It was the first time that President Duterte has personally commented on the Malampaya issue since the Senate began hearings in November 2020. Read:
It was the first time that Duterte has personally commented on the Malampaya issue since the Senate began hearings on the Chevron sale in November 2020.
According to the DOE, Chevron’s share was acquired by UC Malampaya for $565 million. The two companies agreed on the sale in 2019 and this was approved by the DOE early last year. “Once again, for the record, I assure everyone that I am ready to face any and all charges brought against me in the proper forum. I am prepared to explain and prove that all of the actions of the Department of Energy regarding the sale and transfer of shares of Malampaya are legal, aboveboard, and in accordance with the powers and mandate of the department,” Cusi said.
Located off northwest Palawan, the Malampaya field fuels five power plants on Luzon Island with a combined capacity of 3,200 megawatts. The gas field’s reserves were expected to be commercially depleted by 2027.
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