oil and gas - updates

Rappler's latest stories on oil and gas


Carpio welcomes Russian oil exploration in West Philippine Sea

Oct 20, 2019 - 2:41 PM

Retiring Supreme Court Senior Associate Justice Antonio Carpio says Manila should be also spreading out service contracts for oil exploration in the West Philippine Sea to countries other than China

STAUCH DEFENDER. Retiring Supreme Court Senior Associate Justice Antonio Carpio says the Philippine should spread out partners for oil exploration in the West Philippine Sea. Rappler Screenshot

Oil and gas deal in West PH Sea 'victory for 'bully' China – Alejano

Nov 23, 2018 - 11:52 AM

'The fact that we have recognized China in sharing with [them] our own resources in our own waters is already a victory on their part,' says Magdalo Representative Gary Alejano

'VICTORY' FOR CHINA. Magdalo Representative Gary Alejano is against the oil and gas development deal signed by the Philippines and China. Screenshot from Rappler

PH-China deal on oil, gas dev't creates body to study joint exploration

Nov 21, 2018 - 12:46 PM

Up to the last minute, uncertainty clouded what kind of oil and gas deal would come out of Xi's state visit. The MOU appears to be a softer version of the framework earlier prepared.

Chinese President Xi Jinping (L) and Philippines' President Rodrigo Duterte (R) react after a joint press statement at the Malacanang Presidential Palace in Manila on November 20, 2018. - Chinese President Xi Jinping called his visit on November 20 to long-time US ally the Philippines a "milestone", as he aimed to boost blossoming ties on the promise of billions of dollars in backing for mega-projects. Photo by Mark Cristino/Pool/AFP

PH, China sign deal on oil, gas development in West PH Sea

Nov 20, 2018 - 6:56 PM

Philippine and Chinese officials exchange 'memorandum of understanding on oil and gas development' during Xi Jinping's historic state visit

China's President Xi Jinping (centre L) and Philippines' President Rodrigo Duterte (C) walk to their bilateral meeting after inspecting the honour guard during a welcoming ceremony at the Malacanang palace grounds in Manila on November 20, 2018. - Chinese President Xi Jinping called his visit on November 20 to long-time US ally the Philippines a "milestone", as he aimed to boost blossoming ties on the promise of billions of dollars in backing for mega-projects. (Photo by Ted ALJIBE / AFP)

The week in photos: May 5-12, 2018

May 13, 2018 - 11:36 AM

This week's selection of photo highlights here and around the world

Supreme Court on May11, 2018 voting on the quo warranto case against Chief Justice Maria Lourdes Sereno. Photo by Angie de Silva/Rappler

Cayetano meets Wang, BDO on Osmeña, Zuckerberg on Cambridge Analytica | Midday wRap

Mar 22, 2018 - 12:05 PM

Watch the midday newscast with Mara Cepeda

Cebu's Alegria Oil Field to begin commercial production

Mar 14, 2018 - 5:50 PM

The Department of Energy says the natural gas and oil production of the field may last until 2037, based on the development plan crafted after the initial testing

GAS AND OIL. Energy Secretary Alfonso Cusi (second to the left) declares the Alegria Oil Field in Southern Cebu to have commercial quantities of natural gas and oil resources. Photo from DOE

Qatar wants to invest in PH via Islamic bonds

Oct 03, 2017 - 6:45 PM

The Qatar Investment Authority has at least $320 billion worth of excess funds which may be used for energy projects in the Philippines and Southeast Asia

ALEX BANCOLA. Photo of Alex Bancola from http://www.amanahbank.gov.ph/

Fuel prices going up again Dec 20

Dec 19, 2016 - 5:10 PM

Oil companies in the Philippines will implement the price hike at 6 am on Tuesday December 20

OIL PRICES. An attendant fills up a motorcycle with gasoline at a gasoline station in Kamuning, Quezon City. File photo by Joel Liporada/Rappler

Total wins 30% stake in Qatar's largest oil field

Jun 28, 2016 - 1:45 PM

The French company enters into a joint venture with Qatar Petroleum for the Al Shaheen oil field

epa04779623 French energy group Total CEO Patrick Pouyanne delivers a speech during the opening ceremony of the 26th World Gas Conference (WGC) in Paris, France, 02 June 2015. The WGC runs from 01 to 05 June and gathers the world gas market leaders. EPA/ETIENNE LAURENT

Shell says it could exit 10 countries

Jun 07, 2016 - 9:08 PM

Meanwhile owing to the takeover of BG Group as well as low oil prices Shell is cutting at least 12 500 jobs over two years to the end of 2016

EXITS? Shell's logo at a Shell station in London, England on April 8, 2015. File photo by Andy Rain/EPA

Huge blast at Nigerian gas plant claims at least 8 lives

Dec 25, 2015 - 8:31 PM

The cause is yet to be determined A few people lost their lives Some people suffered burns of various degrees says a state governor

Nigeria locator map

Energy firm with Indonesian stakes soar on bid refusal, Fed bets lift rupiah

Oct 22, 2015 - 6:58 PM

While jitters over China s economics malaise kept equities on edge increasing confidence that the Federal Reserve will delay an interest rate rise until the new year continued to lend broad support to emerging market currencies

RUPIAH UP. The dollar is down against emerging-market currencies. EPA/ADI WEDA

Indonesia grants 30% stake of Mahakam gas block to Total, Inpex

Jun 19, 2015 - 6:11 PM

President Joko Widodo s government wanted Pertamina to take over the block despite doubts over Pertamina s technical and financial capacity

TOTAL INDONESIA. An oil and gas processing installation operated by Total E&P Indonesie in Senipah, East Kalimantan. Photo by Olivia Rondonuwu/AFP

The wRap Indonesia: Nov. 20, 2014

Nov 20, 2014 - 11:43 AM

The new head of graft ridden oil and gas regulator SKKMigas Indonesia s ranking in the Global Terrorism Index the new Jakarta governor s priorities and more

Faisal Basri, senjata Jokowi berantas mafia migas

Nov 17, 2014 - 12:51 PM

Mafia migas merajalela karena lemahnya sistem hukum dan perizinan Tim yang dipimpin Faisal Basr akan menyederhanakan proses bisnis perizinan standarisasi penguatan transparansi dan pengembalian meritokrasi

Ekonom UI Faisal Basri ditunjuk menjadi Ketua Tim Reformasi Tata Kelola Migas. Foto oleh Faisal-Biem/YouTube

The wRap Indonesia: Nov. 5, 2014

Nov 05, 2014 - 11:18 AM

Jokowi s ultimatum to governors world leaders line up to meet Jokowi at international summits the latest on the Indonesian victims in the Hong Kong double murders and more

President Joko ‘Jokowi’ Widodo meets visiting Chinese Foreign Minister Wang Yi at the Merdeka Palace in Jakarta, on Nov. 4, 2014, ahead of the APEC Summit in Beijing this year. Photo taken from Jokowi’s official Facebook page

Edinburgh and London grapple with North Sea's black gold

Aug 24, 2014 - 2:08 PM

With Scotland heading to the polls on September 18 in a referendum that could spell the end of the 300 year old union with England its lucrative energy resources are in sharp focus

A file photo, taken in March 2009 and provided by Royal Dutch Shell of the Gannet Alpha platform in the North Sea. Royal Dutch Shell/Handout/EPA

Bulgaria suspends work on South Stream pipeline

Jun 09, 2014 - 12:33 AM

The controversial pipeline is designed to bring Russian gas to Europe while bypassing crisis hit Ukraine

SC asked: Void expired PH-China offshore oil exploration pact

May 29, 2014 - 7:22 PM

Petitioners allege that the JMSU violates the Constitution for not being able to follow a provision limiting who can partner with the government in exploring the country s natural resources

Briton, New Zealander shot dead in Libya –security source

Jan 03, 2014 - 8:57 AM

The bodies are now in Tripoli but authorities have not disclosed the circumstances of the deaths

Frontier Oil IPO to raise P2.2B

Oct 25, 2013 - 6:00 PM

The Philippine Stock Exchange approves the P2 2 billion initial public offering of Frontier Oil Corporation

FUND RAISING. Oil and gas firm Frontier Oil expects to raise over P2 billion from its IPO. File photo by AFP

Currency woes widen Philex Petroleum losses in H1

Jul 26, 2013 - 1:10 PM

The net losses of upstream oil and gas company Philex Petroleum Corp widens to P225 2 million in the first 6 months of 2013 from P80 5 million a year ago

MORE LOSSES. The oil and gas company led by Manuel V. Pangilinan incurred more losses in the first 6 months of 2013 due to forex woes

Philex unit completes P2.1-B sale of Vietnam firm

Jul 17, 2013 - 4:29 PM

The sale generated P200 million profits which the Philex group intends to use to fund exploration activities and acquire new oil and gas exploration assets

UK to fund PH initiative on transparency

Jun 17, 2013 - 10:47 AM

The UK will fund a project that aims to boost Philippines efforts to improve transparency in mining oil and gas via the Extractive Industries Transparency Initiative or EITI

EITI COMPLIANCE. The Aquino government is working double time to pass the application for EITI candidacy in April. Screenshot from PH-EITI presentation

San Miguel selling Meralco stake to fund oil, gas ventures

Jun 06, 2013 - 7:39 PM

The group s stake in Meralco is worth P142 5 B according to Bloomberg calculations

San Miguel president Ramon Ang listens during a press conference in Manila on August 28, 2012. AFP PHOTO/TED ALJIBE

Biz groups slam CA in smuggling case

May 24, 2013 - 12:30 PM

Two influential business groups slam the Court of Appeals for intervening in the smuggling case the government has filed against Phoenix Petroleum

DON'T MEDDLE. Two influential business groups say the Court of Appeals should not intervene in the government's smuggling case against oil retailer Phoenix Petroleum. File photo taken from Phoenix Petroleum website

San Miguel to invest $25-B for oil, natural gas

Mar 06, 2013 - 8:10 PM

San Miguel Corp s Ramon Ang says it could divest its interests in SMC Global Holdings Power Corp to raise funds for an oil and gas investment

NEW VENTURES. Ramon Ang says San Miguel is looking into diversifying into the oil and gas sector. Photo by AFP

Philex ends 2012 with P295-M loss

Feb 28, 2013 - 12:14 AM

The closure of Padcal mine in Benguet and write offs of oil and coal assets pulled down the 2012 bottom line of the country s biggest extractive industry player

MINE SPILL. A Philex Mining staff checks the penstock of the tailings pond of Padcal mine in Benguet. Photo courtesy of Philex

Forum Energy losses mount due to gas project

Feb 21, 2013 - 5:48 PM

The loss stems from a third party assessment that reduced the likelihood of commercially viable hydrocarbon deposit in the company s Service Contract 40

MVP units, PNOC-EC win energy contract near Palawan

Feb 15, 2013 - 8:59 PM

The award of contract to explore oil and gas deposits in Area 4 northwest of Palawan is the Philippines way of asserting sovereign rights over parts of the disputed South China Sea

Reed Bank 'holds huge oil, gas reserves'

Feb 10, 2013 - 11:38 PM

Most of the untapped hydrocarbon resources in the South China Sea are in Reed Bank a US agency says

MVP: Bringing sea dispute to UN puts gas project at a standstill

Jan 24, 2013 - 5:21 PM

The oil and gas exploration at the Recto Bank is put on hold as the Philippines elevates the sea dispute with China to a United Nations tribunal

7th Filipino fatality in Algeria carnage identified

Jan 24, 2013 - 3:39 PM

A seventh worker from the Philippines has been confirmed killed in last week s siege by Islamic militants of a remote natural gas plant in Algeria the Department of Foreign Affairs DFA said Thursday

HOSTAGE CRISIS This undated hand out picture released by Norway's energy group Statoil on January 17, 2013 shows a road sign near the In Amenas gas field in eastern Algeria near the Libyan border. AFP PHOTO / STATOIL / KJETIL ALSVIK

Algeria gas workers balance risks and rewards

Jan 23, 2013 - 12:05 PM

The work is dangerous in itself Whether you re in the North Sea or in Algeria on an oil rig you work with pressure and explosives

HOSTAGE CRISIS This undated hand out picture released by Norway's energy group Statoil on January 17, 2013 shows a road sign near the In Amenas gas field in eastern Algeria near the Libyan border. AFP PHOTO / STATOIL / KJETIL ALSVIK

MVP group awaits govt's nod on Recto Bank drilling delays

Jan 18, 2013 - 11:03 AM

The group is waiting for word from the Department of Energy if it can miss some of the deadlines in its approved work program

MVP on Recto Bank: We're talking only to CNOOC

Jan 17, 2013 - 2:35 PM

Other foreign firms have approached Forum Energy for the joint exploration of Rector Bank but Manuel Pangilinan says the oil and gas company is negotiating only with China s CNOOC

DOE to award exploration contracts in Bangsamoro area

Nov 01, 2012 - 1:53 PM

The Moro Islamic Liberation Front earlier called on the government to cancel the bidding of the exploration contracts until a wealth sharing agreement on Bangsamoro is forged

Benham Rise has oil and gas?

Sep 10, 2012 - 5:33 PM

An energy official says this is a good time to do a seismic study on the possible oil and gas deposits in Benham Rise the recently awarded underwater territory east of the Philippines

UNDERWATER PLATEAU. Found near Aurora, the 13-million hectare Benham Rise is part of Philippine territory. Screen grab from a document the Philippines submitted to UN

3 PH groups bid for deals in disputed sea

Jul 31, 2012 - 3:09 PM

In a move to assert sovereign rights over disputed areas in the South China Sea the Philippines accepts bids for 3 energy blocs from exploration groups eyeing potential oil and gas deposits near Palawan

Aside from China, firms from US, Europe also keen on Recto Bank

May 17, 2012 - 5:45 PM

The controlling stakeholders of the consortium granted the right to drill and explore the massive gas deposits at Recto Bank is on the lookout for foreign partners that are not exactly from China alone

Chevron accused of 'environmental crime' for oil spill in Brazil

Mar 22, 2012 - 9:33 AM

The country s national oil regulator estimates that 2 400 barrels of crude were spilled in the incident which led authorities to suspend all of Chevron s drilling operations and to deny the company access to huge new offshore fields

Philex can explore in Recto Bank despite Taiwan protest - Palace

Mar 13, 2012 - 6:47 PM

Despite recent protests from Taiwan Malacanang asserted its undisputed claim on Recto Bank where Pangilinan led unit of Philex Mining Corp is currently conducting exploration activities

Taiwan protests over Philippine plan for Spratlys

Mar 13, 2012 - 11:48 AM

Taiwan protested Tuesday over a Philippine plan to explore oil and gas in disputed waters in the South China Sea where Taipei claims sovereignty

Petron 2011 profits up 7.6% to P8.5-B

Mar 07, 2012 - 5:51 PM

The country s largest oil refiner and retailer reports a 7 6 growth in its 2011 net income citing higher export sales and recovery of regional product cracks

IPVG to acquire stake in Chinese refinery for P2.8-B

Feb 16, 2012 - 4:51 PM

Technology firm IPVG Corp announced its foray into refinery business through an indirect stake in a leading Chinese refinery through its purchase of a stake in a foreign group

Shell pullout a 'business decision,' energy exec says

Jan 04, 2012 - 3:39 PM

An energy official said SPEX s move is part of its risk management strategy and may have other plans for its oil and gas exploration business in the Philippines

The local Shell unit is pulling out its investments in SC-54B