Chevron Malampaya deal can be voided

Chevron Malampaya deal can be voided - DoE

By Javier Joe Ismael

Nov 10, 2020 5:39 pm

THE Department of Energy (DoE) said that the sale of Chevron Corp.’s 45-percent stake in Malampaya worth $565 million to UC Malampaya LLC is “voidable.”

During a Senate hearing, Energy Assistant Secretary Leonido Pulido 3rd said that the Chevron-Udenna deal sealed on March 11, 2020 could still be voided if it will not be approved by the DoE.

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