Ex-MERALCO, Shell execs named chairs of Basic Energy subsidiaries

Basic Energy to acquire equity investments in Thai EPC contractors

Basic Energy Corporation has recently named Oscar Reyes and Reynaldo Gamboa as chairmen of Basic Renewables, Inc. (BRI) and Mabini Energy Corporation (MEC), respectively.

Reyes was the former President and CEO of the Manila Electric Company (MERALCO). He also took on various key roles in the Shell group. Among them are Country Chairman of the Shell companies in the Philippines, President of Pilipinas Shell Petroleum Corporation, and Managing Director of Shell Philippines Exploration B.V. — the operator of the Malampaya gas field.

Aside from holding a directorial post at Basic Energy, Reyes also sits on the board of Manny Pangilinan-led PXP Energy, as well as TeaM Energy.

Basic Energy said Reyes will be very instrumental in shaping BRI’s mission and vision “to make it a force to reckon with in the solar renewable energy space.”

“With the impending investment of Basic Energy Corporation in Filoil Energy Company Inc. (FEC), the opportunity will open for BRI to serve as the bridge between Basic Energy Corporation and FEC for the development of the integration of renewable energy sources in the downstream oil industry to support the expected growth of electric vehicles for public utilization,” Basic Energy’s statement added.

Gamboa, on the other hand, also had ties with Shell for over 31 years handling Senior Executive positions most notable being its former Vice President for Corporate Affairs. A well-known newspaper columnist and basketball afficionado, Gamboa will be overseeing MEC’s wind project in Mabini, Batangas.

“[His] impressive credentials as a leader and visionary, will provide the much needed strategic guidance and fiscal direction to the management team of MEC as the project enters the crucial phase of Wind Resource Assessment to determine the Annual Energy Production that will dictate the actual capacity of the wind energy power plant,” the company’s statement said.