Palace to study possible PH-China joint exploration on WPS
by Philippine Resources - August 31, 2022
Photo credit: Inquirer Philippines
The Marcos administration will study the proposed joint oil exploration between the Philippines and China in the resource-rich West Philippine Sea (WPS), Malacañang said on Tuesday.
“Pag-aaralan po natin sa ngayon (As of now, we will study it),” Press Secretary Trixie Cruz-Angeles said in a Palace press briefing.
Cruz-Angeles’ statement was issued after former Chinese ambassador to the Philippines Liu Jianchao expressed optimism about the revival of negotiations on China’s possible joint oil and gas exploration with the Philippines in WPS.
Liu, the current minister of the International Department of the Communist Party of China’s (CPC) Central Committee, hoped Sunday that the Marcos administration will consider joint oil and gas development in the busy waterway.
Cruz-Angeles said the Department of Foreign Affairs (DFA) will look into the proposal to jointly explore energy resources in WPS.
“Ukol sa mga foreign relations natin, lalung-lalo na those involving contracts kailangan pa po ng abiso ng ating Department of Foreign Affairs (With regard to our foreign relations, especially if these involve contracts, the Department of Foreign Affairs needs to be notified),” she said.
Chinese Ambassador to the Philippines Huang Xilian on July 27 said China is ready to restart talks on oil and gas exploration with the Philippines.
In November 2018, the two countries signed a memorandum of understanding (MOU) on joint oil and gas development in WPS.
The Philippines, under the Duterte administration, terminated the talks before Marcos assumed presidency on June 30 because of constitutional constraints and issues on the country’s sovereignty.
The Philippines on July 12, 2016, won its petition against China before the Permanent Court of Arbitration (PCA) in The Hague, Netherlands after the court invalidated Beijing’s supposedly historic rights over nearly the entire South China Sea, including the WPS.
Despite the Philippines’ historic win, China has repeatedly ignored the 2016 PCA ruling. By Ruth Abbey Gita-Carlos
Article courtesy of the Philippine News Agency
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Philippine Resources - December 01, 2021
Gas drilling in Recto Bank should push through: Pimentel
Photo credit: Inkl The chair of the House Strategic Intelligence Committee on Tuesday said oil drilling activities in Recto Bank must proceed as scheduled amid rising tensions with China. Surigao del Sur Rep. Johnny Pimentel said the Sampaguita gas field could yield up to USD18.2 billion, or around PHP910 billion, in future royalties for the government, based on a 60 percent net share. “We have no choice but to carry on with the drilling activities because the Sampaguita gas discovery in Recto Bank has the potential to energize the entire national grid – not just Luzon – for the next 20 to 30 years,” Pimentel said. Pimentel said Sampaguita is “an untapped value-changing asset” that would be valuable to the country’s future energy security with up to 4.6 trillion cubic feet of gas, while Malampaya, which has been producing gas for the last 20 years, has only 1.6 trillion cubic feet of residual gas at best. “There is even one study suggesting that the entire Recto Bank has up to 20 trillion cubic feet of potential gas in place,” Pimentel said. The Permanent Court of Arbitration in the Hague ruled in July 2016 that Recto Bank is within the Philippines’ exclusive economic zone, as defined under the 1982 United Nations Convention on the Law of Sea. By virtue of the ruling, Pimentel said the Philippines enjoys absolute rights to exploit all resources in the seamount. Article courtesy of the Philippine News Agency
Philippine Resources - October 18, 2021
Next Malampaya can be found in Mindanao: PNOC EC exec
As the Malampaya natural gas field is drying up, Mindanao might have the indigenous energy resources to energize the country. In a webinar of Davao International Conference 2021 Thursday, PNOC Exploration Corp. (PNOC EC) vice president for upstream operation Jaime Bacud said Mindanao is rich in indigenous resources that can support the country’s energy requirement. Bacud said Mindanao alone has three sedimentary basins waiting for exploration for oil and gas resources. These basins include Agusan, Cotabato, and the Sulu Sea. “We still think that there is natural gas potential for these areas, and it could be where we could find the next Malampaya,” Bacud added. The Malampaya gas field, which supplies around 30 percent of Luzon’s power requirement, is the country’s lone natural gas source. As the government issued a moratorium on new coal projects, Bacud said oil and gas exploration, particularly in Mindanao, could help in the government’s goal to achieve energy independence. “We still have a lot of natural or oil and gas resources that are still untapped. And this could be our way forward to get closer to what we call energy independence,” he added. By Kris Crismundo Article courtesy of Philippine News Agency
Philippine Resources - February 08, 2022
Let biz sector handle Malampaya deal, PRRD tells senators
Photo credit: Shell President Rodrigo Duterte on Friday slammed the Senate resolution recommending charges against Department of Energy (DOE) Secretary Alfonso Cusi and other officials over the approval of what lawmakers alleged was an anomalous sale of shares in the Malampaya gas field. In a statement, Duterte expressed "grave concern" over the Senate's adoption of the resolution, as it casts "undue, undeserved, and unwarranted aspersion" on key DOE officials. "The government values the critical role and contribution of the Malampaya Gas Field to energy security. I will not allow this valuable resource to be jeopardized and embroiled in the political antics of some members of the Senate," he said. Duterte affirmed that Cusi still has his full trust and confidence, and shall remain as the head of the energy department. He maintained that the national interest has been protected and the government's rights remain intact amid the developments involving the share sale and purchase agreement. "I am calling on our legislators to ensure that our ability to compete is not jeopardized by political intrigues and innuendoes. Leave business transactions in the capable hands of the business sector. Let us respect their business decisions while we protect our national interests," Duterte said. The resolution, penned by Senator Sherwin Gatchalian, recommends the filing of criminal and administrative charges before the Office of the Ombudsman and the Civil Service Commission against Cusi and other DOE officials for approving and recommending approval of the Chevron Philippines-UC Malampaya transaction. Gatchalian said the officials violated laws for allegedly railroading the approval to the sale of the 45-percent participating interest in the Malampaya gas project of Chevron Malampaya LLC Philippines, now known as UC 38 LLC, to UC Malampaya, an indirect subsidiary of Udenna Corporation, despite the lack of financial qualification. Duterte, however, said that the sale and purchase of the stock of Chevron Malampaya LLC was a private transaction between private entities that must be respected. He also reiterated that both foreign and local investments are "vital" to the economy. "We compete for them with other countries, and our ability to do so requires me to create and maintain an environment conducive to the entry of investors," he said. Duterte said that while he recognizes the Senate's power to conduct congressional probes in aid of legislation, this should be exercised "with prudence and circumspection, devoid of reckless accusations, and focused on improving existing laws". By Filane Mikee Cervantes Article courtesy of the Philippine News Agency
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Philippine Resources - March 23, 2023
20 Years of Integral: Celebrating Growth and Transformation
Integral, a purveyor of market-leading process control solutions in the Philippines, celebrates its 20th anniversary this 2023. The event, held in EDSA Shangri-La, was attended by the company’s employees, clients, and supply chain partners. The celebration was a showcase of Integral’s history. But more importantly, it highlighted lessons the company learned as keys to success over the past two decades. As told from the perspective of the founders and employees, the event delivered a playful yet heart-warming glimpse into Integral's journey.
Philippine Resources - March 23, 2023
PH, Australia partner for technical cooperation for PPP
Photo: Australian Ambassador to the Philippines Hae Kyong Yu PSM. Credit: AusAmbPH Twitter Page As the Marcos administration becomes bullish in utilizing a public-private partnership (PPP) model in infrastructure projects, the Australian government will be providing its technical expertise in rolling out infrastructure projects under the PPP. Australian Ambassador to the Philippines Hae Kyong Yu PSM told the Philippine News Agency in an interview at her residence Wednesday that the embassy will be launching the Partnerships for Infrastructure (P4I) on March 24. “Infrastructure is a big area that the Philippines is focusing on, and I know President (Ferdinand R.) Marcos (Jr.) has announced that he wants to utilize PPP more where it’s possible. So we are working closely with the Philippine government to share with them how Australia has done it,” Yu said. P4I is an Australian government initiative that brings together experts from the public and private sectors as well as the academe to help Philippine government agencies involved in infrastructure development in the preparation stage of projects that would be under a PPP model. “We can help them with all the project preparation stage. How you do actual cost-benefit analysis of potential projects, and then how you prepare documents for possible procurement, tender processes, and things like that,” the envoy cited. She said that aside from the PPP Center, the P4I also aims to closely work with other agencies including the Department of Transportation, the Department of Energy, the Department of Finance, and the National Economic and Development Authority (NEDA), among others. Yu added that the Australian government will be closely working with the administration through the P4I in meeting its diverse infrastructure requirements, including roads, transport, energy, and public investment management. The Australian envoy said a number of Australian companies have been involved in infrastructure projects in the country. Early this month, NEDA Secretary Arsenio Balisacan announced that the NEDA Board approved PHP9 trillion worth of flagship infrastructure projects, with 45 of these projects possibly being funded through PPPs. “The government shall harness the financial and technical resources of the private sector, which allows the public sector to allocate its funds for greater investment in human capital development, especially to address the scarring in health and education due to the pandemic, and provided targeted assistance that protects vulnerable sectors from economic shocks,” Balisacan had said. By Kris Crismundo Article courtesy of the Philippine News Agency
Philippine Resources - March 21, 2023
PBBM boosts transport sector thru big-ticket projects
Photo credit: Department of Transportation Several big-ticket infrastructure projects in the transportation sector have been approved or are already being implemented by the administration of President Ferdinand R. Marcos Jr., the Department of Transportation (DOTr) reported Monday. In a statement, the DOTr said the Cebu Bus Rapid Transit Project, Davao Public Transport Modernization Project, EDSA Greenways, the Light Rail Transit Line 2 (LRT-2) West Extension, and the Light Rail Transit Line 1 (LRT-1) Cavite Extension are all ongoing as of March 9 according to the National Economic and Development Authority (NEDA). These projects are among the 67 infrastructure flagship projects (IFP) that have been greenlit or are already underway out of the 194 high-impact projects under Marcos’ "Build Better More" program. In the rail sector, these approved and ongoing projects include the Metro Manila Subway Phase 1, Mindanao Rail Phase 1, Metro Rail Transit Line 3 (MRT-3) rehabilitation, Metro Rail Transit Line 4 (MRT-4), Metro Rail Transit Line 7 (MRT-7), New Cebu International Container Port, New Manila International Airport (Bulacan International Airport), North-South Commuter Railway (NSCR), Philippine National Railways (PNR) South Long Haul, and the Subic Clark Railway. The New Dumaguete Airport Development Project (Bacong International Airport) and the Integrated Flood Resilience and Adaptation (InFRA) Phase 1 have also both been approved by NEDA, with six projects awaiting approval. Last week, the NEDA Board, led by Marcos, approved 194 high-impact priority projects with a total cost of around PHP9 trillion. The board also approved amendments to the 2013 Joint Venture guidelines to support the government’s push for more investments in the country’s infrastructure. PNR suspension Meanwhile, Senate President Pro Tempore Loren Legarda has expressed alarm over an impending suspension of select PNR routes due to the NSCR, saying it will affect thousands of commuters, mostly students and workers. “The welfare of the riding public should always be prioritized yet it remains to be seen whether such proposed solutions would effectively and sufficiently address the riding public's urgent demands in time for the imminent suspension of the operations of the PNR,“ Legarda said in her explanatory note on Senate Resolution No. 546. The PNR plans to suspend operations of certain routes for up to five years to facilitate the faster construction of the 55-kilometer NSCR. The construction will start in May and PNR may suspend the routes between Governor Pascual in Malabon City and Calamba City in Laguna, and well as Alabang, Muntinlupa City to Calamba. The Tutuban, Manila-Alabang route will be suspended in October and will affect between 20,000 and 25-000 passengers daily. Legarda urged the Committee on Public Order, chaired by Senator Grace Poe, to look into the impending suspension and come up with alternative solutions. Article courtesy of the Philippine News Agency
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