Market Report, "Philippines Oil & Gas Report Q1 2013", Published
BMI View: New licensing rounds could lead to a sharp rise in upstream investment, helping to drive long-term growth in reserves and production. However, high oil prices are likely to ensure the country's oil import bill remains high even as efficiency drives slow demand growth. Rising natural gas demand in the second half of the decade could see the Philippines import its first LNG cargo; however, until a FID is made on an import terminal, BMI will not factor this...
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