Dahil si Dennis Uy nakabili: Cusi cries harassment over Malampaya buyout graft case
Power

Dahil si Dennis Uy nakabili: Cusi cries harassment over Malampaya buyout graft case

Energy Secretary Alfonso Cusi maintained that the sale of a majority stake in the Malampaya gas-to-power project to bilyonaryo Dennis Uy is aboveboard amid the graft complaint they are facing.

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Cusi slammed the case filed by US-based businesswoman Loida Nicolas Lewis and Rodel Rodis, whom he identified as anti-Duterte.

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He said critics only think the deal was onerous because Uy was involved.

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“Kung si Mr. Oligarch ang nakakuha siguro, walang problema. Pero dahil po si Mr. Dennis Uy is kaibigan, sinasabing crony, ‘yun ang problema,” Cusi told Radyo Pilipinas in an interview.

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

The Energy chief explained that the government opted not to buy Chevron’s 45% stake in the Malampaya consortium as it was such a huge gamble.

“When you are going to buy something, it’s either you make money or lose money. That’s business,” he told Agenda ng Bayan. “Kung meron pa siyang nakukuha up to 2024, kita siya. Eh paano kung wala? Eh kung gobyerno ang bumili?”

Cusi said DOE was not involved with the sale, calling it a “private transaction” between Chevron and Uy’s Udenna Group.

Udenna subsidiary UC Malampaya now owns 90% of the natural gas facility as it also bought Shell’s remaining shares. The project is expected to run dry of oil deposits by 2024.

 
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