Looking to China: President Rodrigo Duterte announced the executive order in May
Manila opens the door to Chinese E&P
An executive order has reduced the constraints on Philippines’ state oil company working with third parties on oil and gas deals
An executive order from Philippines President Rodrigo Duterte that relaxed the rules on oil and gas exploration should make it easier for the government to cement its recent outreach to China, as it opens exploration blocks in a bid to reverse a precipitous decline in production. Executive Order 80, issued in late May, reverses a previous ruling from 2006 that prevented the Philippine National Oil Company Exploration Corporation (PNOC-EC) from directly farming out its acreage. From now on, third parties can participate in service contracts awarded by the government to PNOC-EC, the upstream arm of state-owned Philippine National Oil Company, without the need for public bidding.PNOC-EC has bee
Also in this section
18 December 2024
The energy transition will not succeed without a reliable baseload, but the world risks a shortfall unless more money goes into gas
18 December 2024
The December/January issue of Petroleum Economist is out now!
17 December 2024
Structurally lower GDP growth and the need for a different economic model will contribute to a significant slowdown
17 December 2024
Policymakers and stakeholders must work together to develop a stable and predictable fiscal regime that prioritises the country’s energy security and economy
