Basic Energy Corporation, an investment holding company, engages in the exploration and development of oil and gas properties in the Philippines. It is involved in the exploration, development, and production of geothermal project; development and operation of a wind energy project; and development of biofuels and renewable energy. The company also provides information technology management services; acts as service integrator; develops and maintains computer software; hold and invest in real properties; and fuel terminalling and storage services. In addition, it wholesales and distributes petroleum products. Basic Energy Corporation was formerly known as Basic Petroleum Corporation and changed its name to Basic Energy Corporation in July 2007. The company was incorporated in 1968 and is based in Mandaluyong City, the Philippines. Basic Energy Corporation operates as a subsidiary of Map 2000 Development Corporation.