Philippines Oil and Gas Report - Business Monitor International - Industry Reports

Philippines Oil and Gas Report

Philippines Oil and Gas Report - Business Monitor International - Industry Reports
Philippines Oil and Gas Report
Published Oct 15, 2016
74 pages — Published Oct 15, 2016
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Abstract:

The Philippines Department of Energy is demonstrating an increasing sense of resource nationalism in its dealing with foreign oil and gas players - a change in attitude that is becoming more evident following the Permanent Court of Arbitration s July -- rejection of China s nine-dash line in the South China Sea in the Philippines favour. The maritime dispute is hardly over, however, with strong Chinese influence over the disputed area still presenting a formidable road block to any exploration efforts that the Philippines or a consortium of IOCs are willing to undertake. ...The maritime dispute is hardly over, however, with strong Chinese influence over the disputed area still presenting a formidable road block to any exploration efforts that the Philippines or a consortium of IOCs are willing to undertake. In a separate ruling, the Philippines Supreme Court ruled that all service contracts signed with international firms, whether existing or new, would be void and deemed unconstitutional unless personally signed by the president, compiling further regulatory uncertainly onto existing and prospective investors. Table: Proven Oil and Gas Reserves (Philippines ---------) ----e ----e ----f ----f ----f ----f Proven oil reserves, mn bbl ---.- ---.- ---.- ---.- ---.- ---.- Proven oil reserves, bn bbl -.- -.- -.- -.- -.- -.- Proven oil reserves, y-o-y ---.- -.- -.- -.- -.- -.- Reserves to production ratio (RPR), years --.- --.- --.- --.- --.- --.- Natural gas proven reserves, bcm --.- --.- --.- --.- --.- --.- Natural gas proven reserves, tcm -.- -.- -.- -.- -.- -.- Natural gas proven reserves, y-o-y -.- -.- --.- --.- --.- --.- ...In a separate ruling, the Philippines Supreme Court ruled that all service contracts signed with international firms, whether existing or new, would be void and deemed unconstitutional unless personally signed by the president, compiling further regulatory uncertainly onto existing and prospective investors. Table: Proven Oil and Gas Reserves (Philippines ---------) ----e ----e ----f ----f ----f ----f Proven oil reserves, mn bbl ---.- ---.- ---.- ---.- ---.- ---.- Proven oil reserves, bn bbl -.- -.- -.- -.- -.- -.- Proven oil reserves, y-o-y ---.- -.- -.- -.- -.- -.- Reserves to production ratio (RPR), years --.- --.- --.- --.- --.- --.- Natural gas proven reserves, bcm --.- --.- --.- --.- --.- --.- Natural gas proven reserves, tcm -.- -.- -.- -.- -.- -.- Natural gas proven reserves, y-o-y -.- -.- --.- --.- --.- --.-

...The main trends and developments we highlight for the Philippines oil and gas sector are: The Philippines is set to start its first liquefied natural gas (LNG) trade when Energy World Corporation s -.-bcm LNG import terminal at Pagbilao comes online in H---. First Gen Corp s USD-.-bn LNG import project in Batangas is set to come online by ----/----. PNOC is a potential partner in the venture, with the two parties having engaged in preliminary discussions. The implementation of Euro-IV fuels standards nationwide from January ---- will increase domestic supply of higher-quality fuels (gasoline, low-sulphur diesel, LPG & petrochemicals) at the expense of heavier, more pollutive fuels. The ongoing spat between Shell Philippines and the Department of Energy, and the ensuing sense of resource nationalism is negative for the upstream segment, which is in dire need of greater foreign capital and expertise. ...The ongoing spat between Shell Philippines and the Department of Energy, and the ensuing sense of resource nationalism is negative for the upstream segment, which is in dire need of greater foreign capital and expertise. PNOC-EC made a potentially commercial gas discovery at the Mangosteen field, which could provide a small boost to domestic gas output in the latter half of the decade.

...(PNOC) (--.- ), Dragon Oil (--.- ) and Nido Petroleum (--.- ) failed to encounter hydrocarbons after drilling the Baragatan-- exploration well in May ----. Next phase appraisal will involve the drilling of two wells sometime between November ---- - November ----. ...

  
Source:
Document ID
1748-4162
Country
Industry
Format:
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Philippines Oil and Gas Report" Oct 15, 2016. Alacra Store. Dec 06, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Philippines-Oil-and-Gas-Report-2026-100>
  
APA:
Business Monitor International - Industry Reports. (2016). Philippines Oil and Gas Report Oct 15, 2016. New York, NY: Alacra Store. Retrieved Dec 06, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Philippines-Oil-and-Gas-Report-2026-100>
  
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