From the Website of PNA
links: https://www.pna.gov.ph/articles/1271921
PH secures fresh oil shipments; eyes gas boost from Palawan discovery
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PH secures fresh oil shipments; eyes gas boost from Palawan discovery
MANILA – Energy Secretary Sharon Garin on Friday said more crude oil deliveries are
In an interview over state-run People's Television Network (PTV), Garin said the latest shipment from Japan amounted to about 144,000 barrels, while an additional 850,000 barrels are scheduled for delivery from several countries in the coming weeks.
She said the orders were secured after the government held talks with oil-producing nations, including Malaysia and Indonesia, since early March.
"We are also in talks with India, Argentina, Colombia (and) Canada," she said, underscoring the need to diversify supply sources to ensure stable domestic fuel availability.
Garin also highlighted the significance of the recent natural gas discovery at the Camago-3 well in offshore Palawan, part of Service Contract No. 38 secured by Prime Energy.
She said additional output from Camago-3 is expected to strengthen domestic energy supply at a lower cost compared to imported fuel.
"So tatagal ang supply natin ng natural gas at nakakatulong ito sa pagbaba ng presyo ng electricity (So we will have natural gas supply will for longer period, and this will help lower electricity prices)," she said.
In a statement on Thursday, Prime Energy said it is on track to deliver its first gas output from the Malampaya Phase 4 project in the last quarter of the year, following an announcement by President Ferdinand R. Marcos Jr. a day earlier.
The company said the Camago-3 well flowed at rates of up to 60 million standard cubic feet of gas per day.
"The successful completion of Camago-3 demonstrates the strength of the Filipino workforce and the close collaboration between government and industry," it said. (PNA)
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