SPEX named most transparent

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    Shell Philippines Exploration B.V. (SPEX), operator of Malampaya gas resource, was recognized by the Philippine Extractive Industries Transparency Initiative (PH-EITI) for excellence in reporting under the oil and gas category.

    The group said SPEX is among the companies that submitted “the best and most comprehensive data, and posted the least discrepancy” in the extractive industry such as oil and gas exploration.

    “For about 21 years now, all facets of our work have always been anchored on honesty and integrity. Be it a small transaction or a substantial one, we always ask all our employees, contractors and vendors to comply with the law regardless of the situation,” said Monet Soriao, Malampaya operations manager.

    In 2019, SPEX was also named by PH-EITI as the top paying company under the oil and gas category with P22 billion total reconciled payments.

    PH-EITI is administered by a multi-stakeholder group chaired by the Department of Finance with representatives from the Department of Energy, the Department of Environment and Natural Resources, the Department of Interior and Local Government, the Union of Local Authorities of the Philippines, Chamber of Mines of the Philippines, Petroleum Association of the Philippines and civil society group Bantay Kita-Publish What You Pay Philippines. – Jed Macapagal