ACE Enexor, Inc. has acquired a 75% interest in an offshore exploration contract in Palawan after Energy department approved the assignment by one of the partners of its stake to the Ayala-led company. In a disclosure to the stock exchange, the former Phinma Petroleum and Geothermal, Inc. (PPG) said it had received yesterday the Department […]

MANILA, Philippines — Phinma Petroleum and Geothermal Inc. (PPGI) is taking a bigger stake in Service Contract (SC) 55 offshore West Palawan after one of its partners withdrew from the project. The company, however, is looking for new partners to commence drilling in the gas prospect. In a disclosure to the Philippine Stock Exchange yesterday, […]

AC ENERGY, Inc. is looking to explore opportunities in gas-fired power generation and energy storage as it sees these resources as complementing renewable energy projects by 2025, its top official said. The move comes as shareholders of Phinma Energy Corp. on Tuesday approved the management’s plan to rename the listed firm to AC Energy Philippines, […]

ACE Enexor Inc., formerly Phinma Petroleum and Geothermal Inc. (PPG), wants to bring in a strategic partner to aid the company in its future exploration plans. “We may be bringing in partners in the future. I think the idea is, over time, we will bring in at least one strategic partner. Most likely foreign with experience, […]

THE new owner of Phinma Petroleum and Geothermal, Inc. (PPG) has renamed the listed company to ACE Enexor, Inc. and approved corporate changes to mark the Ayala energy arm’s full take over. PPG told the stock exchange on Wednesday about the name change and other moves, including the election of a replacement director, a change […]