Basic Energy Corporation is a publicly listed holding company in the Philippines, with business interests in various fields of renewable energy and alternative fuels, and oil and gas exploration and development.
50 years since the company was established, Basic Energy has undergone a dramatic transformation from an operating company into a holding company. Aligned with its primary purpose of developing alternative and renewable energy sources, the company changed its corporate name to Basic Energy Corporation from Basic Petroleum Corporation in 2007.
Basic Energy continues to fuel the Philippines’ vibrant energy sector with the breadth and depth of its projects and technical knowledge. The Company aims to be the leading developer of alternative and renewable energy, oil and allied products and services in the country.
Real estate company MAP 2000 Development Corp. (M2DC) has signed an agreement to acquire 67 percent of Basic Energy Corp. (BSP). BSC said in a disclosure to the Philippine Stock Exchange that the agreement allows M2DC to acquire about 9.8 billion of the holding firm’s primary shares. Such shares shall be, pending approval of the…read more
MAP 2000 Development Corp. (M2DC) is acquiring a majority stake in Basic Energy Corp., the energy company led by the De Venecia Group. In its disclosure, a memorandum of agreement was signed between the two companies in which M2DC will buy at least 67 percent of Basic Energy, subject to several conditions. M2DC will acquire…read more