Udenna says no transfer of rights, obligations in Chevron transaction

The Udenna Corporation, a group led by Davao businessman Dennis Uy, said there was no transfer of rights or obligations that occurred in the Udenna-Chevron deal on the sale of Malampaya Consortium shares.

According to Ivan Mayrina's report on "24 Oras" on Thursday, Udenna issued the statement in reaction to the Senate's approval of a resolution to file complaints against Energy Secretary Alfonso Cusi and other Department of Energy officials over the approval of the Udenna-Chevron agreement.

"We in Udenna, as we have consistently stated... that the Chevron transaction is a private sale of share conducted at parent company level with no change in the legal entities...nor any transfer of any rights or obligations," said Udenna spokesman Raymond Zorrilla.

Zorrilla added that the Department of Energy's (DOE) approval is not required in securing the transaction.

For his part, Cusi said he will issue a response as soon as he gets a copy of the resolution.

In a privilege speech, Senator Sherwin Gatchalian said Cusi and other DOE key officials are liable for graft, gross neglect of duty and grave misconduct for "railroading the approval of sale of participating interest of Chevron in Malampaya gas field."

Gatchalian, chairperson of Senate committee on energy, said Cusi and his erring subordinates must also resign due to the approval of the shares.

“I call on the Office of the Ombudsman and the Civil Service Commission to promptly file administrative and criminal charges against Secretary Alfonso Cusi, who approved the deal, and other DOE officials who evaluated the Chevron-UC Malampaya deal and recommended its approval,” Gatchalian said. — Consuelo Marquez/BM, GMA News