Biggest ‘presidential gift’ to a crony: Ex-Justice Carpio blasts Duterte for giving $4.5B Malampaya to Dennis Uy on a silver platter
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Biggest ‘presidential gift’ to a crony: Ex-Justice Carpio blasts Duterte for giving $4.5B Malampaya to Dennis Uy on a silver platter

Is President Rodrigo Duterte so beholden to Davao-based Dennis Uy that he would give his campaign financier a $4.5 billion gift less than a year before he steps down from Malacanang?

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Retired Justice Antonio Carpio called Uy’s seamless takeover of Malampaya from Chevron and Shell “the biggest presidential gift to a crony” if the Duterte administration, through Energy Secretary Al Cusi, extend the Malampaya oil and gas project under Service Contract 38 beyond its expiration in 2024.

“Ang binili n’ya residual value ng Shell and Chevron (contracts), ‘di kasama ang platform and pipeline. Just because Dennis Uy bought the shares, it doesn’t mean they can use the platform and piprline . The owner (of Malampaya) is not Chevron or Shell… Filipinos tayo ang mayari. Bayaran dapat tayo ni Dennis Uy pag gusto n’ya gamitin yun,” said Carpio in a forum by the League of Broadcasters.

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Uy is taking over 90 percent of Malampaya after agreeing to pay $565 million to Chevron and $450 million to Shell Philippines Exploration for their respective 45 percent share in the power producer.

Former Philippine National Oil Co. president and CEO Eduardo Manalac confirmed that the ownership of Malampaya would revert back to the Philippines after Chevron and Shell’s contract ends in 2024.

No midnight deal: Cusi defends Chevron’s sale of Malampaya stake to Dennis Uy’s Udenna

Manalac said both Chevron and Shell have fully recovered their investments and expenses under SC 38 (Malampaya has a replacement value of $4.5 billion) which does not confer any ownership of the platform and pipeline and the oil and gas reserves to the operators.

“In effect, ang gobyerno ang mayari ng platapormang iyon. Wala pong pagaari ang kontratista. In principle, kontratista lang yan and they are paid in cash. Kung gusto nila umalis, anytime provided they have fulfilled their commitments,” said Manalac.

Pinilit kahit alam na mali! DOE knew Dennis Uy didn’t have financial muscle but still approved his purchase of Chevron’s Malampaya stake

Manalac questioned why the Duterte administration would approve the sale of Chevron and Shell’s stakes to Uy when the government would automatically take over Malampaya in just three years.

“At the the end of 2024, there should be no need for foreign contractors or Uy’s Udenna because this property is owned by government and it can be run by PNOC. Ba’t mo pa ibibigay sa ibang tao ang kiktiain ng Malampaya?” said Manalac in the same online forum.

That is what most national oil companies – Petronas (Malaysia), Pertamina (Indonesia), and CNOOC (China National Offshore Oil Corporation) look for . They will take over it, produce it themselves, and get 100 percent benefit that is what makes them very big…ganyan dapat nangyayari, di na dapat pinagiisipan. Bakit pinaguusapan ang SC contract extension?” Manalac added.

Manalac is backing the anti-graft case filed with the Ombudsman by the group led by bilyonaryo widow Loida Nicolas Lewis against Energy Secretary Al Cusi, PNOC-EC Chief Rozzano Briguez, Uy and his wife Cherylyn, Chevron Malampaya president BelindaRacela, SPEX managing director Paul Michael Nugent, and 19 others.

“Parang ang nangyari may kuntsabahan na maibigay sa isang grupo, whoever he is, etong benepisyo na ito. Gustong umalis ng Chevron and Shell ng mas maaga, di nahintay katapusan…Bakit di kinuha ng PNOC? Bakit di inutusan ng DOE? Bakit napunta dyan sa iligal na paraan?” said Manalac.

 
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