Philippines Multi-Trillion Dollar Oil and Gas Industry: Impact on PH Economy
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- Опубліковано 14 бер 2024
- The Possible Economic Impact of Philippine Multi-Trillion Oil and Gas Reserves.
Accordingly, the nation holds a staggering $26.3 trillion worth of untapped oil deposits, located within the country’s 200-mile Exclusive Economic Zone. The vast oil reserves of the Philippines are found in various parts of the archipelago, specifically the Reed Bank, the largest of them all, and the Mischief Reef in the Spratly Islands.
According to a report by the U.S. Geological Survey and China’s Ministry of Geology and Mineral Resources, the oil deposits on Spratlys Island could reach 17.1 billion barrels.
With the recent discovery of oil reserves in the Sulou, particularly within the Celebes Sea. The amount of hydrocarbon deposits in the country could be more than $26.3 trillion, more than the 13 billion barrels of oil deposits of Kuwait, one of the world’s top oil producers.
The U.S. Energy Information Agency, estimates that the South China Sea holds about 190 trillion cubic feet of natural gas, and 11 billion barrels of oil, in proved and probable reserves. Most of which lie along the margins of the South China Sea, rather than under disputed islets and reefs.
While the U.S. Geological Survey in 2012, estimated that there could be another 160 trillion cubic feet of natural gas, and 12 billion barrels of oil undiscovered in the South China Sea. Beijing’s estimates for hydrocarbon resources under the sea are considerably higher, but still modest in relation to China’s overall demand- were the country’s oil consumption in 2018 is expected to top 12.8 million barrels per day.
This year, the Washington-based Asia Maritime Transparency Initiative reported that several countries are pursuing new oil and gas development projects in those contested waters, which, the organization notes, could become a flashpoint in the disputes.
Between 2018 and 2021, there were numerous standoffs between China, Vietnam, the Philippines, and other Southeast Asian countries over drilling operations in disputed area of South China Sea, and fears are building that even more severe confrontations lie ahead.
Fresh conflicts in the South China Sea may arise as claimants - excluding the Philippines - push ahead with oil and gas projects in areas Beijing claims, according to a new report. Data from US-based Asia Maritime Transparency Initiative, detailed claimants’ new offshore projects, many of which lie inside China's sweeping nine-dash line claim, including sites where confrontations previously took place.
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Shame to former leaders and officials failed to secure and protect the exclusive economic zone and territories of the Philippines 💔
You mean digong??? Oh yeah what he did is just trying to broadcast in public that he's got a bigger manhood compared to his friends!!! What a president acting like a drug addict!?!?
Mabuhay ang Republika ng Pilipinas 🇵🇭🇵🇭🇵🇭
PBBM SHOULD PRIORITIZE THE OIL AND GAS PRODUCTION🇺🇸❤️🇵🇭
He already sold the rights to explore and exploit the oil & gas deposits to the Western Globalists. 😂😂😂😂
@@baldeagledelta3482 so sino ba dapat partner? Yung china? May kakayahan na Tayo mag drill?
Pili Ka china? Or western?
@@alanyosores5642
Ikaw lang naman nagsasabi na partner yung China.
We should partner with a neutral country not the Western Globalists.
@@baldeagledelta3482 neutral country? Who? Walang neutral country na may kakayahan mag drill...china Lang at America..
Ngayon kailangan pumili Ng ISA...para mapakinabangan nayan...Kung Hindi ngayon, kailan pa? Kung na upgrade na ang technology at Hindi na need ang gas😂
@@alanyosores5642
I trust Japan better. They were our former enemy but changed my mind because the help they’re giving us lately🇺🇸❤️🇵🇭
Good news sana maoperate kaagad.makapagpruduce tayo ng sarili nating oil well🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🙏🙏🙏🙏🙏🙏🙏
😲wow Philippines 🇵🇭 God bless 🙏
Ahba YAHAWAH bless the PHILIPPINES will be the HEAD in the near FUTURE.
Phil need to be a strong military power to fight invaders
invenders : which inveders .... do you mean China that NEVER invated or bOmbed any country WHILE AT THE SAME TIME the US been inveding, bombing and stealing resources of other countries during the last 80 deadly wars created by the USA military ............... who is the invader please clarify
It will be done in the right time,good luck beautiful. amazing. Philippines
Thanks AA for another informative news about Philippines oil and gas reserve.
Our President BBM was really true about the
GOLD, OIL and I forgot the last one but I thank God through Lord Jesus Christ blessed name for giving BBM to us.
Now wehehehe malapit na ang babaan ng pr-c_ wehehehe
Salamat Panginoon Jesus Christ
Hahaha, ang layo mo naman, paano nasali si BBM dito.
🙂
Kmusta na ang Php20/kilo ng bigas?
Anong akala mo kay BBM Divine Being?? 😂😂😂😂
LOLOLOLOKOLOKO😂😂😂😂
Pulvuron Yun Ang last😂😂😂
@@joelarjona3937kung maka Digong ka, at di mo nasusundan mga statements ni PBBM eh wala ka talagang alam. When he went to China last 2023 sinabi na nya kay Xijinping na kailangan na nya ang oil dahil mauubos na ang langis sa Malampaya pero may hindi sila napagkasunduan kaya nag pivot si pbbm sa US. Panoorin mo sa news balikan mo mga news last 2023, kasi ako napanood ko yun, may isang interview ni PBBM na sinabi nya yun.
@@user-jm2iw8fz4dBaseless ang pulvoron issue, walang laman, pero ang fentanyl totoo yan. so bakit mo inuulit ang isang baseless accusation? ano tawag sa mga taong ganyan ang pag iisip?
I hope this would happen...not now but n d coming days or years...God Bless philippines and more power to our hard working president...
May God bless & protect the Philippines soil & water from greedy liers enemies..🙏🙏🙏
Asean Top 2 - Philippine Economy by 2033
$1.1 Trillion US Dollar - The Royal Family Company
the Republic of the Philippines 🎉❤✨👑
No! It's 26.3 trillion $ worth😂😅
Delulu
Royal??
And who would be the Royal Family?
The Marcos, Romualdez and Aranetas??😂😂😂😂
Uunlad ang PILIPINAS!!! :)
@@baldeagledelta3482 may ari nang Sabah 😂
After its defeat in the Spanish-American War of 1898, Spain ceded its longstanding colony of the Philippines to the United States in the Treaty of Paris. On February 4, 1899, just two days before the U.S. Senate ratified the treaty, fighting broke out between American forces and Filipino nationalists led by Emilio Aguinaldo who sought independence rather than a change in colonial rulers. The ensuing Philippine-American War lasted three years and resulted in the death of over 4,200 American and over 20,000 Filipino combatants. As many as 200,000 Filipino civilians died from violence, famine, and disease.
In 1907, the Philippines convened its first elected assembly, and in 1916, the Jones Act promised the nation eventual independence. The archipelago became an autonomous commonwealth in 1935, and the U.S. granted independence in 1946.
Reference: The Philippine-American War, 1899-1902
It will take time for Philippines to have oil production in bigger volume but it was started long time ago and doesn't improve. But still Filipino don't loose hope. Mindanao started and other areas. I hope they will concentrate on this task..Mabuhay Ph....
sna po bilisan n yan at bka mahigop p ng mga tsekwa yan
Sana po matuloy na project para sa oil and gas
Production Ng Marcos Goverment
Philipp1ines will supply korea japan snd taiwan definitely.
Good news Philippines.
MAHARLIKA New PHilippines Mabuhay
Thanks for sharing 💙🇵🇭🌈💥 from Sydney Australia 🇦🇺 🇵🇭
Thats why our greedy neighbor wants to harvat our territory😂😅😊
Our nation will be very strong once oil and gas is already tapped. But our government must start the drilling ASAP.
KUNG PUNO NA NG NUCLEAR❤❤WEAPON ANG ATING BANSA WALA NANG MANGAHAS MAMBULI SA ATIN.
Snippet: Kung may la-ngis, go ahead and extract. We could use it for the re-building of our still underdeveloped land. Afterall, world war-2 wreckage has come and resoundingly Lo0ng gone -- nearly a hundred years behind us now, and beyond 2 hundred years old from world war-1. Alam ba natin kong saan nakatira ang mga la-ngis sa water territory? Maraming magnanakaw -- wag patagalin. God bless you, PH. mar2024
Sa natatandaan ko po ay panahon ni FPFEM natuklasan lahat ng yan sa buong Pilipinas. Ang aking Panalangin ay walang ibang Bansa ang manghihimasok at walang korapsyon sa pagpapatakbo ng oil at fuel na mina sa Pilipinas, lalo't higit wag ipapasok ang mga isyung pananampalataya at kasaysayan.tnx.
THIS KIND OF NEWS IS ALWAYS KEEP ON COMING BACK. IF THIS TRUE WHY IS IT THAT IT DOESNT CAME IN THE NATIONAL MEDIA...!!!!!!!!!!!!!!!
I hope the government will take action to start drilling now in those expected sites where we can utilize to answer our needs on energy.
It's about time for so many years of waiting that the present administration shall make a decision to invite foreign investors and technocrats to explore our oil and gas reserves for the benefit of our people and country. I believe God will guide and help us to bring Philippines rise up in a stronger economy. Support and be united as one. Mabuhay ang Bagong Pilipinas
How about the Philippine Rise. They should survey that area as well
Sana all
God bless
P H I L I P P I N E S ! ! !
Philippine’s Multi Trillion oil and gas industry, that’s the US main interest. Hopefully the Philippines will keep them for their own. Just as the South African countries.
I wish the Philippines will finally not find pride in their economy in the unknown future tense. All the other ASEAN nations talk in the present tense because their economic goals are realized.
Other ASEAN population are doers while Filipinos continue to be dreamers.
We have so much potential, that's what we want to highlight here. These are facts which when realized will do very good for our economy. So instead of berating us i wish you wish us good things as we do for you wherever you are. We may be lagging behind but we're doing our best now with lots of improvements such as on going infrastracture projects nationwide and hopefully our energy sources will be harnessed next. All of these cant be done overnight, so we are patient, hope you are too...😊
@@UOM2812 Painting everything as a rosy picture will not make us better. No countries in Southeast Asia do that more than the Philippines and Myanmar for the pass few decades, and look how far ahead they are. The size of our ego is way over our head. Delusional as some might put it.
@@jon_nomad if you want to wallow in negativity, so be it. Cant do anything with that. I just want these facts to be out in the open so every pinoy could be aware of our vast potential and be inspired to work, cooperate and be better in all aspects especially in selecting our govt officials. Nothing wrong with looking forward to the future. If you wanna stuck to the present, have fun and enjoy yourself. Dont drag others down.
@@jon_nomad and my positive views doesnt mean im a loyalist of these past and present admins. I totally abhor them as they fell short of their mandates, just sucks having these corrupt politicians but inspite of that, thank goodness we have great natural resources which can be tapped and developed someday and help us get thru our present economic slump. Who makabayan wouldnt like that to happen? If you cant appreciate that, im sorry for you, but i respect your opinion. Time will tell...🇵🇭👍
Oil and gas is done. Renewable energy is the future. Hehehe
Sanga po matoloy na yan bbm mabuhay po kayo godbless po
Oil n Gas will still power the worlds economy for many generations.
Green energy is only a minor contributor.
MAKE THE PHILIPPINES GREAT AGAIN 💖
It's mind-boggling to think about the immense value of our untapped oil and gas reserves. However, the government must prioritize the conservation of our natural resources amid these escalating tensions in WPS. We must ensure responsible management to safeguard our environment and prevent further conflicts.
The senate and congress should pass the law for this natural gas .... For securing and fast the build a oil refinery in our country...
They should have prioritize it even before PBBM!!! Hope that it will be develop soon!!
If it will be tapped, the profit should go directly to State Investment Funds and only a portion of it not exceeding 15% be used by the government to its social projects. This is to not make the Philippines economy dependent on hydrocarbon and be still diversified
ok Lang kung ang manginabang lahat ng pilipino,di ung politiko Lang lagi,
❤ BAGONG PILIPINAS ❤
Wow, the country is setting on huge oil and gas deposits. PBBM must develop these resources to wean us from poverty.
That 10-10 formerly 9-9 is crazy.. chikwa so far frm palawan. They created that theory(frm thin air)..only to access those oils. Cow tongue or devil's tongue😜2b precise❗
ITULOY NA ANG OIL AT NATURAL GAS EXPLORATION. ITULOY NA ANG OIL AT NATURAL GAS PRODUCTION.
Even if the Philippines much less oil production than other neighboring country still the economy is very strong, what if the Philippines have more than enough oil, Philippines would be the richiest country in the world, God bless the Philippines 🙏🙏🙏
Not really Philippines will be hardtime to achieve top 1 and beat u.s.a
Even in the Sabah thier is oil which the Malaysian is now enjoying economically
The Philippine economy is soaring even without the backed up of oil and gas how much more when the country's oil and gas will be tapped? Im sure the Philippines will one of the richest country in the entire world.
they will never be even top 10 this century
@@XiaoxiaoYuyu-ug3gyyou jealous of Philippines superpower 🇵🇭🇵🇭🇵🇭😎😎😎😎😎
@@XiaoxiaoYuyu-ug3gy the Philippines is not aiming to be on top as long as we can be sustainable being rich is such a bonus unlike Chinese people are greedy and crazy mentality who are aiming things which are not belong to them. Now China is slowing down while the Philippines is soaring because God said whoever proud at themselves He will put them down while those humble He will lift them high. Whatever you sowed is what you reaped now China is reaping it's Karma from devine Providence. #CHINADEVIL
@@albertjamesdano1787 u must be a joke 50% filipinos lives in slums and poor
nope how much more if the 🇵🇭 will taps its oil, gas resources and work its tourism, agricultural industry as well as its manufacturing sector for sure it will surpass USA gdp nominal
That's why China has a big dream in that area. What a shame
America: THAT'S MY OIL!
Nothing has happened since the didcovery of oil diposits here in alegria cebu many years ago. Nothing but rusted equipments left by those drillers and the promises of better future for the constituents were all burried and gone.
Vietnam has territorial dispute over the Spratly islands with China. Philippines has to wait till their territorial dispute is resolved and then negotiate with the victor.
vietnam will split with china , china is helping vietnam build a high speed rail
Will it improve piverty incidence?
S@SANAMAGKAISANAA G MGAPINOY PARA UMUNLADNALAHAT NOT ONLY ANG MASAMA G TAONA NINANAKAW PERANGBAYAN SALAMT SSA DIOS
Because of china greediness Philippines can not explore as easy as it is
We are always deprived of our vast energy resources
Mahirap makamit ang pag asenso dahil sa tsekwa. Di natin basta na lang masimulan ang exploration ,etc.dahil sabi ng intsik "over our dead bodies"😂
Why until now nobody do something to tap and produce oil and gas
HYDROGEN FUEL Is in the philippine area,cleaner than fuel,at hindi kelan man mauubos dahil sa ocean deposit..but we need trillion dollar to produce it
its a multi-trillion oil and gas reserve but none of the gov official or gov units are taking this matter into the light thats why until today it doesnt really have a huge impact on the country's economy
Wala ring silbi yang oil and gas if currupt ang Government at may mga makasariling mga elected officials. Look at Venezuela. Sila ang may pinakamalaking oil reserve. 2nd lang ang Saudi. Pero dahil corrupt ang goverent
Mahirap pa din mga tao doon. Ang unang uma talaga dapat magkaroon ng batas is yung ipagbawala na mag invest ang isang Filipino Citizen ng Capital outside of the country. Ang may right lang dapat na magdala ng capital at mag invest sa labas ng Pinas is ang Philippine Govt. lang dapat. Bawala dapat na maglabas ng kayamanan ang isang individual o malalaking conglomerate para etago or e invest sa ibang bansa. Dito lang dapat sila sa Pinas pwwde mag invest. Kaya anglakas ng loob ng mga mayayaman at mga corrupt na officials na wala silang gawing pagbabago dito sa loob ng bansa ay dahil madali sila nakakapag tago ng yaman nila sa labas ng bansa. Kaya magkaguloan dito sa atin napakadali nila magsilayas kase andun na sa abroad mga pera nila.
Lagot na,uunlad nga tayo pero matindi ang impact niyan sa kalikasan maari tayong lumubog sa tubig kapag ubos na ang langis sa ilalim ng lupa!..
Observation: Saudi Arabia, Russia, USA, Malaysia, etc. are not submerged in water even though they do it for decades yet they got better economy.
@@aforadorable6006 pero nagkakaroon na ng baha sa Saudi...
@@BoboyPC2247Natural po na bumabaha dahil umuulan. Tapos po kulang po ang mga puno doon.
Ang alam ko po submerge paunti-unti ang mga bansa dahil natutunaw na ang mga yelo sa South and North Pole. Baka hindi na maging rich ang Pinas dahil lubog na ang ibang mga bahagi nito paglipas ng mga taon. Sayang ang pagkakataon na ito.
HAha in your dreams...it takes decades pra umunlad...let me give you advice..go abroad
First Sabah now west Philippine sea that the Chinese are also claiming
Did anybody feel the "wealth" from the Malampaya oil fields? 😅
Remember. Phillippines has the biggest deposit of deuterium gas in the world. This is the fuel of the future. I hope the government will prioritize the extraction of this white gold.
At last the squatters can live with their own mansions with a brand new Bugatti!😂
Baka nga yang Manila Bay mesmo mayroon malaking deposit ng oil dyan Apr-11-2024.
FPRRD TRIED TO SELL WEST PHILIPPINE SEA TO CHINA!🇺🇸❤️🇵🇭
No to Duterte anymore 😊
You mean give to his mother land China.
Saan ang proof mo na binebenta ni DU30 ang WPS?
Mahilig ka ng kwentong barbero.
:-)
binenta na ata😭😭😭😭,kaya may lakas ang china na bully bully hin tayo
LMAO.
Proof??
Or are you so idiotic to be gullible to fake news and propagandas?? 😂😂😂
Refine your outline so that your statements and graphics do not become repetitive.
that's why china want that part of Philippines
The only impact this windfall would have are to the wealthy oligarchy and politicians.
The population of common people will still remain stagnant and under privileged. 😂😂😂😂
Sana matuloy na Yan para makabawi Naman ang pinas sa pamamagitin ni pbbm ❤
Kalayaan is separate from Spratlys due to its own large island chain distinct from Spratlys. Also, Sabah... A great injustice by peninsular Malay Muslims to the island Malay Muslim... A reason why there aren't Sultans for those two regions in Malaysia which is rightly sovereign to Brunei and Sulu, Philippines.
The countries pretending dispute are very far from the area. Such spineless, shameless people.
Ang tanong kailan itatapped yung mga natural gas na yan? Uncertain nanaman wala bang bagong update doon puro lang exploration noong una pa nalocate yang pagkukunan and yet walang action kapag tuluyang madeplete tong malampaya puro import nalang ulit tayo like sa rice. Hahaha tapos yung ineexport natin manpower para lang may makain sa pinas. Hahahaha
ANOTHER ILLUSION
Let’s Say 60/40 10 Kay Senador, 10 Kay Congressman, 10 Kay Secretary, 10 Kay Presidente, .000000 Kay Juan Ayos 🕺🕺
China has its own coast while the Philippines also own thier offshore energy located in the coast of Palawan not in china
Angtagal Naman Bago pa Yan gawin
MAHARLIKA INVESMENT FUND ay parang sa Alaska - PERMANENT DIVIDEND FUND. Bawat Tao na nakatira sa Pilipinas ay mabibigyan ng ayuda galing sa natural resources(oil and gas) every year. Sinabi nya na lahat ng OFW ay uuwi, walang magugutom, ang buhay ng tao ay magiging middle class. Maraming tao hindi maintindihan ang MIF, dapat ang may hawak hindi ang gobyerno para hindi kurakutin. Sinong may ayaw sa MF? Yong mga naka upo sa gobyerno dahil alam nilang hindi nila pwedeng makurakot. Yong GOLD na hinahap ng mga tao sa mga Marcos. Heto na BLACK GOLD at gustong ipamahagi sa mga Filipino. Nasa harapan na natin pero di pa rin makita ng iba. Alam nyo ba na ang ibinibigay ng Alaska sa bawat tao mula sangol basta buhay pa every year average $4,000 convert mo sa peso yan.
bbm should not give up wps ..
kapag naisakatuparan na yan hindi na tayu mamaliitin nang ibang bansa lalo na nang china at palakasin pa ang ating sandatahang lakas nang pilipinas itona ang pag unlad nang bawat pilipino godbless philipines💖🙏
Electric po
Forget about the past admistrations focus more on oil exploration so that our economy will rise & living condition of Pilipinos & more infrastractures.
REJOISE ALWAYS. PRAY CONTINUALLY, GIVE THANKS IN EVERYTHING, FOR THIS IS GOD'S WILL FOR YOU IN CHRIST JESUS. PRAY FOR PBBM THE GOVERNMENT AND ALL FILIPINOS LOVE ONE ANOTHER AND FORGIVE ONE ANOTHER FOR THIS IS GOD'S WILL TO HIS PEOPLE. TO GOD BE THE GLORY. DO NOT GIVE ROOM TO THE DEVIL BIND THEM IN THE NAME OF JESUS. AMEN 🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏🙏
If other countries will put up capital. Would it be beneficial to our country? We spent billions o dollars in covid. Why can't we put up capital for our own. If other countries had the capital, they will control the prices. Like the malampaya. Does it make the gasoline low? You should not trust budget of other countries. We know what we can get from the discovery. Why should not we find capital from our own money or dollar reserves. Why should not used it... We should stand on our own. We should not rely on foreign debts or loan... Marami pa tayong kahati.
The phillipines should hv joint venture with usa after ww2 to tap the resources. Not wait until now.
dreaming doesnt make u rich. no tap no money. so just import oil as usual no need to forecast future u dont know what will happen. keep dreaming
a ploy by US to meddle and get into PH Parliament Economy and SOVEREIGNITY . 😂
marami talaga natatakot sa.pinas, sa sobrang mahal ba nmn ng mga bilhin nakakatakot na,😂😂😂😂😂
that's why China so aggressive in west phil. Sea
Fun fact: Philippines is the most corrupt country in the world where politics became a family business😂
This analysis is igniting war in the Philippines territory because of this black gold 🥇
Maraming pera ang Philippines. May pera ang mga Marcos... May gold reserve tayo. May pera ang Central bank. Bakit hindi tayo mamuhunan para sa sariling ikauunlad natin. Andiyan na naman tayo ibang bansa ang mag put up ng capital. Sino ang yayaman? Let's stand on our own. Parati nalang ibang bansa ang makikinabang sa natural resources natin. Dapet tayo ang magcapital para tayo ang may-ari hindi sila.
DO NOT TELL THAT TO XI JINPING AND DUTERTE,,
How where and when?????????????????
I DO NOT ACCEPT TO CALL IT "SOUTH CHINA SEA"!!! IT SHOULD BE "SOUTHEAST ASIAN SEA"!!
But u are nobody lol
@@anakborneo8459 It doesn't matter
@@Schjoenz haha it doesn't matter to me too
@@Schjoenz
That’s exactly why.
It doesn’t matter.
Para sa amerikano ata ito
In dreams it fullfil maybe! It's really a barber story it a lies story, only exploration without reality