Basic Energy Corporation

Basic Energy Corporation (BSC) was originally incorporated as Basic Enterprises, Inc. on September 19, 1968 and became an oil and gas exploration and development company on April 26, 1971. A year after, BSC assumed a new name, Basic Petroleum and Minerals, Inc. Over the years, BSC evolved from an operating company to a holding company under the corporate name, Basic Consolidated, Inc. In 2007, in line with the inclusion among its primary purposes the production of ethanol and other biofuels, and the development of other alternative and renewable energy sources, the Company changed its corporate name to the present one.

As a holding company, BSC fully owns the following subsidiaries: Basic Diversified Industrial Holdings, Inc., an investment holding company; iBasic, Inc., an information technology management company and service integrator; Basic Biofuels Corporation, a biofuels developer; Basic Renewables, which is into the development of renewable energy; Basic Geothermal Energy Corporation, which is into geothermal energy development; and Grandway Group Limited, a Hong Kong based unit in charge of equity investments abroad. The Company also owns 72.58% of Southwest Resources, Inc., an oil exploration company.

BSC was awarded by the Department of Energy (DOE) a total of five service contracts for the exploration and development of geothermal energy in Mabini, Batangas; Mariveles, Bataan; East Mankayan, Benguet; Iriga, Camarines Sur; and West Bulusan, Sorsogon. The Company was also previously awarded by the DOE four hydro-power service contracts all located in Negros Occidental, but BSC has withdrawn from these service contracts to focus on its drilling operations in Mabini, Batangas. This service contract was, however, terminated by the Department of Energy (DOE) in a letter dated June 14, 2019.

Source: SEC Form 17-A (2019)

  • Business Address:7/F Basic Petroleum Building, 104 Carlos Palanca, Jr. St., Legaspi Village, Makati City 1229
  • Telephone No/s.: (632) 8817-8596 
  • Fax No.:(632) 8817-0191
  • Email Address:
  • Company Website :

Board of Directors

ChairmanOscar C. de Venecia
Vice ChairmanFrancis C. Chua
Vice ChairmanRamon L. Mapa
DirectorOscar L. de Venecia, Jr.
DirectorMa. Florina M. Chan
DirectorJaime J. Martirez
DirectorSrinarin Poudpongpaiboon
Directorlsidoro O. Tan
Independent DirectorHarvey Lawrence N. Dychiao
Independent DirectorEduardo V. Manalac
Independent DirectorAdolfo S. Azcuna

Management Officers

President and CEOOscar L. de Venecia, Jr.
Vice President – OperationsAlberto P. Morillo
Vice President – FinanceAlain S. Pangan
Assistant Vice President, Compliance
Officer and Corporate Secretary
Angel P. Gahol
Business Development and
Risk Management Officer
Darius A. Marasigan

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s