MANILA, Philippines — Basic Energy is undertaking a reorganization of its top executives to propel its push toward attaining the company’s growth targets.

Basic Energy said its board has appointed president and CEO Oscar de Venecia Jr. as one of the vice chairmen of the board.

De Venecia will then turn over his position as president and CEO, upon effectivity of his early retirement at the end of the year, to chief operating officer Luisito Poblete.

“With the board’s decision to fast-track and move on with new and various wind and solar projects, Mr. De Venecia will take the lead in the areas of business development and marketing, and coming from his long years of experience with the company, he will take charge of promoting and strengthening relationships with shareholders, investors and stakeholders,” Basic Energy said.

De Venecia is also expected to provide “vigor and dynamism in steering the various existing and future projects of the company to fruition.”

With three years as operations head in the Basic Energy, Poblete, meanwhile, is poised to assume the bigger role of president and CEO.

Poblete, with his vast experience from both within and outside of the company, will be tasked to pursue the expected growth of Basic Energy in the coming years.

Prior to joining the company in 2019, Poblete was the president and managing director for Total (Philippines) Corp. and has also worked with Pilipinas Shell Petroleum Corp. for 17 years, handling various operations and engineering positions.

“For his part, Mr. De Venecia, as a vice chairman, will assist the new president and CEO in achieving the targeted growth in the business portfolio of the company, ensuring that this growth projects and embodies the vision and mission of the company,” Basic Energy said.

“These teamwork and re-alignment are expected to make the company well-equipped and thus ready to face the challenges of the coming years, and achieve the targeted business growths aimed at making the company a truly pioneering energy development company,” it said.

Basic Energy’s board has also accepted the resignation of Supasit Pokinjaruras as director and approved his appointment as member of the advisory board.

Basic Energy is going full swing with its push for clean energy.

The company last October said its board gave the go signal for the incorporation of Basic Renewables Energy Corp., a new subsidiary that will operate the e-charging/solarization project, presently being handled by the parent company.

Basic Energy’s wholly owned subsidiary Mabini Energy Corp. last October also officially commenced a wind resource assessment campaign after successfully installing and testing the met mast facility at Mabini, Batangas for its potential 50-megawatt Mabini wind energy project.

The assessment will verify the wind characteristics of the area for a potential wind power farm, the company said.

A favorable one-year period of assessment campaign would lead to the micro siting process to determine the wind turbine locations, as well as its design.

The wind power farm is expected to operate and deliver power energy to the grid by 2027.

The company is allotting P6.35 million to explore prospective areas for wind power development.

It has seven areas of interest for possible wind power development, in line with its thrust to search and develop other power plant projects, particularly solar and wind.

source: https://www.philstar.com/business/2022/12/17/2231290/basic-energy-reorganizes-top-management