When I first learned that Chevron sold its 45 percent stake in the Malampaya deep water gas to power project, I was quite surprised. Dennis A. Uy, Davao’s favorite son nowadays, quietly acquired Chevron’s Malampaya stake, they said. What I didn’t expect was Chevron’s move in the first place to sell its 45 percent stake in Malampaya. Will Chevron leave the Philippines? One man’s trash after all is another man’s treasure and in the case of the Malampaya stake, DAU — or his lenders — are banking on finding new gas sources within the service contract.

Source: Philippine Star January 19, 2020 16:41 UTC