BusinessWeek Mindanao (July 12-13, 2016)

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BusinessWeek MINDANAO

WE ACCEPT

TARPS

2013 ppi’S Best in Business and Economic Reporting

YOUR Mindanao-wide BUSINESS paper

Volume VII, No. 015

Market Indicators As of 5:55 pm july 12, 2016 (tuesday)

FOREX

PHISIX

US$1 = P47.32

7,937.95

X

1 cent

72.68 points

X

Briefly

Agus privatization THE Power Sector Assets and Liabilities Corp. (PSALM) plans to privatize next year the hydroelectric power plants along the Agus and Pulangi rivers in Mindanao following initial talks with key Cabinet secretaries of the new government. “2017 is the schedule for Agus and Pulangi but subject to confirmation by the new administration,” said Lourdes S. Alzona, PSALM’s officer-in charge, in a recent phone interview. She said she had a briefing with Energy Secretary Alfonso G. Cusi and Finance Secretary Carlos G. Dominguez III to discuss, among others, the need to hasten the privatization schedule of the state’s remaining power generation assets.

2014 ppi’S Best in ENVIRONMENTAL Reporting

Corporation

0915-563-6246

DOE wary of illegal oil peddling in M’danao www.businessweekmindanao.com

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Tue-Wed | July 12-13, 2016

P15.00

By MYRNA VELASCO, Contributor

INDANAO consumers are threatened not just on the safety front, but primarily by the substandard quality of fuel products being peddled by illegal traders. Based on joint data culled from industry players and the Department of Energy (DOE), it was noted that the scale of “oil product peddlers in Mindanao” has been growing at an alarming proportion. “Almost 650 peddlers are present in rural pockets in Mindanao,” data from oil

industry player Pilipinas Shell Petroleum Corporation has indicated. Su ch h a s a l s o b e e n submitted to the energy department previously for its attention and action. Shell will be increasing its operational presence in Mindanao with the scheduled commercial oil/PAGE 11

405-MW OF COAL POWER. FDC Misamis Corp. coal-fired power plant shown under construction at the Phividec Industrial Estate, Villanueva, Misamis Oriental in this file photo. The new plant, the biggest in Mindanao, generates 405-MW and is now synchronized to the island’s grid. (File photo by MIKE BANOS)

Biggest coal plant in M’danao synchronizes with power grid VILLANUEVA, Misamis Oriental – FDC Misamis Power Corporation (FDC Misamis) of the Filinvest Group announces the

Shell’s P6B depot THE Pilipinas Shell Petroleum Corporation will open its P6billion petroleum depot in this trading hub of Northern Mindanao next week, a company statement said Tuesday. In a statement released to the local media, the Shell officials said that the petroleum depot, that took three years to construct since 2013, could store 170,000 cubic meter of petroleum products at a time. The new import facility in Northern Mindanao is scheduled to operate on July 19, which would boost activity at the Port of Cagayan De Oro after most of its cargo clientele.

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ILLEGAL REFILLING. Different brands of LPG cylinders were found in the Maramag warehouse for illegal refilling. photo supplied

Group asks DOE to check LPG industry watchdog By BENCYRUS G. ELLORIN, Contributor

A CONSUMER group has lauded the police in Bukidnon for its successful crackdown on illegal liquefied petroleum gas (LPG) refilling even as it asks the Department of Energy (DOE) to check on industry players engage in illegal trade of cooking gas.

Seized in the June 10 raid in Maramag, Bukidnon were a bulk tank containing four tons of LPG and an 8-tonner LPG tanker owned by Petronas Energy Philippines with plate number CRW 587. The tanker was filling the bulk tank at the check/PAGE 11

successful synchronization of the first unit of its 405 MW flagship project, the biggest power plant in Mindanao. “This is in line with the

Duterte’s administration’s thrust to promote regional growth most especially in Mindanao,” FDC Misamis power/PAGE 11

Norfolk City official reciprocates sisterhood exchange program By MIKE BAÑOS, Editor-at-Large

CAGAYAN de Oro City and the City of Norfolk, Virginia in the United States moved forward with their sisterhood partnership with the recent visit of Sandra Choi from the Norfolk City Department of Development. During the course of her visit to the city from July 7-10, Ms. Choi met with local business leaders and toured the city and Misamis Oriental. Ms. Choi manages Norfolk’s International Trade Program as its program/PAGE 9

SISTER CITY. Mayor Tinnex Jaraula gifts two of his books for the City of Norfolk through Sandra Choi at his residence in Bgy Indahag. (Photo courtesy of Rich Neri Concepcion)

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