News Flash

August 31, 2015, Monday
  • CBCP calls on Catholics not to support same-sex marriage. 2 hours ago |
  • 5 mountaineers drown in Nagsasa Creek in San Jose, Tarlac on Monday afternoon. 3 hours ago |
  • Phivolcs records 5 tremors in areas in Southern Mindanao. 3 hours ago |
  • Petron to implement a P 2.25/kilo rollback on the price of LPG on Tuesday. 3 hours ago |
  • Sandiganbayan issues hold departure orders vs. Fmr. Agusan Del Sur Rep. Rodolfo Plaza & 7 others linked to pork barrel scam. 3 hours ago |
  • Binay’s camp claims De Lima is prioritizing political ambition over the resolution of PDAF and SAF 44 cases. 3 hours ago |
  • Binay’s camp calls on Justice Sec. Leila de Lima to resign. 3 hours ago |
  • DILG Sec. Mar Roxas says gov’t & INC leaders have been in contact with one another since the beginning of the rally at DOJ. 3 hours ago |
  • Presidential Spokesperson Edwin Lacierda says INC’s protest peacefully ended through goodwill and convergence of efforts. 3 hours ago |
  • Deputy Pres’l Spokesperson Abigail Valte says talks between gov’t & INC centered on clarification of issues & concerns. 3 hours ago |
  • Palace says there has been no deal made between gov’t and Iglesia ni Cristo. 3 hours ago |
  • Pres. Aquino led the National Heroes’ Day commemoration at the Libingan ng mga Bayani in Taguig City. 8 hours ago |
  • Presidential Spokesperson Edwin Lacierda thanks the INC for ending its 5-day protest rally. 8 hours ago |
  • 9 killed in a collision between a multicab & a truck before dawn Monday in Tacurong City, Sultan Kudarat. 8 hours ago |
  • Pres. Aquino calls on people to unite & set aside personal interests during his message on National Heroes’ Day. 8 hours ago |
  • Bayan Muna Party-list Rep. Neri Colmenares says the right of expelled INC Minister Isaias Samson Jr. to file a complaint must be respected. 8 hours ago |
  • CIBAC Party-list Rep. Sherwin Tugna says DOJ must continue hearing the complaint of expelled INC Minister Isaias Samson Jr. 8 hours ago |
  • Fire kills 6 stay-in workers in a bakery in Taal, Batangas. 8 hours ago |
  • Clean-up of area around EDSA-Shaw Boulevard ongoing following 5 days of INC’s protest. 8 hours ago |
  • Traffic flow now moving along EDSA-Shaw Boulevard in Mandaluyong City. 8 hours ago |
  • Some INC members still trooped to DOJ early Monday morning & left only after INC’s announcement that the protest was over. 8 hours ago |
  • Commuters who were at EDSA-Mandaluyong area about 6 am Monday experienced monstrous traffic jam due to INC rally. 8 hours ago |
  • INC members rejoiced upon hearing their leaders’ announcement at about 8 am Monday that they are ending the protest. 9 hours ago |
  • LRTA says the remaining value stored in the magnetic cards can be transferred to beep cards. 9 hours ago |
  • LRT-2 removes from all its stations the gates for magnetic cards as it paves the way for beep cards. 9 hours ago |
  • Registration for 2016 polls continues in selected malls in the provinces. 9 hours ago |
  • Comelec reminds public to register for 2016 elections before deadline comes on October 31. 9 hours ago |
  • Rains forecast over Central Luzon, Bicol, Isabela, Quirino, Rizal and Quezon. 9 hours ago |
  • Possibility of the LPA near Baler, Aurora developing into a storm remote. 9 hours ago |
  • LPA located at sea 390 kms. east southeast of Baler, Aurora. 9 hours ago |
  • INC evangelist Bienvenido Santiago says INC is concluding its protest as it has reached an understanding with gov’t. 9 hours ago |
  • Iglesia ni Cristo (INC) ends its protest at EDSA-Shaw Boulevard in Mandaluyong City. 9 hours ago |

Petron acquiring Liquigaz LPG unit

By Alena Mae S. Flores | Aug. 15, 2013 at 12:02am
Small players in the liquefied petroleum gas sector expressed concern over the planned buyout of the LPG operations of Liquigaz, a wholly-owned subsidiary of SHV Energy of the Netherlands, by Petron Corp.

Rep. Arnel Ty of the LPG Marketers’ Association said once Petron concluded the negotiations with Liquigaz for the sale, it would corner 70 percent of the LPG industry and become a monopoly.

LPGMA’S members include Omni Gas, Pinnacle Gas, Island Gas, Cat Gas and Nation Gas.

“The problem...why we brought this up [with Energy Secretary Carlos Jericho Petilla] is because we have no Anti-Trust Law. If Petron is able to buy Liquigaz, because it is offering an amount that Liquigaz cannot refuse, they will have a 70-percent market share in the Philippines, and that’s cartel already,” Ty said.

Ty said Petron gave a non-binding offer of $60 million (around P2.6 billion) for Liquigaz’s LPG business, which the other bidders are forced to match.

“They [Petron] doubled the book value while the company is not earning much. The government should look at the picture of what Petron wants to happen,” he said.

Ty said the Energy Department should look into Petron’s acquisition strategy, which was meant to ease out competition.

Ty said after Petron acquired Chevron’s LPG business in 2007, Petron was able to get a 43-percent market share.

Liquigaz captured about 31 percent of the country’s total LPG demand since it was established in 1995, according to its Web site.

‘We’re seeing that Petron may buy Solane [formerly Shellane] next,” he said.

Isla LPG Corp., the joint venture between Itochu of Japan and the Citadel Holdings Inc. of the Delgado Group, acquired Pilipinas Shell’s LPG business in the Philippines for around $131 million.

Ty said he expected Petron to offer Liquigaz in the next few months as much as P3 billion for its Philippine operations to further ease out the other interested players.
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