Recto Bank, an underwater reef in the West Philippine Sea, remains an enigma. Little is publicly disclosed about it beyond its geology, oil and gas potential, and the decades-long struggle between the Philippines and China for control of its surface waters and the rich hydrocarbon deposits in its depths. One thing is clear, industry experts...
Tag: electricity prices
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The tycoons behind the Philippines’ dirty energy
From brewing beer to burning coal, the food and beer giant, San Miguel Corp. of tycoon Ramon Ang, is now one of the Philippines’ largest power producers. Its energy arm, San Miguel Global Power, is a younger player in the industry. But, flush with cash, it aggressively built, acquired, and expanded power plants over the...