong-based company with solar projects in Japan. “Basic has signed the investment term sheet and has remitted a refundable earnest deposit to Solmax in the amount of 50 million Japanese yen to trigger the due…
Read MoreIn a disclosure to the stock exchange on Monday, Basic Energy said its stockholders had approved the issuance of 392,092,829 shares to Vintage Engineering Public Co. Ltd. of Thailand (VTE) during the company’s annual stockholders meeting on June 28, 2017. “With the subscription and payment of the above mentioned shares, VTE shall be owning shares…
Read MoreBASIC ENERGY Corp. is considering making an investment in a Hong Kong-incorporated company that has a portfolio of solar projects in Japan. In a disclosure to the stock exchange, the listed company said its board of directors on Wednesday approved making a refundable earnest deposit in Solmax Power Ltd. to be able to conduct due…
Read More2017 Annual Stockholders’ Meeting Date: Wednesday, June 28, 2017 Time: 3:00 p.m. Venue: Manila Golf and Country Club, Harvard Avenue, Forbes Park, Makati City
Read MorePublicly listed Basic Energy Corporation (BEC) has firmed up a partnership deal with Thai firm Vintage Engineering Public Company Ltd. (VTE) for renewable energy (RE) ventures. The Filipino firm has agreed to issue to VTE “an aggregate of 435,658,699 shares out of the unissued capital stock of the company in tranches.” In particular, the two…
Read MoreMANILA, Philippines – Basic Energy Corp. will sell unissued shares to Thailand-based Vintage Engineering Public Co. Ltd. (VTE) in line with their joint development of renewable energy (RE) projects here and abroad. In a disclosure yesterday, Basic said it has entered into a subscription agreement with VTE, a publicly-listed company in Thailand, “for a strategic…
Read MoreBASIC ENERGY Corp. and a Thai company have agreed to a “strategic partnership” in renewable energy projects, the listed company said on Wednesday. In a disclosure to the exchange, Basic Energy said it had agreed to issue and Vintage Engineering Public Co. Ltd. (VTE) has agreed to subscribe for 435,658,699 shares of the company. It…
Read MoreBASIC ENERGY CORP. IS SET TO SELL ITS UNISSUED SHARES TO VINTAGE ENGINEERING PUBLIC CO. LTD (VTE) IN THAILAND FOR THEIR JOINT DEVELOPMENT OF RENEWABLE ENERGY (RE) PROJECTS HERE AND ABROAD. In a disclosure to the Philippine Stock Exchange, Basic Energy said they inked a subscription agreement with VTE “for a strategic partnership to pursue…
Read MoreMANILA, Philippines – Basic Energy Corp. will sell unissued shares to Thailand-based Vintage Engineering Public Co. Ltd. (VTE) in line with their joint development of renewable energy (RE) projects here and abroad. In a disclosure yesterday, Basic said it has entered into a subscription agreement with VTE, a publicly-listed company in Thailand, “for a strategic…
Read MorePhilippine stocks were mixed on Friday’s close although the Philippine Stock Exchange index (PSEi) was down 0.24% to end the week at 7,235.21 points. Industrial stocks gained the most, moving 0.71% higher to end the week at 11,129.29 points. Here are this week’s Top 5 Philippine Stock Exchange Gainers: Pacifica Inc (PSE:PA) up 51.16% Mining…
Read MoreMANILA, Philippines – The consortium of Basic Energy Corp. and Phinma Energy Corp. is holding tests to determine resource at the Mabini geothermal field in Batangas after completing drilling works at the project. The consortium has complied with its work commitment with the Department of Energy (DOE) for completing drilling works for Geothermal Service Contract…
Read MoreThe consortium, composed of Basic Energy Corp. and Phinma Energy, formerly Trans-Asia Oil and Energy Development Corporation, said the drilling at the Mabini Geothermal Project is still ongoing. “As of December 5, 2016, a casing (3-1/2”) inch string has been successfully installed at a depth of 660 meters. The next steps shall consist of rig…
Read MoreBasic Energy Corp. and Phinma Energy Corp., formerly Trans-Asia Oil and Energy Development Corp., are expected to reach the target drilling depth of the Mabini geothermal project in the first quarter of next year. Basic Energy disclosed to the Philippine Stock Exchange it started drilling on the San Teodoro, Mabini, Batangas geothermal prospect and reached…
Read MoreMANILA, Philippines – Basic Energy Corp. and Phinma Energy Corp. are on track to complete drilling works at the Mabini geothermal project in Batangas by the first quarter of 2017. In a disclosure to the Philippine Stock Exchange yesterday, Basic Energy said it has completed drilling at a depth of 660 meters as of Dec….
Read MoreMANILA, Philippines – Basic Energy Corporation (PSE:BSC) updates on the status of Mabini Geothermal Project as of December 15, 2016. In a disclosure to the Philippine Stock Exchange (PSE), Angel Gahol, Basic Energy Compliance Officer, reports that a 3.5-inch casing string has been installed at a depth of 660 meters successfully. The project, which was…
Read MoreMANILA, Philippines – The Department of Energy (DOE) has given its go-signal for Basic Energy Corp. and Desco Inc. to team up for a geothermal project in Camarines Sur. In a disclosure to the Philippine Stock Exchange, Basic Energy said it has received the DOE approval on the farm-in agreement and deed of assignment with…
Read MoreOIL-and-gas exploration firm Basic Energy Corp. (BEC) has sought the go-ahead of the Department of Energy (DOE) for it to unload 80 percent of its stake in a geothermal service contract (GSC) to Desco Inc. “Basic Energy recently received the approval of the Department of Energy on the farm-in agreement and deed of assignment with…
Read MoreTHE Department of Energy (DOE) has approved the deed of assignment by listed Basic Energy Corp. (BEC) of an 80 percent stake in its Iriga geothermal service contract to local firm Desco Inc. “Yes, it’s already approved,” Arnel Fronda, division chief of the department’s Geothermal Energy Management Division, said on Wednesday. BEC signed the deed…
Read MoreThe Energy Department approved the transfer of an 80-percent stake in Iriga geothermal service contract from Basic Energy Corp. to local company Desco Inc. “Yes, it’s already approved,” said Arnel Fronda, division chief of the Energy Department’s geothermal energy management division. Basic Energy signed the deed of assignment to Desco for an 80-percent stake in…
Read MoreBasic Energy Corp. has signed a memorandum of agreement (MOA) with Thailand-based Vintage Engineering Public Company Ltd. (VTE) for the exploration, development and production of renewable energy resources both in the Philippines and abroad. In a disclosure with the Philippine Stock Exchange (PSE) Thursday, Basic Energy said the publicly-listed VTE subscribed nine percent on the…
Read MoreBasic Energy Corp. has partnered with a Thailand-based company for the “exploration, development and production of renewable energy sources in the Philippines and abroad.” The company said in a disclosure that it signed a memorandum of agreement (MOA) with Vintage Engineering Public Company Limited (VTE). The equity investment amounts to P139.41 million covering 435, 658,…
Read MoreListed power project developer, Basic Energy Corp. signed an agreement with Thailand-based listed firm, Vintage Engineering Public Co. Ltd. (VTE) for a strategic partnership to pursue the exploration, development, and production of renewable energy resources both local and abroad. Under the agreement, Basic Energy and VTE shall, after due diligence, execute definitive agreements to cover…
Read MoreBASIC Energy Corporation (Basic Energy) signed a memorandum of agreement (MOA) with Vintage Engineering Public Company Limited (VTE) of Thailand on October 5 for a strategic partnership to pursue the exploration, development, and production of renewable energy resources in the Philippines and abroad. The company told the Philippine Stock Exchange (PSE) on Thursday that under…
Read MoreBASIC Energy Corp. is partnering with a Thai company to explore renewable energy resources in the country and overseas, the listed company told the stock exchange on Thursday. In a disclosure, Basic Energy said it had signed a memorandum of agreement with Vintage Engineering Public Co. Ltd. (VTE), a publicly listed company based in Thailand,…
Read MoreBasic Energy Corp. said it signed a memorandum of agreement with Vintage Engineering Public Co. Ltd. of Thailand to develop renewable energy projects in the Philippines and abroad. Basic Energy said in a disclosure to the stock exchange Thursday the two parties would execute definitive agreements to cover VTE’s subscription of 9 percent of the…
Read MoreBasic Energy Corp. has partnered with Thailand’s Vintage Engineering Public Co. Ltd. to pursue the exploration, development, and production of renewable energy resources in the Philippines and abroad. In a disclosure to the Philippine Stock Exchange on Thursday, Basic Energy said a memorandum of agreement (MOA) with Vintage Engineering was signed on October 5. Vintage…
Read MoreMANILA – Renewables company Basic Energy said Thursday it has partnered with Thailand’s Vintage engineering for projects here and abroad. Vintage Engineering will buy 9 percent of Basic Energy for P139.4 million, with the option to increase its shareholdings to 25 percent, the Filipino firm told the stock exchange. Basic Energy shares jumped 6.51 percent…
Read MoreOctober 6 (SeeNews) – Thailand-based Vintage Engineering PCL (BKK:VTE) plans to buy a 9% stake in Philippine energy developer Basic Energy Corp (PSE:BSC), or BEC, under a new partnership that envisages the joint exploration of renewable energy opportunities. The two companies have entered into a memorandum of agreement under which VTE is expected to subscribe…
Read MoreThe consortium of Basic Energy Corp. and Trans-Asia Oil and Energy Development Corp. is on track to complete the drilling of Mabini geothermal power project in Batangas by September. Basic said in a disclosure to the stock exchange on Monday once drilling reached a depth of 1,500 meters, testing at Mabini geothermal project would follow….
Read MoreMANILA, Philippines – Basic Energy Corp. plans to develop two to three renewable energy (RE) projects to bring in additional revenues while it is still in the process of developing geothermal prospects, its top official said. The company needs to develop other RE projects that “can bring in important short-term revenue” to the company, Basic…
Read MoreBASIC Energy Corp. is pursuing two to three renewable-energy projects, including the installation of solar photovoltaic farms, aimed at making the company profitable at the soonest time possible. “We’re in the negative,” company President Oscar de Venecia Jr. said after the company’s stockholders’ meeting when asked to provide initial assessment on the company’s financial position…
Read MoreBASIC ENERGY Corp. is looking to develop three of its properties into solar farms that can bring “immediate impact” on the bottom line, its president said. “The target right now is we want… as soon as possible to bring in some renewable energy projects that can bring in important short-term revenue to the company,” Oscar…
Read MoreMANILA, Philippines – The consortium operating the Mabini geothermal project in Batangas has started drilling an exploratory well, which will determine the steam resource available in the service contract. The consortium, composed of Basic Energy Corp. and Trans-Asia Oil and Energy Development Corp., spudded an exploratory well with a minimum depth of 1,500 meters, which…
Read MoreWith the spudding of targeted exploratory well, drilling for the extraction of steam resource has officially commenced for the planned Mabini geothermal power project. Holders of Geothermal Service Contract No. 8 – Basic Energy Corporation and Trans-Asia Oil and Energy Development Corporation – both announced at the Philippine Stock Exchange (PSE) the spudding of the…
Read MoreBASIC ENERGY Corp. and Trans-Asia Oil and Energy Development Corp. have approved the drilling program for the first exploratory well under the consortium’s service contract in Mabini, Batangas. Publicly listed Basic Energy told the stock exchange yesterday that the program seeks to confirm the existence of a geothermal resource in the designated drill site at…
Read MoreBasic Energy Corp. and Trans-Asia Oil and Energy Development Corp. have signed a contract with Diamond Drilling Corp. to drill the Mabini geothermal prospect in Batangas province. Basic Energy said in a statement its joint venture with Trans-Asia approved a drilling program to spud an exploratory well in the geothermal prospect in Mabini, Batangas. The…
Read More2016 Annual Stockholders’ Meeting Date: June 29, 2016 Time: 3:00 p.m. Venue: Manila Golf and Country Club, Harvard Avenue, Forbes Park, Makati City
Read MoreMANILA, Philippines – Basic Energy Corp. has forged a partnership with a German-backed solar developer in Asia to develop 10 megawatts (MW) of solar projects in two locations in Pangasinan, marking its first venture into solar power. Basic Energy disclosed yesterday it signed a memorandum of understanding (MoU) with nv vogt Singapore Pte. Ltd. for…
Read MorePUBLICLY listed power company Basic Energy Corp. has struck a memorandum of understanding with a Singaporean solar-power developer for the joint development of a solar-power plant in Pangasinan. The project calls for the development of about 10 megawatts of solar energy per project in the property owned by Basic Energy in San Fabian and Bolinao…
Read MoreLISTED Basic Energy Corp. is partnering with a Singaporean solar power company to develop solar projects in Pangasinan. In a disclosure to the stock exchange, Basic Energy said it signed a memorandum of understanding with nv vogt Singapore Pte., Ltd. to develop solar projects with a maximum capacity of 10 megawatts each in the former’s…
Read MoreBASIC Energy Corp. (BEC) said it has signed a memorandum of understanding (MOU) with nv vogt Singapore Pte. Ltd. for the development of solar power projects in the country. In a disclosure to the Philippine Stock Exchange (PSE) on Tuesday, BEC said it and nv vogt signed the MOU on March 28, 2016 under which…
Read MorePublicly-listed firm Basic Energy Corporation has inked a deal with nv vogt Singapore Pte Ltd. for planned 10-megawatt peak (MWp) solar power developments in Pangasinan. The targeted sites, according to Basic Energy, will be along its properties in San Fabian and Bolinao towns in the province. A memorandum of understanding (MOU) was signed by the…
Read MoreBasic Energy Corp. said Monday it teamed up with solar power developer nv vogt Singapore Pte. Ltd. in line with its goal to develop alternative energy sources. Basic Energy said the agreement with nv vogt covered the development of solar power projects in San Fabian and Bolinao, Pangasinan and other sites deemed ideal for solar…
Read MoreBasic Energy Corp. (BEC) has decided to abandon four hydropower service contracts awarded to the power firm last year, which are in Negros Occidental, to focus on its geothermal projects. “The board decided to return to the Department of Energy its four hydropower service contracts covering Puntian 1, Puntian 2, Malogo 2 and Talabaan,” the…
Read MoreBasic Energy Corp. (BEC) will drill the first well in its Mabini Geothermal Project. Located in the Calumpan Peninsula, the Mabini Geothermal Sevice Contract 8 covers 3,841 hectares. Based on a pre-feasibility study, the area is projected to yield a capacity of between 20MW and 60MW. In a meeting of January 27, 2016, the BEC…
Read MoreBASIC ENERGY CORP. has decided to give up four hydropower service contracts covering four separate projects, the company said in a disclosure to the stock exchange. “The board in its regular meeting held on Jan. 27, 2016, upon recommendation of management, approved to return to the Department of Energy its four hydropower service contracts, covering…
Read MorePublicly listed Basic Energy Corporation (BEC) has pulled out from the four service hydro service contracts that were previously awarded to it by the Department of Energy (DOE). These are for the prospects in Puntian 1 and Puntian 2, Malogo 2 and Talabaan in Negros Occidental. “The move is in support of efforts to streamline…
Read MoreMANILA, Philippines – Basic Energy Corp. has firmed up its partnership with Desco Inc. to commence drilling of its geothermal project in Camarines Sur next month. In a disclosure to the Philippine Stock Exchange, Basic Energy said it signed a farm-in agreement and deed of assignment with Desco. The deal allows Desco to acquire 80…
Read MoreBasic Energy Corp. said Monday it signed a farm-in agreement allowing Desco Inc. to acquire an 80-percent participating interest in the Iriga geothermal power project. Basic Energy said in a disclosure to the stock exchange Desco would bear the entire expenditure for the geophysical survey and all other activities required to bring the Iriga geothermal…
Read MoreThe Basic Energy Corp (BEC) has sealed its farm-in deal with Desco Inc for the development of its Iriga geothermal project. Desco is a local service provider for the geothermal, oil and gas companies. BEC disclosed on Monday the agreement was signed to acquire from BEC 80 per cent undivided participating interest in the rights,…
Read MoreBasic Energy Corp. is set to start drilling a geothermal well in Batangas province in the first half, a company official said. “Target spud date for Mabini is first week of May,” Basic Energy senior vice president Anthony Cuaycong said. He said the Mabini geothermal project drilling in Mabini, Batangas would account for the bulk…
Read MoreOIL and gas exploration firm Basic Energy Corp. (BEC) said it has entered into a partnership with Desco Inc. for the development of its Iriga geothermal service contract. The deal was approved by the BEC’s board of directors in its meeting on Wednesday, the company said in a disclosure to the Philippine Stock Exchange (PSE)….
Read MoreBasic Energy Corp. (BEC) has approved in principle a partnership with Desco Inc. for the development of its Iriga geothermal service contract. In a disclosure to the Philippine Stock Exchange, BEC said its board of directors had agreed that Desco would be taking up an 80-percent stake in the project. This will take place after…
Read MoreBasic Energy Corporation (PSE: BSC) and Trans-Asis Oil and Energy Development Company (PSE: TA) signed a Joint Operating Agreement (JOA) for Mabini Geothermal Service Contract No. 8. In a disclosure to the Philippine Stock Exchange Tuesday 03 November 2015, BSC said the purpose of the Joint Operating Agreement (JOA) is to establish the respective rights…
Read MoreBASIC Energy Corp. is all set to complete a joint development deal with Trans-Asia Oil and Energy Development Corp. on a geothermal power project with a potential capacity of at least 20 megawatts (MW). The Department of Energy (DOE) has sent a letter to Basic Energy signifying its approval of the agreement between the two…
Read MoreBasic Energy Corp. received the green light from the Energy Department on a farm-in agreement with Trans-Asia Oil and Energy Development Corp. to jointly develop a geothermal service contract in Mabini, Batangas. Basic Energy said in a disclosure to the Philippine Stock Exchange it obtained the go-signal early this week. The approved arrangement calls for…
Read MoreA farm-in deal was firmed up between local firms Trans-Asia Oil and Energy Development Corporation and Basic Energy Corporation on the former’s equity acquisition in a geothermal service contract in Mabini, Batangas. It was provided under the farm-in agreement that Trans-Asia will acquire from Basic Energy “25-percent undivided participating interest in the rights, interests, privileges,…
Read MoreTrans-Asia Oil and Energy Development Corp. has raised its stake in a geothermal service contract located in Mabini, Batangas. In a disclosure to the Philippine Stock Exchange (PSE), Trans-Asia said it acquired from Basic Energy Corp. (Basic) a 25-percent participating interest in Geothermal Service Contract No. 8. Trans-Asia said it already signed a farm-in agreement…
Read MoreFEDS will carry out the review and evaluation of existing data and reconnaissance geological and geochemical field work at geothermal sites. In a recent post in SeeNews, Philippine energy developer Basic Energy Corp said Tuesday it has inked a services agreement with local firm FEDS Energy Resources and Development Services Inc for four of its geothermal…
Read MoreGeothermal projects of Basic Energy are located in East Mankayan straddling Benguet, Mountain Province and Ifugao; Mariveles, Bataan; Iriga, Camarines Sur and West Bulusan in Sorsogon. According to the agreement,FEDS evaluates the technical viability of the geothermal projects which accelerates the surface exploration phase of Basic Energy. FEDS estimates the completion of study in three…
Read MoreMANILA, Philippines – Basic Energy Corp., a listed oil and gas company, and Trans Asia Oil and Energy Development Corp., the power generation arm of the Phinma Group, have signed a farm-in agreement and deed of assignment covering a geothermal service contract in Mabini, Batangas. In separate disclosures to the Philippine Stock Exchange (PSE), Trans-Asia…
Read MoreBASIC ENERGY CORP. has tapped a local firm to determine the technical viability of its geothermal projects. Basic Energy told the stock exchange yesterday it signed an agreement for services with FEDS Energy Resources and Development Services, Inc. for the “conduct of review and evaluation of existing data and reconnaissance geological and geochemical survey of…
Read MoreBasic Energy Corp. signed an agreement with FECD Energy Resources and Development Services to review and evaluate existing data and the geological and geochemical survey of its geothermal power projects. Basic said in a disclosure to the Philippine Stock Exchange the data would come from the East Mankayan Geothermal Power Project, Mariveles Geothermal Power Project,…
Read MoreFebruary 25 (SeeNews) – Philippine energy developer Basic Energy Corp (PSE:BSC) said Tuesday it has inked a services agreement with local firm FEDS Energy Resources and Development Services Inc for four of its geothermal power schemes in the country. As part of the deal, FEDS will carry out the review and evaluation of existing data…
Read MorePT Basic Energi Solusi (PT BES), a subsidiary of Basic Energy Corporation (PSE: BSC) reported that as of December 4, 2014, Well BES-02 has completed Wire logging. Production casings are presently being installed. Afterwhich, production testing will be conducted. Well BES-06 is in the first phase production testing. Well BES-03 has completed production testing. Data…
Read MoreBasic Energy Corp. is aggressively pursuing renewable energy projects following the approval of the Securities and Exchange Commission of the amended articles of incorporation of subsidiary Basic Ecomarket Farms Inc. The corporate regulator approved the amendment that changed the name of Basic Ecomarket to Basic Renewables. It also approved the change in the company’s primary…
Read MorePT Basic Energy Solusi (PT Bes), Basic Energy Corporation and Petrosolve Sdn Bdn of Malaysia, has dug its fifth well at a target depth of 420 meters, based on a disclosure by the Philippine Stock Exchange (PSE). “Update on the drilling operation of PT Basic Energi Solusi, a subsidiary of Basic Energy Corporation, reported that…
Read MorePT Basic Energi Solusi (PT BES), a subsidiary of Basic Energy Corporation (PSE: BSC) reported that as of November 4, 2014, the third well (BES-3) has commenced production testing. Actual data will be collected for analysis and shall be provided separately upon completion of the production testing. The test is to determine flow rates using…
Read MoreMANILA, Oct. 14 — Basic Energy Corporation’s third well (BES-3) in Indonesia, with Petrosolve Sdn Bdn of Malaysia, has reached its target depth of 460 meters. ”PT Basic Energi Solusi, a subsidiary of Basic Energy Corporation reported that as of Oct. 13, 2014, the third well (BES-3) has reached its total depth of 460 meters…
Read MorePT Energi Solusi a subsidiary of Basic Energy Corporation (PSE: BSC) reported that as of October 1, 2014, the fifth well (BES-5) has reached its total depth of 405 meters and wire logging of the well is now being readied. On the other hand, its sixth (BES-6) well has completed wire logging and preparation are…
Read MorePT Basic Energi Solusi, the foreign company in Indonesia of Grandway Group Limited, a joint venture company of Basic Energy Corporation (PSE: BSC) and Petrosolve Sdn Bdn of Malaysia, has informed Basic Energy Corporation that on September 22, 2014, it has completed the wire line logging and analysis of its fourth well (BES-4). It has…
Read MoreBasic Energy Corp. announced on Thursday its joint venture subsidiary has completed drilling its fourth oil well in Indonesia. In a statement, Basic Energy said PT Basic Energi Solusi has completed the operations in its fourth oil well, while its third, fifth and sixth oil wells are still in the drilling process. “It has completed…
Read MoreMANILA – Basic Energy Corp’s unit in Indonesia is preparing for production tests on its fourth oil well. In a disclosure to the Philippine Stock Exchange, Basic Energy said PT Basic Energi Solusi completed the wire line logging and analysis for its fourth well or BES-4. “Well development work for production is continuing. Preparations are…
Read MoreOil manifestation has been upping the ante for local firm Basic Energy Corporation on eventual production at one of its drilled petroleum wells in Indonesia. The company, in a disclosure to the Philippine Stock Exchange, has noted that subsequent wire logging at the fourth well (BES-4) it drilled “reveals three potential reservoir zones indicating good…
Read MoreAn offshore investment arm of Basic Energy Corporation has reached “production testing” on one of its drilled wells for oil extraction prospect in Central Java, Indonesia. The publicly-listed Filipino firm has disclosed to the Philippine Stock Exchange (PSE) that its fourth well has already reached its targeted depth of drilling and is now moving on…
Read MorePT Basic Energi Solusi, a unit of Basic Energy Corp., is preparing for possible oil production in a fourth well it drilled in Central Java, Indonesia. “In the next few days, the hole shall be prepared for wire logging and production testing. After a successful production testing, further studies will be undertaken to bring the…
Read MoreMANILA – Basic Energy Corp’s subsidiary is nearing completion of drilling activity in another oil well in Indonesia. In a disclosure to the Philippine Stock Exchange, Basic Energy said PT Basic Energi Solusi reached its target depth for the fourth well on July 24. “In the next few days, the hole shall be prepared for…
Read MoreBasic Energy Corp. signed an agreement with From Energies International Ltd. of Spain to explore joint opportunities in developing Basic’s hydropower projects. Basic Energy disclosed to the Philippine Stock Exchange Wednesday From Energies would explore and identify sources of funding and technical expertise requirements for the hydro projects, through its networks in the international energy…
Read MoreMANILA, Philippines–Listed firm Basic Energy Corp. has tied up with a company registered in Spain for the joint development of domestic hydropower projects. In a disclosure to the Philippine Stock Exchange, Basic Energy said it recently signed a memorandum of understanding with From Energies International Ltd.—a company registered in Barcelona, Spain. “From Energies International will…
Read MoreFilipino firm Basic Energy Corporation is advancing into its hydropower projects by tapping a Spanish co-venturer, being its most recent implementation milestone. The company disclosed to the Philippine Stock Exchange (PSE) that it recently inked a memorandum of understanding with Barcelona-based From Energies International Limited “for a joint venture development of business opportunities for hydropower…
Read MoreBasic Energy Corp. is partnering with a Barcelona-registered energy company for its maiden hydropower projects in the country. “Basic Energy recently signed a memorandum of understanding with From Energies International Ltd., a company registered under the laws of Barcelona, Spain, for a joint development of business opportunities for Basic’s hydropower projects,” the company reported yesterday….
Read MoreBasic Energy Corporation (BSC) disclosed to the stock exchange Wednesday, July 23, that BSC have signed a Memorandum of Understanding with From International Limited, a company registered under the laws of Barcelona, Spain, for a joint development of business opportunities for Basic Energy Corporation’s hydropower projects. From Energies International will seek to explore and identify…
Read MoreMANILA, July 23 (PNA) — Philippine firm, Basic Energy Corporation, and Spain’s From Energies International Limited has signed a memorandum of understanding (MOU) to develop hydropower projects in the Philippines. In a disclosure with the Philippine Stock Exchange (PSE) Wednesday, Basic Energy Corporation reported that From Energies International Ltd. will be their partner in exploring…
Read MoreA Spain-based energy company is entering the Philippines’ hydropower business sector through a tie-up with Basic Energy Corp. to help fund the latter’s existing projects, the locally listed company said in a disclosure. Basic Energy said in its filing with the Philippine Stock Exchange on Wednesday that it has signed a Memorandum of Understanding with…
Read MoreMANILA – Basic Energy Corp has teamed up with a Spanish firm for the development of hydropower projects. In a disclosure to the Philippine Stock Exchange, Basic Energy said it signed a memorandum of understanding with From Energies International Ltd for the joint development of hydro projects. From Energies International is a company registered under…
Read MoreKUALA LUMPUR: The Philippine-listed Basic Energy Corp said the company and its Malaysian partner, Petrosolve Sdn Bhd, have begun drilling their fourth and fifth oil wells in Indonesia. “Preparation is also under way for the spud-in of its sixth well,” Basic Energy told the Philippines Stock Exchange last week. PT Basic Energi Solusi is the…
Read MoreMANILA, July 9 — The Philippines’ Basic Energy Corporation and Malaysia’s Petrosolve Sdb Bhd has dug their fourth and fifth oil wells in Indonesia. Based on a disclosure with the Philippine Stock Exchange (PSE), Basic Energy Corporation was updated by PT Basic Energi Solusi, a foreign investment company in Indonesia under the Grandway Group Limited,…
Read MorePT BASIC Energi Solusi (PT Basic), a unit of listed Basic Energy Corp., has begun works on two wells in Indonesia in a bid to draw more oil within the resource area. PT Basic is a subsidiary of Hong Kong-based Grandway Group Ltd. — which is a 70-30 joint venture between Basic Energy and Malaysian…
Read MoreAn offshore investment subsidiary of Basic Energy Corporation has scheduled new batch of drillings covering three wells at its oil extraction prospect in Indonesia. The company, in a disclosure to the Philippine Stock Exchange (PSE), has noted that the corporate vehicle for the Indonesia upstream oil venture PT Basic Energi Solusi already reached ‘spud-in’ on…
Read MoreMANILA – Basic Energy Corp and its Malaysian partner have begun drilling their fourth and fifth oil wells in Indonesia. “Preparations are also under way for the spud-in of its sixth well,” Basic Energy said in a disclosure to the Philippine Stock Exchange. PT Basic Energi Solusi is the foreign investment company in Indonesia of…
Read MorePUBLICLY listed Basic Energy Corp. said PT Basic Energi Solusi has spud two wells in Java, Indonesia. To spud an oil well refers to the process of drilling an initial surface hole. PT Basic Energi Solusi is the foreign-investment company in Indonesia of Grandway Group Ltd., which is the joint-venture company of Basic Energy Corp….
Read MoreIn a disclosure with the Philippine Stock Exchange (PSE) Thursday, Basic Energy said its Board of Directors has agreed Wednesday to rename the Basic Ecomarket Farms Inc to Basic Hydropower Corpration and the iBasic to Basic Petroleum Corporation. It noted that Basic Hydropower Corp.’s new primary purpose is the exploration and enhancement of hydropower resources…
Read MoreLISTED Basic Energy Corp. has allotted $2.5 million to an oil-exploration project in Java, Indonesia, the company said in its 2014 management report released last week. The project is being undertaken by PT Basic Energi Solusi, the foreign investment company in Indonesia of Grandway Group Ltd., the joint-venture company formed by Basic Energy and Malaysia-based…
Read MoreBASIC Energy Corp. has tapped Unicapital, Inc. as advisor for future fund-raising activities, the listed power firm said in a brief disclosure yesterday. The company said its board of directors, in a meeting last Wednesday, approved the “engagement of Unicapital… as exclusive financial advisor and investment banker for the company’s fund raising for its energy…
Read MoreLISTED Basic Energy Corp. said drilling of a third well in Java, Indonesia, by PT Basic Energy Solusi has commenced. “PT Basic Energi Solusi has informed Basic Energy Corp. that it has spud-in its third well,” the company told the stock exchange. To spud an oil well refers to the process of drilling an initial…
Read MorePT BASIC Energi Solusi (PT Basic), a unit of listed Basic Energy Corp., has moved a step closer to production of oil from its wells in Java, Indonesia, the parent firm said in disclosure yesterday. PT Basic is a subsidiary of Hong Kong-based Grandway Group Ltd., which is a 70-30 joint venture of Basic Energy…
Read MoreHis family name sounds familiar in the political arena, but Oscar “Carey” De Venecia Jr. chooses to explore a different field, in a bid to help the country produce more oil and energy for the future. De Venecia, the 46-year-old president and chief executive of Basic Energy Corp., says he never felt the compulsion to…
Read MoreThe Philippines’ Department of Energy has awarded contracts four small hydropower plants being developed in Negros Occidental by the Basic Energy Corporation. According to the company, the contracts will cover the construction, installation, operation and maintenance of the 2-MW Puntian 1, 2-MW Puntian 2, 3-MW Laogo 2 and 2-MW Talabaan hydroelectric projects. The agreement gives…
Read MoreMANILA, Philippines – The Department of Energy (DOE) has approved several hydropower contracts of Basic Energy Corp. in Negros Occidental, the company said yesterday. Basic Energy said it has received the DOEs approval of the hydropower service contracts for the two-megawatt Puntial 1, two-MW Puntian 2, three-MW Malogo 2 and two-MW Talabaan hydropower projects. The…
Read MoreThe Department of Energy (DOE) has given its go signal to the four hydro projects of Basic Energy Corp. in Western Visayas. In a disclosure to the Philippine Stock Exchange, Basic Energy said that it has received the notice of approval from the DOE for its four hydropower service contract projects located in Negros Occidental….
Read MoreMANILA – Basic Energy Corp has won the 25-year contract over four hydro power projects in Negros Occidental from the government. In a statement, Basic Energy said that the Department of Energy awarded it service contracts to develop small hydroelectric power facilities in Murcia, Valencia City in the said province. These power plants include the…
Read MoreListed Basic Energy Corporation has bagged four 25-year contracts to develop hydropower projects in Negros Occidental, the company disclosed Monday. Basic Energy said the Energy department approved last Feb. 5 the awarding of hydropower service contracts for 2 MW Puntian 1 HydroPower Project, 2 MW Puntian 2 HydroPower Project, 3 MW Malogo 2 HydroPower Project…
Read MoreMANILA, Philippines – Basic Energy Corp., a listed oil and gas company, has received the green light from the Department of Energy to develop geothermal resources in Sorsogon. In a disclosure to the Philippine Stock Exchange, the company said it received its certificate of registration from the DOE as a renewable energy developer of geothermal…
Read MoreMANILA, Philippines – Oil and gas company Basic Energy and Trans-Asia Oil and Energy Development Corp., the power generation arm of the Phinma Group, have signed an agreement for the exploration and development of geothermal service contracts. Under the deal, Trans Asia acquired a 10 percent stake in Basic Energy’s geothermal service contract located in…
Read MoreMANILA, Philippines – Oil and gas exploration firm Basic Energy Corp. is setting aside P300 million to fund significant projects next year, its top official said. Basic Energy chief executive officer Oscar de Venecia Jr. said the company’s board has approved next year’s budget to fund projects in the oil and gas and geothermal energy…
Read MoreMANILA, Philippines – Basic Energy, a listed oil and gas firm, is in talks with potential partners for its geothermal project in Mabini, Batangas. In a disclosure to the Philippine Stock Exchange (PSE), Basic Energy said it already held negotiations with potential investors for its Mabini geothermal energy project. “The company has committed with the…
Read MoreMANILA, Philippines – Basic Energy Corp. has commenced exploration work on the first two of 10 existing oil wells in Indonesia for possible future implementation of an enhanced oil recovery technology through its partner Petrosolve Sdn Bhd of Malaysia. This after Basic Energy agreed with Petrosolve for the latter to assign its rights to manage…
Read MoreMANILA, Philippines – Basic Energy Corp. and its Malaysian partner Petrosolve Sdn Bhd have forged a deal to develop 10 oil wells in Indonesia. In a disclosure to the Philippine Stock Exchange, Basic Energy said the partnership has reached an agreement for PT Basic Energi Solusi to acquire from Petrosolve the rights to manage 10…
Read MoreMANILA, Philippines – Basic Energy Corp., said it is currently in discussions with Petrosolve Sdn Bhd of Malaysia for a project to manage and supervise oil wells in East Java, Indonesia. In a disclosure to the Philippine Stock Exchange, Basic Energy said it is in talks with its Malaysian partner for the assignment of rights…
Read MoreListed Basic Energy Corporation is in talks with partner Malaysian oil firm on having their joint venture company manage oil wells in Java, Indonesia. In a disclosure to the Philippine Stock Exchange On Thursday, Basic Energy said it is currently in talks with Petrosolve Sdn Bhd of Malaysia on assigning PT Basic Energi Solusi to…
Read MoreMANILA, Philippines – Grandway Group Ltd., a 70-30 joint venture between Basic Energy Corp. and Malaysian company Petrosolve Sdn Bhd, has received the endorsement of an Indonesian government agency for the establishment of a foreign investment company in Indonesia. In a disclosure to the Philippine Stock Exchange yesterday, Basic Energy said the Grandway Group has…
Read MoreGrandway Group Ltd. has obtained approval from Indonesia’s Investment Coordinating Board, the Badan Koordinasi Penanaman Modal, for the registration of its investment in PT. Basic Energi Solusi to be established in Jakarta, Indonesia. Grandway is a joint venture company of Basic Energy Corp. and Petrosolve Sdn. Bhd., with 70 percent owned by Basic Energy,and 30…
Read MoreMANILA, Philippines – Basic Energy Corp. and Malaysia’s Petrosolve Sdn Bhd have formed a joint venture company, Grandway Group Ltd., for the two firms’ oil exploration business. In a disclosure to the Philippine Stock Exchange, Basic Energy said it would own 70 percent of the Hong Kong-based joint venture while 30 percent would be owned…
Read MoreThe ownership structure of the joint venture between energy developer Basic Energy Corporation and Malaysian company Petrosolve Sdn Bhd of Malaysia will be 70 percent Basic and 30 percent Petrosolve, Basic said in a disclosure to the Philippine Stock Exchange. The new company, Grandway Group Ltd., will be based in Hong Kong and conduct oil…
Read MoreMANILA, Philippines – Basic Energy Corp. has entered into a joint venture with Malaysian company Petrosolve Sdn Bhd for the exploration, development, management and operation of oil wells in and outside the Philippines. The companies agreed to establish a joint venture company, which shall operate as the corporate vehicle for the parties to enter into…
Read MoreBasic Energy Corp. has partnered with a Malaysian-based oil firm to identify and explore oil wells. In a disclosure to Philippine Stock Exchange, Basic Energy said it formed a joint venture with Petrosolve Sdn BHd for the identification, exploration, development, management and operation of oil wells. The joint venture will allow both parties to contribute…
Read MoreMANILA, Philippines – Basic Energy Corp. recorded a 10-percent drop in profits to P31 million in the first quarter as revenues declined compared with year-ago level. In its financial disclosure, the company said its earnings slipped to P31.16 million from P34.82 million a year ago as revenues fell by a tenth to P41.63 million from…
Read MoreMANILA, Philippines – Basic Energy Corp. has inked an agreement with Australia’s Energy 2035 Ltd. to jointly explore opportunities to develop renewable energy sources in the Philippines. Energy 2035 is engaged in the development of renewable energy in Australia, New Zealand and the Asia Pacific region. It aims to be a major supplier of both…
Read MoreMANILA, Philippines – Basic Energy Corp. has signed an agreement with New World Energy Ltd. (NWE) of Australia to jointly undertake development of the Mabini geothermal energy project in Batangas. NWE has existing geothermal energy exploration projects within Australia. It has formed Geoenergy together with local partners Filtech Energy Drilling Corp. and PhilCarbon Inc. to…
Read MoreBasic Energy Corp. took a step closer to letting an Australian energy explorer acquire 70 percent participating interest in — and bear all the cost of exploring — a geothermal well in a 20-megawatt project in Batangas. In a disclosure to the Philippine Stock Exchange Friday, Basic Energy said it executed a “heads of agreement”…
Read MoreMANILA, Philippines – Basic Energy Corp. has signed a memorandum of understanding with Prime Energy Consult Ltd. to jointly develop business opportunities in the oil and gas industry. In its disclosure to the Philippine Stock Exchange, Basic Energy said they will work together on oil and gas projects that will be mutually agreed upon. Prime…
Read MoreThree onshore and 12 offshore oil and gas exploration areas have been presented to prospective investors in the biggest energy contracting round the Department of Energy has launched so far. Energy Secretary Jose Rene Almendras said Thursday at $500 million for each service contract, the total investment potential of the 4th Philippine Energy Contracting Round…
Read MoreMANILA, Philippines – Basic Energy Corp. has tapped the services of Filtech Energy Drilling Corp. the pre-feasibility study of its geothermal energy project in Mabini, Batangas. In a disclosure to the Philippine Stock Exchange, Basic Energy said the study consists of technical (pre-development and development), environmental and social, financial and economics, project schedule and implementation…
Read MoreListed Basic Energy Corp. on Thursday said its subsidiary Southwest Resources Inc. relinquished its rights over service contract (SC) 41 in the Sulu Sea. Basic Energy did not disclose why Southwest decided to relinquish its right over the exploration block. Southwest holds 0.608-percent participation interest in SC 41. Basic Energy owns 82.465-percent of the outstanding…
Read MoreMANILA, Philippines – Basic Energy Corp. has started drilling works in its geothermal service contract in Mabini, Batangas. In a disclosure to the Philippine Stock Exchange (PSE), the company said it has commenced the first stage of the exploration program for its Mabini geothermal service Contract (GSC), consisting of geophysical and geological surveys covering 3,481…
Read MoreListed Basic Energy Corp. has started exploration for a geothermal project in Batangas, expecting to generate power after two to three years. The company told the Philippine Stock Exchange on Wednesday it had started the first stage of exploration activities for the Mabini geothermal service contract, which will consist of geophysical and geological surveys covering…
Read MoreMANILA, Philippines – An Indian company supplying clean technology committed to invest up to half a million dollars in the cassava plantation project of Basic Ecomarket Farms Inc. in Zamboanga. The partnership between Trio-Chem Group of Companies and Basic Energy Corp. is expected to establish an integrated feedstock farm, a bio-ethanol plant, and related facilities…
Read MoreLocal energy developer Basic Energy Corp. has entered into an agreement with Germany’s MAN Ferrostaal Industrieanlagen GmbH to jointly develop alternative fuels and renewable energy sources. MAN is an industry plant subsidiary of MAN AG Group, Europe’s foremost industrial player and global supplier of industrial services. Based on the agreement, MAN will explore the possibility…
Read MoreMANILA, Philippines – Listed Basic Energy Corp. on Friday disclosed that it identified a Germany-listed company as another partner for the development of renewable energy projects in the Philippines. In a disclosure, Basic Energy said it signed a memorandum of understanding with MAN Ferrostaal Industrieanlagen GmbH to pursue the development of alternative fuels and renewable…
Read MoreBasic Energy Corp. has entered into a memorandum of understanding with Canadian-based Nexum Energy Corp. to jointly develop a bioethanol plant in the Philippines. In a disclosure to the Philippine Stock Exchange, Basic Energy said the proposed joint venture project involves the development and operation of a 200,000-liter per day ethanol plant using cassava as…
Read MoreMANILA, Philippines – Listed Basic Energy Corp. will jointly set up with a Canadian firm an ethanol plant in Zamboanga City. In a disclosure to the stock exchange Monday, Basic Energy said it has partnered with Nexum Energy Corp. for the 200,000-liter-per-day ethanol plant using cassava as feedstock. Aside from the fuel additive, the joint…
Read MoreMANILA, Philippines- Publicly-listed Basic Energy Corp. on Monday announced that it has identified a Canadian-based firm as one of its possible strategic operating and financial partners for the development of bio-fuels in the country. In a disclosure, Basic Energy said it signed a memorandum of understanding with Nexum Energy Corp. to pursue a joint venture…
Read MoreMANILA, Philippines – Listed Basic Energy Corp. has signed a deal with four companies to study the feasibility of producing methane from wastes at the San Mateo landfill for electricity generation. In a disclosure to the stock exchange Monday, Basic Energy said it signed the deal with New Kanlaon Construction, Inc., Integrated Environwaste Processors Corp.,…
Read MoreMetro Pacific Investments Corp. (MPIC), the local unit of Hong Kong-based conglomerate First Pacific Co. Ltd., said yesterday that its memorandum of understanding with Basic Energy Corp. on the formation of a joint venture company that will engage in bioethanol production has been terminated. “After an evaluation by MPIC of the biofuels project of BEC…
Read MoreMANILA, Philippines – An energy company will still pursue plans of becoming a major biofuel producer even after a partner discontinued interest in investing in the business. Publicly-listed Basic Energy Corporation (BEC) announced plans to expand its Zamboanga Cassava project in the said peninsula, the same day Metro Pacific Investments Corp. (MPIC) said it “discontinued…
Read MoreBasic Energy Corp. has authorized its management to enter into a memorandum of understanding with two South Korean companies and two local firms on the conduct of a feasibility study involving the development of a landfill gas-to-power project using a closed garbage dumpsite. In a disclosure to the Philippine Stock Exchange, Basic Energy said the…
Read MoreMANILA, Philippies – Listed Basic Energy Corp. has detailed its joint venture deal with a Zamboanga-based cassava farming company for its planned biofuel plants. The energy exploration firm told the exchange on Tuesday it would acquire Ecomarketfarms, Inc.’s cassava project for P12.5 million, payable through shares and cash. Under the joint venture, Basic Energy will…
Read MoreBasic Energy Corp. is planning to build a portfolio of around five to six bioethanol plants throughout the country over the long term in line with its bid to become the leading producer of alternative fuels and renewable energy resources. Basic Energy is banking on its partnership with “big brother,” Metro Pacific Investments Corp. (MPIC)…
Read MorePublicly-listed Basic Energy Corp. has forged a memorandum of understanding (MOU) with Dubai-based Energy Services Group (ESG) to jointly identify and develop opportunities in the oil and gas business, not only within but outside of the Philippines as well. ESG, with a wide network in the international energy industry, provides engineering, procurement, installation, construction and…
Read MoreMANILA, Philippines – Listed Basic Energy Corp. is exploring the use of sugarcane, cassava, sweet sorghum and other feedstocks for two ethanol plants that it plans to set up, as it capitalizes on the local biofuel rush. Basic Energy plans to develop two integrated multiple feedstock ethanol plants with an annual capacity of some 80…
Read MoreMANILA, Philippines – Listed Basic Energy Corp has partnered with a Dubai-based group to identify business opportunities in the Philippines and overseas. In a statement to the Philippine Stock Exchange, Basic Energy said signed on Wednesday a memorandum of understanding with Energy Services Group Ltd. (ESG), “covering an alliance to jointly identify and develop opportunities…
Read MoreMetro Pacific Investments Corp. (MPIC), the local arm of Hong Kong-based industrial conglomerate First Pacific Co. Ltd., is partnering with Basic Energy Corp. for its planned foray into the potentially lucrative area of bioethanol manufacturing. Basic Energy, through unit Zambo Norte BioEnergy Corp. (ZNBC), is putting up a P2.8-billion “greenfield” project consisting of a dedicated…
Read MoreMANILA, Philippines – A group of Australian, Icelandic and Filipino investors have committed to invest at least $450 million to develop geothermal power plants of up to 40 megawatts each in Luzon, Visayas and Mindanao, which could make the Philippines the biggest producer of geothermal energy in the world. One group called Guidance Management Corp….
Read MoreMANILA, Philippines- Metro Pacific Investments Corp., the local unit of Hong Kong conglomerate First Pacific Co. Ltd., has signed a memorandum of agreement that will allow it to explore opportunities in the energy and bio-fuels sector. In a statement, MPIC said it signed a memorandum of understanding with listed Basic Energy Corp. and Basic Biofuels…
Read MoreMANILA, Philippines- The Department of Energy is set to award three geothermal contracts on Thursday. Energy Secretary Angelo Reyes said the three companies that will be awarded the contracts were the Guidance Management Corp., which bagged the contract for the Compostela Valley; the Biliran Geothermal Inc., which secured the contract for the Biliran project; and…
Read MoreMANILA, Philippines – Listed Basic Energy Corp. has been allowed to sell to the public 537.5 million more shares owned by shareholders following its P2-billion capital hike. The company increased its authorized capital stock to P2.5 billion in November so it could raise funds for two bioethanol plants it is setting up in Zamboanga del…
Read MoreMANILA, Philippines- Biofuels maker Basic Energy Corp. is partnering with Chevron Philippines (Caltex) for the possibility of supplying 25 to 50 million liters of bioethanol a year to the fuel retailer. In a statement, Basic Energy said it has signed a memorandum of understanding with Chevron to undertake a study to determine the feasibility of…
Read MoreBasic Energy Corp. (formerly Basic Petroleum Corp.) is eyeing drilling prospects on two oil and gas areas in Indonesia. Based on documents filed with the Securities and Exchange Commission, Basic Energy said the areas being reviewed include one secondary recovery candidate and another under exploratory phase. Basic Energy is currently a participant in Service Contracts…
Read MoreBasic Energy Corp. on Wednesday announced that it is conducting a due diligence study for the possible acquisition of a mining project located in Benguet Province. In a disclosure to the Philippine Stock Exchange, Basic Energy also said that it will be engaging a consultant for its ethanol project in Zamboanga del Norte. No other…
Read MoreLISTED FIRM Basic Energy Corp. has removed from its P2-billion follow-on offering, a clause that gives existing shareholders preferential treatment to buy the new shares. In a disclosure, Basic said its board on Wednesday deleted a clause that allows for the “special allocation of shares” to current shareholders. Basic Vice-President and Corporate Secretary Corazon M….
Read MoreBasic Energy Corp., formerly Basic Petroleum Corp., has raised the size of its planned follow-on offering this month to P2 billion.In a disclosure to the Philippine Stock Exchange, Basic Energy said it increased the number of shares to be offered to the public to 5.5 billion without an over allotment option. BDO Capital & Investment…
Read MoreBasic Energy Corp. on Thursday announced that it is looking to supply 50 million liters of bioethanol a year to Pilipinas Shell Petroleum Corp. In a statement to the Philippine Stock Exchange, Basic Energy said it signed a memorandum of agreement with Shell “to undertake a joint study to determine the feasibility of entering into…
Read MoreFour out of five pre-qualified bidders submitted their bids for the government’s remaining 60-percent stake in PNOC-Energy Development Corp. The four are: AP Renewables Inc., a partnership between Aboitiz Power Corp. and New Zealand-based firm Mighty River Power; FDC Geo-Energy Holdings Inc., a venture between Filinvest Development Corp. and London’d International Power Masinloc Holdings; Red…
Read MoreFive investors groups will compete for the government’s remaining 60 percent stake in PNOC- Energy Development Corp., the Philippine National Oil Co. said Tuesday. Antonio Cailao, PNOC president, said the five groups who submitted final qualification documents are ACR-AEI Holdings, Inc. (Alsons Consolidated Resources and AEI Investments Inc.), FDC Geo-Energy Holdings, Inc. (Filinvest Development Corp….
Read MoreGotianun-led holding company Filinvest Development Corp. on Friday disclosed that it has submitted requirements to prequalify for the bidding of the government’s stake in geothermal power producer PNOC-Energy Development Corp. “FDC is looking into the investment potential offered by this bidding to provide further value to our stockholders. We also see it as a unique…
Read MoreA total of 24 groups have expressed interest to join the bidding for the government’s remaining stake in the PNOC-Energy Development Corp. (PNOC-EDC). In a disclosure to the PSE on Tuesday, PNOC-EDC provided a list of groups that submitted letters of intent in the stake sale. The interested parties include: ABN AMRO Bank, Israeli company…
Read MoreLocal energy giants First Gen Corp. and the Aboitiz Group are leading a highly-diverse field of 24 potential bidders for the government’s remaining stake in geothermal producer shares Philippine National Oil Co. Energy Development Corp. (PNOC-EDC). In yesterday’s pre-bid conference, others that have signified interest to acquire 60 percent or a controlling interest in the…
Read MoreListed Basic Energy Corp. has disclosed that it will be bidding for the government’s remaining shares in PNOC-Energy Development Corp., the world’s second-largest geothermal power producer. In a statement to the PSE on Thursday, Basic Energy said it has submitted a letter of intent to participate in the bidding of the PNOC-EDC shares. “Basic Energy…
Read MoreBasic Energy Corp., formerly Basic Petroleum Corp., has signed an agreement with BDO Capital & Investment Corp. to be its financial advisor for its upcoming rights and follow-on offering, the company said in a statement on Monday. The offering will fund Basic Energy’s business expansion, which includes the development and production of ethanol and other…
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