- MIC collaborates with the Philippine National Oil Company on fuel storage facilities.
- PNOC and MIC signed an MOU to explore a development project in Bataan.
DoE Explores Middle East Energy Partnerships While PNOC Commits to Bataan Storage Facility
- Reports
- 2
- Developments
- 1
- Repetition
- 50%
New informationRepeats or wire copies
What happened
The Department of Energy is evaluating potential partnerships with Middle East majors regarding energy infrastructure. Separately, the Philippine National Oil Company committed to establishing a storage facility in Bataan. The Department of Energy also stated that potential investments of up to $324 million could be generated from 14 energy service contracts.
Why it matters
The DoE's exploration of international energy partnerships affects the country's energy independence goals. The successful drilling of wells in the Malampaya gas field was also cited as providing enough fuel to power 13.1 million households for one year.
From bworldonline.com
Who's involved
- Department of EnergyPhilippine government body responsible for energy policy and international energy contract management.
- PhilippinesGeopolitical entity whose energy sector is reliant on imports and domestic resources.
- BataanProvince of the Philippines where a strategic petroleum reserve facility is planned.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- PhilippinesSpeculative
The country could leverage new energy discoveries and attract foreign investment to improve energy security.
Keep exploring
The entities involved
-
Department of Energy
Philippine energy department
-
Philippines
archipelagic country in Southeast Asia
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Bataan
province of the Philippines
Related events
- AboitizPower is collaborating with the government on shaping the future of the energy sector in the Philippines.
- Amid geopolitical tensions, the Department of Energy is managing fuel prices in the Philippines, while the Civil Aeronautics Board issues advisories for domestic flights.
- The Department of Energy plans a future oil storage facility in collaboration with Japan.
- The Philippines is pursuing oil reserve partnerships and developing a government-owned oil depot with the United Arab Emirates and Saudi Arabia.
- The DOE is managing geothermal capacity auctions in the Philippines.