News Update
Asia's significance and contribution to global issues of energy, climate change and sustainable development has been steadily growing. The update highlights some of the major news stories from various Asian countries offering an overview of the issues, prospects and challenges in the region.
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| Philippines to award oil, gas exploration contracts |
| Business Recorder, 30 April 2012 |
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The Philippines is expected to award 15 contracts for oil and gas exploration in July as the country aims to reduce its reliance on oil imports. The Philippines now imports nearly 330,000 barrels per day (bpd) of crude and oil products and its energy demand is growing by 4-5 per cent per year.
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