The rise of China’s mega-refineries was always going to make life tougher for their competitors across Asia. But the fallout from Covid-19 is hastening the impact and accelerating consolidation across the region.
Anglo-Dutch supermajor Shell has received a notice to proceed (NTP) for a proposed liquefied natural gas (LNG) import scheme in the Philippines.
First Gen will award a deal for the charter of a floating storage regasification unit (FSRU) to support its Interim Offshore LNG Terminal project in the Philippines by the end of March.
The Philippines need to pursue nuclear power to improve its long-term energy security and slash carbon emissions from its highly polluting coal-fired power fleet.
The Philippines this week approved yet another proposed liquefied natural gas (LNG) import scheme as the country faces a looming gas supply crunch. However, the latest award, to AG&P, underscores the department of energy’s (DOE’s) lack of strategy for LNG imports in the power-hungry Southeast Asia nation.
Technology group Wartsila will supply a flexible barge-mounted 54 MW / 32 MWh energy storage system to Therma Marine Inc (TMI) in the Philippines to help meet the country’s surging demand for electricity. It is billed as the first project of its kind in Southeast Asia.
Philippine business tycoons are eager to buy Shell’s stake in the deep-water Malampaya project. However, any potential suitors for the 45% interest, valued at between $250 million and $300 million by analysts at Rystad Energy, will need to bring strong technical skills to eek more gas out of the aging field.
Law makers in the Philippines are seeking to refocus the Philippine National Oil Company’s (PNOC’s) investment mandate towards exploration and production ventures. The move is part of an effort to revive the Southeast Asian nation’s ailing upstream sector and attract new investment as its energy security situation continues to deteriorate.
Three60 Energy has clinched a multimillion pound deal to provide of duty holder services on the Intrepid FPSO offshore Philippines.
The Philippines said oil exploration in the disputed South China Sea can proceed without China, in what could be a further sign of the Southeast Asian nation’s tougher stance against Beijing.
The Philippines is accelerating plans to import LNG, as Shell seeks to exit the country’s largest gas field, creating more uncertainty for the waning domestic upstream sector.
China has arguably triumphed in its face-off with Malaysia over oil and gas exploration in the disputed waters of the South China Sea.
Renewable development consultant, Modern Energy Management (MEM), has been tapped by investors to facilitate wind and solar projects in Myanmar, Vietnam, Indonesia and the Philippines.
Amec Foster Wheeler has won contract in the Philippines, which will ultimately supply power to more than six million people.
China has issued a policy paper calling the South China Sea islands its territory as it blamed the Philippines for stirring trouble, a day after an international tribunal ruled that Beijing had no legal basis for its expansive claims.
An arbitration court today ruled the China has no historic rights to the resources in the hotly contested South China Sea.
Philippine conglomerate San Miguel Corp's energy subsidiary is borrowing $400 million from banks to finance the construction of a power plant north of the capital, IFR reported on Wednesday. SMC Global Power Holdings Corp mandated DBS Bank, Mizuho Bank and Standard Chartered for a $400 million, seven-year loan for the construction of a 300-megawatt coal-fired power plant in Bataan province, said IFR, a Thomson Reuters publication.
Otto Energy has been granted an extension by the Philippines Department of Energy (DOE) for drilling of the Hawkeye-1 well in the Palawan Basin. The company said it will continue its farm-out process to secure quality joint ventures to participate in the drilling of the Hawkeye-1 exploration well. It had previously been in a farm-out agreement with BHP Billiton, with the deal ending earlier this year.