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Shell unit shuts Philippine refinery as pandemic slashes margins

Shell unit shuts Philippine refinery as pandemic slashes margins Aug 13th, 2020  by John Donovan. FILE PHOTO: Residents transport commuters and soda bottles on tricycles past a Shell petrol station in Las Pinas, Metro Manila, January 26, 2016. REUTERS/Erik De Castro Enrico Dela Cruz: AUGUST 13, 2020 MANILA (Reuters) – The Philippine unit of Royal Dutch Shell said on Tuesday it will permanently shut one of the country’s two oil refineries, blaming a pandemic-led slump in margins, with other regional closures likely to follow, according to analysts. Pilipinas Shell Petroleum Corp said its 110,000-barrel-per-day Tabangao facility in Batangas province, which began operations in 1962, was no longer economically viable and would be turned into an import terminal. Singapore’s complex refining margin, the bellwether in measuring profitability at Asian refineries, has been mostly negative since March prompting many refiners to cut output or temporarily shutter operations. “We definitely see the possibility of more closures in Asia over the next 6-12 months,” said Mia Geng, consultant at FGE, adding that refineries in Japan, Australia and New Zealand could be likely candidates for closure. “Given the uncertainties in demand and our subdued margin outlook, it would be challenging for those less complex and efficient refineries to continue running.” The permanent closure of Tabangao comes after both of the Philippines’ refineries halted operations as coronavirus lockdowns pummelled oil demand. “Due to the impact of the COVID-19 pandemic on the global, regional and local economies, and the oil supply-demand imbalance in the region, it is no longer economically viable for us to run the refinery,” Pilipinas Shell President and Chief Executive Officer Cesar Romero said in a statement. The other local refinery, Petron Corp’s 180,000-bpd facility in Bataan province, has been on a scheduled turnaround since May for maintenance. Energy Secretary Alfonso Cusi sought to allay concern over domestic fuel supply saying Pilipinas Shell is expected to fill its market share through imports of refined products. But a Singapore-based gasoil trader said that imports may not happen anytime soon. “I think they will import a bit more (gasoil) now. But demand is substantially disrupted due to the reoccurring COVID-19 situation.” Wood Mackenzie research director Sushant Gupta said in a note the challenging environment would put pressure on weaker Asian refineries, particularly ones in mature markets, or with little or no integration with petrochemicals. “We could see closures becoming a reality in many markets,” he said. Pilipinas Shell booked a net loss of 1.2 billion pesos ($24.55 million) in the second quarter, narrower than its January-March net loss of 5.5 billion pesos. Its shares fell as much as 6.9% to 16.30 pesos, a one-year low. Reporting by Enrico Dela Cruz; additional reporting by Florence Tan, Seng Li Peng, Shu Zhang and Koustav Samantha in Singapore; Editing by Ed Davies and Richard Pullin SOURCE

Shell shuts down refining to convert into world-class import terminal

Published August 13, 2020, 8:00 AM by Myrna M. Velasco As a tough yet strategic choice to sustain its downstream oil market operations and to withstand the disruptive impact of the coronavirus pandemic, Pilipinas Shell Petroleum Corporation has decided this week to permanently shut down its refining operations in the country — that’s after 58 long years of business presence. The subsequent business transformation it is undertaking is converting its Tabangao refinery “into a world-class full import terminal to optimize its asset portfolio and enhance its cost and supply chain competitiveness.” The Tabangao oil refinery was constructed in 1960; and had been a critical component of Shell’s more than 100 years of operations in the Philippines.

ISINAWALAT NI DUTERTE ANG OLIGARCHY NI DRILON AT NG ACCRA

FROM PRESIDENT DUTERTE'S STATE OF THE NATION ADDRESS 27 JULY 2020. THE PRESIDENT PRESENTED TO THE SENATE AND THE HOUSE OF REPRESENTATIVES ON THIS SONA, LAST PART OF IT LIKENED TO A TEASER SEQUEL TO THE CRUMBLING OLIGARCHY IN THE PHILIPPINES BLAMES DRILON AND ACCRA FOR THE WOES IMPARTED TO THE PEOPLE BY THE WATER CONCESSIONERS AND THOSE COMPANIES IN THE POWER INDUSTRY. HOWEVER, HE MISSED TO MENTION THIS SAME AND/OR ANOTHER GROUP OF OLIGARCHS  TAKE CONTROL OF THE OIL AND MINING INDUSTRY WHO ARE EQUALLY ESPOUSING THE SAME DELETERIOUS AGENDA BUT I HOPE BEFORE THE PRESIDENT FINISHED HIS TERM HE WOULD BE ABLE TO DISMANTLE THEM AND SUBJECT THEM INTO SUBMISSION TO THE WILL OF THE PEOPLE AND TO THE FORCE OF THE LAW AND THE CONSTITUTION. RELATED ATROCITIES BY ACCRA: 1       IN VIEW OF THE REQUIREMENTS OF THE BUSINESS 2       DEFENSE COUNSELS FROM ACCRA LAW DIRTY TRICKS

DUTERTE WANTS TO CALL JESUS CHRIST IN BETHLEHEM ON DECEMBER

FROM PRESIDENT DUTERTE'S  STATE OF THE NATION ADDRESS 27 JULY 2020 WARNING TO TELEPHONE COMPANIES TO IMPROVE SERVICES OR ELSE....

Philippine Congress Officially Shuts Down Leading Broadcaster By voting not to renew the franchise of ABS-CBN, lawmakers silenced a major network that had come under fire from President Rodrigo Duterte. MANILA — Philippine lawmakers on Friday formally shut down the country’s largest broadcast network, the latest major blow against the news media as President Rodrigo Duterte cracks down on outlets that have been critical of his leadership. After 13 hearings, a committee of the House of Representatives — most of whose members are allied with Mr. Duterte — voted by an overwhelming majority to deny ABS-CBN’s application for renewal of its broadcast franchise. The network had been forced off the airin May, after the franchise expired. “We remain committed to public service, and we hope to find other ways to achieve our mission,” said Carlo Katigbak, ABS-CBN’s president and chief executive, in a statement on Friday. He said the network was “deeply hurt.” The president’s spokesman, Harry Roque, sought to distance Mr. Duterte from the decision. “The palace has maintained a neutral stance on the issue as it respects the separation of powers between the two coequal branches of government,” he said. “Much as we want to work with the aforesaid media network, we have to abide by the resolution of the House committee.” Mr. Duterte has accused ABS-CBN of bias, including favoring a political opponent in the 2016 election, and had earlier warned that he would not allow the renewal of its franchise. The president’s critics say he has gone after media outlets that closely documented his drug war, which has left thousands of people dead since he took office in 2016. ABS-CBN ceased operations of its free TV and radio channels by government order after its 25-year franchise expired in May. ABS-CBN still operates a cable channel and internet sites, but the company has told its 11,000 employees that they could be let go by August if its broadcast franchise was not renewed. After the network went off the air, there was a backlash from millions of Filipinos who rely on it for news, forcing the lower house of Congress to rush hearings on the franchise renewal. The government has accused ABS-CBN of illegally operating a cable channel, as well as hiding behind what it called a “corporate veil” that allowed foreign investors to own part of the firm. ABS-CBN has denied the allegations. Fourteen lawmakers who sponsored bills backing the network argued that the hearings had not proven that ABS-CBN broke any regulations that warranted its closure. “Seventy million Filipinos tune to its programs weekly,” they said in a joint statement. “Now more than ever, in the time of a pandemic, we need a vibrant and independent source of information and news to tell the people what is going on.” Nonoy Espina, who heads the National Union of Journalists of the Philippines, said that lawmakers who were seeking to block the franchise renewal had “gripes” to settle. By voting to shut down ABS-CBN, Mr. Espina said, the House “has lost all claim to represent the people and our interests.” The congressional hearings did shine a light on some shortcomings of big media networks, including unfair labor practices and a lack of self-regulation, analysts said. “But legislators have no business to say how media should operate,” said Danilo Arao, a journalism professor at the Polytechnic University of the Philippines. ABS-CBN, he said, “is being singled out.” Phil Robertson, the deputy Asia director at Human Rights Watch, called the decision a “grievous assault on press freedom,” adding, “This move solidifies the tyranny of President Rodrigo Duterte.” The Foreign Correspondents Association of the Philippines said it was a “profoundly dark day for journalists.” As the leading broadcaster in the country, ABS-CBN was known for its prime time flagship news program, “TV Patrol,” as well as soap operas and afternoon variety TV shows. Along with the online news site Rappler, ABS-CBN has been at the forefront of coverage of Mr. Duterte’s violent drug war. Recently, a Manila court convicted Rappler’s chief executive, Maria Ressa, and a former staff writer of cyberlibel. Ms. Ressa, an award-winning former CNN journalist, is out on bail while the case is on appeal, but she could face up to six years in prison. Mr. Duterte has often gone after members of the press that he dislikes. He has called journalists “sons of bitches” and warned that they were not exempt from the possibility of physical attacks. He has accused Rappler of being funded by the Central Intelligence Agency, though he has never offered evidence for that. This week, he accused Ms. Ressa of being a “fraud” and said a new case could be filed against her. He did not elaborate.Recently, a Manila court convicted Rappler’s chief executive, Maria Ressa, and a former staff writer of cyberlibel. Ms. Ressa, an award-winning former CNN journalist, is out on bail while the case is on appeal, but she could face up to six years in prison. Mr. Duterte has often gone after members of the press that he dislikes. He has called journalists “sons of bitches” and warned that they were not exempt from the possibility of physical attacks. He has accused Rappler of being funded by the Central Intelligence Agency, though he has never offered evidence for that. This week, he accused Ms. Ressa of being a “fraud” and said a new case could be filed against her. He did not elaborate. SOURCE: https://www.nytimes.com/2020/07/10/world/asia/philippines-congress-media-duterte-abs-cbn.html

MARCOLETA ASKS NTC WHY ABS-CBN SKY CABLE IS STILL AIRING PROGRAMS

NTC CITE EO 205 BY CORY AQUINO AS THE REASON WHY SKY CABLE IS AIRING PROGRAMS. MARCOLETA REBUTTED EO 205 WAS SIGNED ON JUNE 20, 1987 AND HAD BEEN RENDERED INEFFECTIVE AS THE FREEDOM CONSTITUTION WAS RATIFIED ON FEBRUARY 2, 1987 WHERE THE LAW MAKING POWER BY THE PRESIDENT IS NO LONGER BINDING. HE STRESSED THAT SKY CABLE ASKED CONGRESS FOR A FRANCHISE FOR 25 YEARS WHICH EXPIRED ON MARCH 20, 2020. NOW THAT NTC KNEW THAT THE FRANCHISE WAS ALREADY EXPIRED WHY DID IT LET SKY CABLE TO REMAIN IN OPERATION.