Senate panel report on Malampaya deal out next week


Posted at Jan 28 2022 09:58 AM

MANILA - The Senate Committee on Energy will release next week the report on its inquiry into two firms' sale of their stake in the Malampaya natural gas field to Udenna Corporation, its chairman said Friday.

The committed had conducted four hearings, with the last one held in December, according to reelectionist Senator Sherwin Gatchalian.

"The whole December and January we crafted the report. It's a 90-page, close to a 100-page report and we already concluded that. We have to make sure we laymanize it so people will understand it. We will already submit the report next week and people can expect that," he told ANC's Headstart.

"The report is going to hold public officials to account."

Dennis Uy’s Udenna Corporation had purchased Chevron’s 45 percent share for $565 million, and Shell’s 45 percent stake for $460 million, for a total of $1.025 billion or roughly P51.77 billion. Udenna's acquisition brings its total shares in the Malampaya to 90 percent.

Uy and Energy Secretary Alfonso Cusi are facing a graft complaint over the deals. The two have also filed cyberlibel lawsuits against news organizations, alleging that they have unfairly reported the graft complaint.