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PNOC to evaluate Ashmore offer to buy Petron
Ashmore offer a vote of confidence – GMA
Malacañang statement
A US investment fund, Ashmore, has bought Saudi Aramco’s 40 percent stake in Petron Corp. for P22.5 billion. The deal is nobody’s business but Ashmore and Aramco’s. Gloria Arroyo, however, would not leave a presumably purely commercial transaction well alone. She said the purchase validated the government’s privatization efforts and was a vote of confidence in Petron.
Had Ashmore bought the government’s 40 percent share in Petron, there would have been reason to link the deal to government’s privatization efforts. That would have brought in P22.5 billion in cash to the Treasury, and government would have finally got out of one of the few big businesses that continue to be in state hands. Or Ashmore could have made a tender for the 20 percent of Petron in the public’s hand. That would have meant a direct inflow of foreign investment funds.
Vote of confidence in Petron? There was a seller and there was a buyer. Ashmore buy-in is certainly a vote of confidence. But the same cannot be said of Aramco. We don’t know if it earned or lost at the price of P6 a share. What we are sure of is that it pulled out of the country, a divestment that can be interpreted as a loss of confidence in Petron.
Of course, we cannot rule out the possibility that Ashmore bought the Aramco stake on behalf of one of the Saudi princes or even the Saudi royal family as part of a global re-structuring of Saudi assets to sort what are privately owned and what are state owned. Aramco is owned by the Saudi government which is not exactly running out of cash. So it was downright inconceivable for Aramco to sell its stake in Petron. At current exchange rates the sale was worth $550 million, just petty cash by Saudi reckoning.
Earlier we said that the deal was none of our business. That’s not exactly right. The reason the Ramos administration sold 40 percent of Petron, which used to be wholly government owned, was first, to raise money and, second, to secure a strategic partner which could ensure supply of Petron’s crude requirements. The global oil supply crunch has not improved since the early 1980s. In fact, it has worsened, with crude now hitting $100 a barrel. Petron, thus, needs a strategic partner-supplier all the more.
Petron officials yesterday gave the assurance that Aramco would continue to honor its supply commitments to Petron. The word used by the officials was “in perpetuity.” But in business, relations do not last forever.
Petron has lost a strategic partner-supplier. That’s the bottom line in this transaction. No Palace PR spin can change the fact.
Yes, the more important question is, why did Aramco get out of Petron?
BTW, Mike Defensor is now director of Petron.
Ellen,
Do you know how much he receives by way of fees, stipends, perks and all the blahs which come with sitting on the board of Petron?
Tantalizing question compels an answer. Your BTW is short, direct and to the point.
Anna, it should not be less than P200,000 a month. But I’ll ask.
And that doesn’t include the perks and other benefits.
For your information, Mike Defensor is also one of the managing directors of GEOGRACE REOURCES PHILIPPINES, INC. also listed on PSE as GEO.
Wise move by Malacanang. Since Mike Defensor cannot be given a cabinet position within a year of election defeat, he’s given position in other government subsidized firms. So,why be surprised Mike played a role in Jun Lozada’s abduction? Why be surprised Mike gave Jun P50,000? The money came from Malacanang, not his.
If we will go strictly by the rules, a defeated candidate cannot be employed nor receive any remuneration from government or government controlled corporation or entity within a one year period. Not just for cabinet portfolio but any position, whether casual, contractual or consultancy. But as we know, there’s always the usual palusot there. Dyan magaling si gloria at ang kanyang operatives. Sasabihin dyan, Petron is not a government controlled corporation. Or as Director, Mike D does not receive kahit isang pera. Voluntary service kuno.
Mike Defensor served his best, and still serving, as a Malacanang defended. Would you not reserve the best for your K9 if it is loyal to you and protects your household?
sorry I mean defender
I wonder how much Binggot is getting hanging around Malacanang all the time even when he he cannot be employed in principle by the government after his embarrassing defeat. Filipinos should watch out for this guy who is not any better I guess than a street hooker.
Kawawa naman ang mga anak niyan. Pati yata iyong Mrs. walang pag-asang magturo ng matino sa mga anak, and all for the love of money. ‘Kakasuka!
What Gloria Arroyo Should Have Learned in Assumption Kindergarten!
Teachers are always looking for those opportune moments in time when real life provides a chance to give students a rich example to consider. For those who teach history as well as those who seek to teach the development of character, there has perhaps been no greater opportunity to teach about Leadership or about Ethical decision-making than to follow the recent issues surrounding Gloria Arroyo.
Her tenure as President is fraught with glaring examples of her inability to separate her personal agenda and ambition from right and wrong. As the person expected to be the symbol for the rule of law in the Philippines, her blatant disregard for the law will make her a future case study for those who seek to teach ethical decision-making.
One should ask whether Gloria ever learned the basic values which little toddlers learn in kindergarten:
*The Golden Rule
*Be honest !Don’t tell a lie!
*Don’t take things which aren’t yours!
*Play Fair
*Respect Others:Remember the three “R”s – Respect for self; Respect for others; and Responsibility for all your actions.
*Don’t hit people
*Share: Help the needy
*When you go out into the world, watch out for traffic, hold hands and stick together .Think of others ,not only of yourself.
Tibang-tiba pala si Mike Defensor sa laki ng sahod.Nakakalula kumpara sa ordinaryong mang gagawa na wala pa atang sampung libo isang buwan.
Gloria is the Queen of Deception.. If Gloria said it is a vote of confidence then what it really mean is a loss of confidence in Petron as pointed out by Malaya Editorial. Ashmore did not buy government’s 40 per cent share in Petron which will brought in $550 M to public treasury nor did Ashmore buy 20 per cent of public’s share in Petron which will result in direct inflow of foreign investment. What Ashmore did, a financial investor, is buying out the 40 per cent share of oil supplier Saudi Aramco at a DISCOUNTED PRICE of $550 M which is a DIVESTMENT, a bail out due to loss of confidence .
Saudi Aramco is desperate to get out of Petron that’s why they sold it at a discount. How can Gloria consider this as a vote of confidence?
The question now is “Who will replace Saudi Aramco as oil supplier of Petron?”
Sooner or later Saudi Aramco will turn off their oil pipeline to Petron.
Now if another oil company comes in to Petron brokered by Chinese coming from oil producing country in Africa or South America. That means Gloria will make an evil bitch tongpats and had planned it all along.
Thank you xman. Mukhang ganun na yata ang mangyari. Hindi natin masabi baka mahal pa ang langis na i-supply sa Petron. Gigisahin sa sarili mantika.
xman,
lahat nang sinasabi at ipinangangalandakan ni gloria ay kabaliktaran ng tunay na nararamdaman ng taong bayan. hindi niya matanggap na sa ilalim ng kanyang pamumuno ay nakamit ang kaunaunahang pagiging numero uno ng pilipinas sa buong asya, ang pinakatalamak sa katiwalian. hindi niya ito matanggap subalit parang ipinagmamalaki pa niya at ng kanyang mga alagad at kapanalig.
maliwanag na ang pagtiwalag ng saudi aramco ay isang pahiwatig ng kawalang tiwala sa katapatan ng paglilingkod ng administrasyon ni gloria.
How can any foreign investor survive any business in the Philippines when the corruption is at its peak. Some of these investors will sell out their interests at a discount just to get out. If the profitability of a business is very negligible mainly due to corruption, what is the point of running it.
The fact that Mike Defensor is now with Petron, I smell the Evil Bitches’ interest in the corporation. Baka may mga dummies na si Evil Bitch sa Petron. It will not be remote. Her brother can easily do the take-over for her.
the problem with this blog and most people in it are their promiscuous solicitation of anti-government stories and insinuations. Kahit ano basta bastusan sa gobyerno, kahit walang basehan man yan..maniniwala agad. And these people are the ones who clamor for transparency, truth and justice annoyingly everyday…it peeves me sometimes. c’mon dude, we can do better than this!
“c’mon dude,” – duren
Stop imitating Americans, you’re asian, don’t humiliate yourself.
-wink
Aramco did not bail out from financial distress. It bailed itself out from Korap Gloria!
Received this on the text.
Special Prayer for Gloria Macapagal Arroyo:
Aba naman Gloria puno ka ng GRASYA! Ang YAMAN ng bansa ay SUMASAIYO Na.Sa HUSAY ni Garci naging pekeng pangulo ka! Bukod kang mandaraya sa babaeng lahat. Pinagpala ring mangurakot, asawa mo’t anak, kaya wala ng natira s Amen.
sabi ni loreLIE fajardo, remember the 9th commandment: “thou shall bear false witness against thy president.”
tama nga naman. huwag ninyong sasabihing nangungurakot si ma’am. bad ‘yun.
ma’am is working very hard to have our economy soar to its peak. look at their bank accounts, they’re getting fatter and fatter everyday because of so many projects funded by foreign loans. no, don’t ever think they are accepting bribes, they are only commission-ers who are doing their job as directed by ma’am because she does not like his beloved husband to be again (and always) the center of criticism because he is not a public official and has no authority to meddle in any government affairs even using the people’s money in going to USA to see the fight of pakyaw and sleep in a million wothr per night hotel suite.
sabi ni loreLIE fajardo, remember the 9th commandment: “thou shall bear false witness against thy president.”
tama nga naman. huwag ninyong sasabihing nangungurakot si ma’am. bad ‘yun.
ma’am is working very hard to have our economy soar to its peak. look at their bank accounts, they’re getting fatter and fatter everyday because of so many projects funded by foreign loans. no, don’t ever think they are accepting bribes, they are only commission-ers who are doing their job as directed by ma’am because she does not want his beloved husband to be again the center of criticism since he is not a public official and has no authority to meddle in any government affairs and use the people’s money in going to USA to watch the fight of pakyaw and sleep in a million peso worth per night hotel suite.
nagkadoble naman ngayon ang post ko. ‘yung iba naman eh, nawawala. parang si islaw. lulubog lilitaw sa sobreng makapal.
naduleng na ako!
“thou shall NOT bear false witness against thy president.”
duren,
kaya naniniwala kang hindi nangungurakot sina gloria dahil walang basehan?
paanong magkakaroon ay pilit pinagtatakpan?
I am surprised there is a container port at Malacanan. I dont mind it a part of Saudi divestment.
duren: in your definition of liar and irresponsible..I ask again..will you answer this..is Gloria Macapagal Arroyo your beloved president a LIAR? or IRRESPONSIBLE? OR BOTH?
Tell the truth..in YOUR definition…I know you can not answer this..tanga ba ang mga bloggers dito? Hinding hindi kaya nag bablog ka dito you must be smart.. Ay mabuti pa iha/iho/o ano ka duren..matulog ka na lang ng mahimbing..in other words Sleep night, rest in peace and goodnight!.
duren: tama ang kasabihan…truth hurts! but the truth will set us free…kasi mukhang nasasaktan ka “it peeves me sometimes” ang sabi mo sa itaas..come on just be true to yourself..”It is in dying that we are born again” Happy Easter..May you have peace..Rest now and be born again is my wish for you..
Equalizer: I am sure itinuro ang lahat na sinabi mo sa itaas sa Assumption..kaya lang either absent si Gloria, or she just does not give a hoot..anak siya ng president and a very privileged kid and my pagka brat (a big rat). Even if Cardinal Rosales issued the pastoral statement..hindi papansinin ni Gloria..ang sabihin pa nga seguro..pader why are you forsaking me..why are you priests abandoning me? Uhaw pa ako sa pera, greed and power. Kulang pa ang dasal natin sa Unity in finding the truth..but come to think of it her classmates met in Assumption for Unity for truth pero hindi ata nag attend..wonder why.. busy?
To: Duren and Malacanang evil resident and her cohorts
You shall not commit adultery.
You shall not steal.
You shall not covet your neighbor’s house; you shall not covet your neighbor’s wife, nor his male servant, nor his female servant, nor his ox, nor his donkey, nor anything that is your neighbor’s.
Do you need proofs?
duren: I read your response to my question in the other thread..”You do not consider Gloria a Liar or Irresponsible!” Was that what you mean? And you made reference to “Liar” and “Irresponsible” for journalists in that thread..She is not a journalist..hindi siya sakop sa topic doon..pero generally for all including you and I is Gloria a Liar or irresponsible? iba ba ang definition mo for journalist at iba din sa Presidente? Do you have a different definition of “Liar” or “responsible” for Gloria?
Thanks…
truth hurts daw.sa akin applicable yung lies hurt million times…hehe. Kung nasaktan ka nga sa katotohanan ano kaya kung kasinungalingan ang pinaniniwalaan ng kaharap mo.
To: Duren and Malacanang evil resident and her cohorts
You shall not commit adultery.
You shall not steal.
You shall not covet your neighbor’s house; you shall not covet your neighbor’s wife, nor his male servant, nor his female servant, nor his ox, nor his donkey, nor anything that is your neighbor’s.
And also to you.
And also to you
Pakibigyan lang po ng Piso itong Duren na to para pambili niya ng kausap niya. Ganyan ka lang kamura Duren.
Pasensya na Etnad..hindi ko gawain ang mang insulto eh. Pinalaki ako ng maayos ng magulang ko. Rumespeto sa katotohanan at hwag mang api ng kapwa. Peace nalang sayo.
Oks ka rin Adre, pero kung ang paniwala mo ay iba, maghanap ka ng ibang site huwag dito. Mukhang hindi ka naman yata welcome dito sa Ellenville. Kung iba ang pananaw mo gaya ng sabi mo na iba ang pagpalaki sa iyo ng mga mahal mong mga magulang ay humanap ka ng katapat mo. Pati magulang mo idinamay mo pa.
Bakit dinidelete yung mga posts ko? So much for truth and justice ha. Off topic daw ako parati. I have never been off topic, the general topic of this blog is truth and justice and I will always comment and give my opinion about that subject. Tamaan na yung tamaan. Sabi nga naman dito…truth hurts. And let me remind everyone that I never insulted or maligned any of the bloggers here kahit kayo ang walang sawang nangiinsulto sa akin. I give my opinion to constant subjects, media, journalists, oppositions at mga kalaban ng bayan ko. Be true to what you say, and stop insulting people who are against your opinion..hindi na tayo mga bata.
One thing I’ve learned about evil Gloria’s apologists, they’re nothing by robots, not capable of thinking for themselves. They’ve no feeling whatsoever, shameless and their minds are program only to do one thing to protect evil Gloria, no matter what the cost. They’re like leeches, parasites if you will, there only agendas are to create confusion and chaos. Majority of them couldn’t distinguish the right from wrong. They’re taught that corruption, stealing, lying and cheating are part of growing up. Hence debating with them or having civilized exchanges I would considered a waste of anyone’s time. Sadly, it’s inhumane to even think of exterminating all of them. However, the mother queen of all evil, illegal occupant of the People’s House must be the only purpose for being in this blog, and all others are irrelevant. They don’t exist. Ignore them they will go away.
Honestly, I would rather prefer the suggestion of MR. Cuevas, kahit hindi nyo pansinin yung posts ko walang problema, ang mahirap ay yung dinidelete yung opinion mo. I would rather be left alone than strip of my right to express any opinion in public without repression.
duren Says:
March 15th, 2008 at 11:19 pm
Pinalaki ako ng maayos ng magulang ko.
Hmmpp? Hindi kaya masamang magulang din ang magulang mo Duren? Bulag din sa katotohanan masgustong ipagtangol ang mga nangungurakot ng kaban ng bayan.
Mga ka blogger huwag na ninyo isama ang mga magulang kung hindi ninyo gusto ang comments ng ibang tao. Iyun mismong tao na lang ang tirahin ninyo at huwag ng idamay ang mga magulang. Hindi naman tama siguro iyun. Opinyon ko lang kahit hindi ko gusto ang ibang sinasabi ni Duren ay di ko na idadamay ang magulang niya. Panget din kung pati magulang ninyo ay idamay diba. Personal na masyado at parang batang isip ang kinalalabasan nyo.
below the belt yun ah…tsk tsk.
Sa kahit anong drama, mayroon protagonist at meron din antagonist. Kung sino ang bida sa iyo ay kontrabida sa akin at vice versa, ganun lang ka simple yun. Insultuhin nyo man ang mga magulang ko, hindi ko papatulan yan…we have built our family name based from respect and your accusations are not enough to blemish it.
salamat vonjovi2
Ellen,
Tanong ko lang totoo bang ang balita na ang mga pro-Evil Bitch na mga ASSUMPTIONISTA ay pati ang mga bata na alumni nila ay naka signatures na kakampi para kay Gloria. Nakakahiya naman kung totoo sabagay magaling sila roon sa dayaan. Pati ang mga Unity Walk ng mga bayaran estudyante ay nagawa na nila. Tanong nga ni REP. Villanueva kung saan galing ang ginatos ng Malancanyan dahil mahigit 5 milyons ang ginastos daw. Kailangan pa bang mag isip kung saan galing ang pera di sa CASH ADVANCE nila sa broadband saan pa.
Opps. Corrections..
Mga PATAY na ALUMNI na ASSUMPTIONISTA ay naka sign para kay Gloria.
Re: Sadly, it’s inhumane to even think of exterminating all of them.
Bakit tao ba ang Tiyanak ? Exterminating all of them is a radical solution to save our nation from further damage. The Philippine government constantly tries to solve malignant corruption with Band-Aid solutions (tapal-tapal remedy). Band-Aid upon Band-Aid upon Band-Aid won’t go anywhere.
If I may also add, with evil Gloria’s apologists mentality, they couldn’t careless about winning or losing a discussion. By giving them a platform they feel they’ve already won. It’s not there purpose to prove the opposition are wrong, there only objective is to disrupt. Imagine, any intelligent individuals with clear understanding of secret deals made by evil Gloria with the Chinese, e.g. ZTE-NBN, stinking Spratly deal, et al. will come to the same conclusion that the deals were made to profit themselves and not to help the Pilipinos, or else the deal would’ve been publicized at the very beginning, yet evil Gloria made sure it was done to deceive the people.
mga ka-blogger ko,wag nang patulan ang mga masasamang ispiritong pumapasok dito sa ellenville.mga walang mapasukan yang mga yan dahil mainit na mainit na sa impyernong kinalalagyan nila.for sure,wala namang magagandang comments na ilalabas dito ang mga yan kundi mga nonsense na pagkontra lang.mga bayaran ni tiyanak yan.sa lahat ng sector ngayon nakakalat na ang mga bayaran at nasubuan ng salapi ni donya gloryuck.
masahol pa si gloryuck sa diktador na si marcos.lahat ng bakas ng nakalipas ni marcos kinokopya ni tyanak.magbayad at maghakot ng mga nagrarally para sa kanya.mga paid advertisement of support kunwari sa kanya ng mga ganid sa perang national at local officials,mga unity walk ek-ek na alam naman ng publiko na peke kagaya nya.sino pa ba ang susuporta kay gloryuck ngayon kung hindi sya magpapakawala ng pera,wala na.
Good Morning Philippines. Talaga namang napakainit ang sagotan ngayon dito ng mga kaibigan nating bloggers. Napasabak ‘ata si Duren sa ratratan ng kurokuro. May laro kami kahapon na Guess Who ng mga kasama kong nurses sa pansitan ni aleng Puli.Hindi ko nasagot iyong huling tanong kaya pakisagot na lang kung puwedi.
1. Ako ay nakangiti sa entablado sa harap ng mga tao, lumuluha naman sa likud ng kurtina.
2. Ako ang nagsabi Comission mo nabisto ko, kung hindi ukol hindi bubukol.
3. Kapag binibimbang kayo ni Duren natutuwa ako, bakit kaya kung siya ang binabanatan ninyo nagsisikip ang dibdib ko. Mahal ko ba si Duren o guilty lang ako. Sino ako?
Dr. Kwak,
Gamutin mo nga lahat dito. Di kaya ng exorcism anymore.
Kung ang isang lipunan ay anak ng Inang Bayan, ano na lang si Judas sa Mahal na Araw?
vonjovi2 & duren:
Fiesta kahapon ng Mahal na Poong San Jose sa Barangay namin sa Mandaluyong, ikukuwento ko sana sa inyo ang naranasan ko sa mga kapitbahay ko. Pero dahil sa myembro ang Nanay ko ng Kababaihan, itatago ko na lang.
Akala ko ba sa election lang nabubuhay ang mga patay and voted. Sa listahan ng Assumption ay may mga patay na nabuhay pro-Arroyo? At may mga bata ba? Hindi ba ganoon din noong election sa Mindanao..Amazing..ano ito a miracle? napaaga ang pagkabuhay? ngayon lang umpisa ng semana santa..
As the old adage says, “Hindi puedeng magbunga ng manga ang santol.” This definitely is wisdom enough of what kind of children are born of good or bad parents. Children somehow are the reflections of their parents whose looks they may inherit and ways they emulate.
In the case of the Pidals, it is no wonder that their children have grown up with weird imaginations and thoughts (mentality), not knowing good from evil, virtue and vice, right and wrong. The parents are as weird, and worst, as evil as they are liars, cheats, robbers and thieves who cannot be caught because they have conveniently placed their fellow robbers and thieves in agencies responsible people like them to prison, and these people also likewise responsible for legalizing theft and robbery. 😛
…reponsible to put people like them (Pidals) to prison….
It’s more like the robbers and thieves running their own show for their own selfish vested interests.
Believe you me, Rose, when the son ran as Vice-Governor of Pampanga, the name of the grandmother (Eva Macapagal), who was dead by then, was found in the list of voters for that year.
A friend from Pampanga told me that the same name appeared in the voters’ list again in 2004. It must have been the same likewise in the Iligan City list where the mother lived for a time when she was married to her first husband and said to be having some tryst with some men.
Whadyaknow, the Pidals must have been double voting, too, at places withere they are registered as residents. Hindi naman nakapagtataka kung mandaya sila with the rate they are going presently cheating and lying even under oath!!!!
Dr. Kwak: “Sino Ako?” Sino pa kundi anak ka ng tatay at nanay mo.
panalo si manny pacquiao, ang tinaguriang pambansang kamao at ginagawa ng malakanyang na sagisag ng pagkakaisa at katahimikan dahil samasama sa panonood ng kanyang laban ang buong sambayanan.
tuwang tuwa na naman dahil nanalo na naman ng limpak si mike arroyo (gamit bilang puhunan ang salaping kinupit mula sa atin), ang asawang sinungaling ng panggulong takot humarap sa katotohanan, si gloria, ang simbolo ng katiwalian!
duren,
naniniwala kang hindi nangungurakot sina gloria dahil walang basehan?
paanong magkakaroon ay pilit pinagtatakpan?
kapag mayroong sumisingaw na alingasaw ng kanyang bahong kinasasangkutan, ano ang ginagawa ni gloria, di ba’t kabikabilang kodakan na kunyari ay merong kung ano’ng hinaharap at pinagkakaabalahaqng proyektong para sa mahihirap? at pagkatapos, ano? tuloy ang ligaya? kurakot na naman?
maawa ka naman sa amin, kaming mga pobre ang nagdadala at nagpapasan ng bigat ng pagbabayad ng mga foreign loans na sa bulsa lang nila napalagak!
Vonjovi, my Assumptionista friends said it’s true that many of the signatories in the pro-Arroyo Asummptionista ad were dead. Some didn’t give their permission. They were just asked, “Are you for truth?” Of course they said yes. Then they were made signatories to a manifesto of lies.
Some were also were not Assumptionistas.
I’m amused. Away ng mga Assumptionista.
But then who is Gloria Arroyo fooling?
I read that we had the lowest foreign investments in 2007. Takot ang mga foreigners sa sobrang kotong and also the security. When the AFP and PNP are personally used by the leader of the land as its own bodyguards, nakakatakot nga talaga!
Wasn’t the Evil Bitch in Saudi not too long ago and even stayed in a 7 star hotel courtesy of the royals? Baka naman naghanap lang ang Evil Bitch ng partner dun to take over the 40 % interest sa PNOC. Siempre may tongpats na naman siya.
All our auditing arms should look into all the dealings of this Evil Bitch. She has all her sticky fingers in all transactions, basta pagkakaperahan.
The fact that Mike Defensor is enjoying a position and perks at the PNOC indicates that indeed the Evil Bitch is lording over the PNOC too! Kung nasaan yung dalawang Mike(si Fatso and Defensor), tiyak nandyan ang maliliit na kamay ni Evil Bitch. Maliliit nga ang kamay niya( I actually shook hands with that Bitch about three years ago at ang kamay niya ay kalahati lang ng kamay ko!)pero kung sa nakawan, kasyang kasya sa butas( kahit na pinakamaliit na butas) basta may perang mananakaw!
Valdemar,
Mataga at mahirap gamutan itong sakit ng bayan natin. Hindi ito kaya ng Kisspirin, yakapsule, at virgin coconut oil. Ito ay mag-umpisa sa puso ng bawat mamayan, magka-isa sa ngalan ng hustisya at katotohanan, magmalasakit sa pera ng bayan, bantayan ang mga nangungurakot at lahat ng sanhi ng katiwalian, huwag makibahagi sa lagayan kahit sa anong paraan at pakinabang, at higit sa lahat tumayo bilang isang bansa at lansagin ang umiral na sistemang bulok at political patronage. Marami pa diyan ang dapat gawin, itong mga nabanggit ko katiting lamang. Pero maari tayong mag-umpisa sa maliit. Maari nating pagsamasamahin ang ating mga naiisip na kaparaanan. Tanggapin ng maluwag ang ponto de vista ng bawat panig. At higit sa lahat, ano mang gawin natin para sa bayan ay ginagawa natin ito hindi dahil sa ating pansariling kapakanan kung hindi para sa bayan.
“Ellen Says:
March 15th, 2008 at 7:44 am
Yes, the more important question is, why did Aramco get out of Petron?
BTW, Mike Defensor is now director of Petron.
maaring eto ang dahilan kung bakit binenta ng aramco ang share nila sa Petron.”
200Thousand a month para sa tao ni evil bitch!! di lang basta tao ni evil bitch ang pagkakaalam ko ke Mike Defensor. Special na tao yan kay Evil Bitch. Di o lang malaman kung bakit nasisikmura ng asawa ni Mike ang pagiging special na tao ng kanyang asawa ke evil bitch.
DOE press release:
(Taguig City) Department of Energy (DOE) Secretary Angelo T. Reyes, in a statement regarding the expression of Ashmore Group to buy out Aramco Overseas Co.’s (AOC) equity in Petron Corporation, said that while he laments the proposed sale he looks forward to working with the Ashmore Group should the sale be consummated. “This deal is still a work in progress, The Philippine National Oil Company (PNOC) has 60 days to decide whether they will exercise their right of first refusal, during which they will evaluate the terms and conditions associated with this offer,” he stated.
The Ashmore Group has assets under management amounting to almost $40 billion. PNOC President, Antonio M. Cailao, describes them as an “astute investor,” with investments located globally, mostly in the developing markets but more importantly, their historical returns are much higher than comparable fund managers. Moreso, they were one of the few investment managers who were not hit by the US recession.
PNOC recently received a notice from AOC that it will sell all its shares amounting to a 40% stake in Petron Corporation. The Ashmore Group offered $550 million for the Petron shares and has assigned SEA Refinery Holdings, an Ashmore Group owned-company, as the purchaser. AOC has accepted this offer.
Petron Corporation, the biggest oil refinery in the Philippines, was previously owned 100% by the national government until 40% was sold to Saudi Aramco in 1994. A small portion was sold to private individuals and PNOC has retained a 40% stake in the oil firm.
AOC is currently a party to the Shareholders’ Agreement which prescribes the manner by which the shareholder relationship between AOC and PNOC in Petron is to be governed. This agreement was made on March 4, 1994 by the time the government’s shares were bought out.
At this point, AOC has the prerogative to sell their stakes and PNOC can either concur with the sale or match the price offered for it.
ipagbibili ang share 40% ng PNOC, kanikaninong bulsa at bank account kaya mapupunta ito?
tsk. tsk. tsk.
wala ng ari arian at pananalapi ang gobyerno.
duren Says:
March 16th, 2008 at 12:19 am
below the belt yun ah…tsk tsk.
Salita lang yan Duren pasensya kana. Papaano kaya Duren kung ikaw ay nawawalaan ng magulang o anak dinukot o pinatay ano kaya ang pakiramdam mo at hindi mo alam kung sino ang maykagagawan. Yan ang masmatindi sa below the belt. Na lagi mong pinagtatangol ang amo mo na mas matindi pang tumirada walang pasabi hindi nag sasalita, malihim hindi mo alam kung ano ang ipagagawa sa kanyang mga alagad.
The sad part in all the government sell out is that the potential buyers ay sila sila rin! These are dummy corporations owned by none other that the Evil Bitch and her mafia gang. If the buyers of the 40 % share are simply middlemen, meaning they still have to buy the oil from a source, lalong naloko na! We need oil rich companies to help us with the supply of oil at all times. Another oil rich investor should replace Aramco and not just these group of dummies calling themselves “investors”. Imagine how many fingers will be on the pie?