Faces of the News: Nov. 17, 2019

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Dennis Uy

Dennis Uy announced last week that a unit of his Udenna Corp. has acquired the 45-percent interest of Chevron Philippines Inc. in the Malampaya natural gas project. This is not Uy’s first attempt at a foothold in the upstream petroleum business, having initiated a P4-billion share purchase agreement with Manuel Pangilinan’s PXP Energy Corp. over the past year. The deal was “mutually” called off last March, two days before Uy’s deadline to pay up. PXP is now posing a challenge to Udenna’s deal with Chevron as the Pangilinan group is eyeing the use of the Malampaya assets to develop its own Sampaguita gas field at Recto Bank. Chevron has been as reticent, confirming only t…

Keep on reading: Faces of the News: Nov. 17, 2019

The Philippine Daily Inquirer, popularly known as the Inquirer, is an English-language newspaper in the Philippines. Founded in 1985, it is often regarded as the Philippines' newspaper of record.

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