Basic Energy Corporation (BEC) is a publicly listed holding company in the Philippines. It has business interests in various fields of renewable energy and alternative fuels, and oil and gas exploration and development. Fifty years since it was established, BEC has undergone a dramatic transformation from an operating company into a holding company.

The company changed its corporate name to Basic Energy Corporation from Basic Petroleum Corporation in 2007, aligned with its primary purpose of developing alternative and renewable energy sources. BEC continues to fuel the Philippines’ vibrant energy sector with the breadth and depth of its projects and technical knowledge.

The Company’s wholly owned subsidiaries include Basic Diversified Industrial Holdings, Inc., which is an investment holding company; IBasic, Inc., which is an information technology management company and service integrator; Basic Biofuels Corporation, which is a developer of biofuels; Basic Renewables, Inc., which is engaged in renewable energy; Mabini Energy Corporation, which holds the wind energy service contract for the development of a wind energy project in Mabini; Southwest Resources, Inc., which is engaged in oil exploration; and Grandway Group Limited.

The Company operates through downstream oil operations segment, which particularly includes the sale of petroleum products. Basic Energy Corporation announced that the Department of Energy (DOE) has granted the company a Certificate of Authority (COA) for its proposed Solar Energy Operating Contract (SEOC) application for the Bolinao, Pangasinan Solar Power Project. This development reflects the company’s commitment to expanding its renewable energy portfolio and contributing to the country’s energy security.