DOE to Gatchalian: ‘Lutong macau’ accusation ‘misguided’

MANILA—The Department of Energy on Tuesday said it did not break any law when it approved the sale of Chevron’s stake in the Malampaya project to Udenna Corp.

The agency said that when the sale was being evaluated it looked at the financial soundness and capability of Chevron Malampaya LLC since it would implement and operate the service contract with the DOE, even after its shares are now owned by another corporation. He said 2 Udenna Corp. subsidiaries — UC Malampaya and UC38 — were evaluated separately for their legal and financial capabilities, respectively.

The agency said the Senate inquiry is causing "undue delay to the timeline of the consortium corporations," which may put the country's energy security at risk.

more billion from taxpayers given to Dutae Oligarchy

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