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​Three Philippine conglomerates vie for $3 billion in Chevron energy assets

( November 15, 2016, 03:57 GMT | Insight) -- Chevron Corporation has shortlisted three companies led by the Philippine's biggest conglomerates and two foreign groups for the bid to acquire its Philippine and Indonesian geothermal energy assets, estimated to be worth up to $3 billion, BusinessWorld reports. Chevron Corporation has shortlisted three companies led by the Philippine's biggest conglomerates and two foreign groups for the bid to acquire its Philippine and Indonesian geothermal energy assets, estimated to be worth up to $3 billion, BusinessWorld reports. According to Nestor H. Vasay, the senior vice-president of Lopez-led Energy Development Corporation, the local bidders are EDC and its Japanese partners, Aboitiz Power Corporation and its partner Marubeni Corp., and Ayala-led AC Energy Holdings, Inc. Vasay also said Indonesian firm PT Medco Energi Internasional Tbk submitted a bid, but was unable to name the other foreign bidder. Chevron has the option to award the Indonesian and Philippine assets separately to different bidders, the report added....

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