Philippines' MULTI-BILLION Oil and Gas Deposits can BOOST the Country's Economy
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- Опубліковано 26 жов 2023
- #westphilippinesea #southchinaseadispute #oilandgas
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These are the Economic Impacts of the estimated $26.3 Trillion oil and gas deposit in the Philippines
The Philippines’ hydrocarbon fuel self-sufficiency remains a pipe dream for the Government for decades. Though it’s not a question of where and how much the deposit is, it is a question of when it will be fully materialized. According to the Data gathered and reported by China’s Ministry of Geology and Mineral Resources, and also confirmed by the U.S. Geological Survey, the oil deposits in the Spratly Island alone could reach 17.1 billion barrels.
With the recent additional discovery of oil reserves in the Celebes Sea particularly within the administrative area of Sulu and the rest of the country. The value 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.
Once commercial production starts, granting that the surveys are accurate, it could potentially provide a significant portion of the Philippines’ Gross Domestic Product.
In comparison Indonesia, the region’s biggest oil producer with a production of about 743,000 barrels per day in 2020, contributed at least $140 billion annually, or about 12% of its economy.
If the Philippines can produce at least the same level or a bit higher than Indonesia, the country’s oil and gas industry can contribute at least $150 billion or more annually, to the country’s economy. Making the Philippines the second-biggest economy in the region, surpassing Thailand with a GDP nominal of $505.9 billion.
This will also enhance the competitive edge of the country in terms of Manufacturing goods. With a lower production cost, the Philippines can now compete with Vietnam and Indonesia, the region’s cheapest producer of goods. Making the country an ideal alternative location for Manufacturing Hubs in Asia. Those, increasing the overall direct foreign Investment in the country.
In addition, transportation costs and other basic commodity prices will be now more economical. With locally produced oil, means no more import cost, making petroleum products cheaper. In effect, transportation and other logistics will be cheaper, lowering the cost of basic commodities such as agricultural and other processed products.
When commodity prices are low, and even the household income remains unchanged, it means higher disposable income for that family. In other words, a household’s regular income would afford more amount of goods. With these, inflation in the country will remain low.
Currently, a 10% rise in oil prices could add 0.4 percentage points to Philippine inflation. To add, the Central Bank of the Philippines also sees the high oil prices to drive inflation as high as between 2% to 6%. This situation will be diluted when the Philippines will produce domestic petroleum products.
Overall, these will enhance the private domestic consumption of Filipinos which remains the main driver of the economy, accounting for 70% of the country’s economy.
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The Philippines doesn't need China's consent to drill in it's EEZ. Protection from US and partners however is needed. Don't wait till China starts drilling !
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COOKING STORIES ABOUT OIL IN THE PHILIPPINES THATS WHY US AND ITS ALLIES TRYING TO EASE OUT CHINA IN THE CONTESTED AREA?
That area is ours accdng. to the Court of Arbitration and UNCLOS , Why are you afraid Mr. President ? do it now ! to show to the World that we are following the UN resolution . Fastract ! the AFP M. buy more fighter jets , missiles and warships . don't be Corrupt so we could accomplished all of that military assets .
Super proud of the Philippines! Have a great weekend everyone!
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60-for Philippines 40 for partnership. Not bad❤🇵🇭👍
Not fot sectors like:
1. Airlines, airports
2. Domestic Shipping
3. Tollways and expressways
4. Subways and railways
5. Telecommunications
6. Retail and Micro business with higher than $200k investment
7. Renewable energy
That now can be 100% owned by foreigners under R.A. 11647 signed on March 2, 2022 by Rodrigo Duterte.
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GOD 'BLESSED' THE PHILIPPINES!!! 💪💪💪💪
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GO GO GO GO PHILIPINES TO THE MULTI BILLIONS PROJECTS
The Philippines is rising and will be like Israel in the time of King Solomon 👑
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The Philippines need capital to build the production equipment. They need to partner with the oil producers to extract the oil and gas.
Saudi and Qatar possible
NO, oil countries will soon be out of business, by 2030 oil will be obsolete
I hope this MIF will push thru this..
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Phil is distined to become one of the richer country on earth.
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Look at the continent of Africa. Destiny is not so kind when the white people are leeching off.
The construction of oil refinery in Sulu is still going on, not yet done, it takes 5 years more to complete. They build first the refinery with the cooperation of JICA of Japan. It is not just an Oil Refinery but a NEW MODERN CITY in Southern Philippines, in Sulu province. Aside of oil refinery, it has complete City Facilities like modern Housing Projects, Roads, huge Water Desalination for Drinking Water and fir Domestic Uses, Electric Power Plant, Schools, Markets, etc... So, that project has 10 years period to complete.
Aside of New Modern City and Oil Refinery, there is ANOTHER BIG PROJECT of the Philippine Government in the same Province in Sulu-Philippines which is the SEA-GATE between Sulu Sea and Celebis Sea,...when it completed every Ship that passes the GATE would Pay certain amount.
Every year about 50 Thousand Ships would pass that area in Sulu Sea, ships from Japan, S Korea, Taiwan, China, from South America, from India, from Middle East countries, from Thailand, from Indonesia, Malaysia, Singapore, Brunei etc....later these Ships would pay Tax in the Philippines by passing in the Philippine Territory. Everytime those Ship passed in the Sulu Sea, they made a destruction of the Biggest Fish Sanctuary of the Philippines located between Sulu and Palawan provinces, therefore, those ships must pay the damages they created.
That sounds good. I hope Sulu will become modernized so they can reclaim Sabah.
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It's time for philippines to dig our own oil and gas deposits so that we have our own supply. Our country have many untapped oil and gas and just waiting how we take it. It can boost our economy more.
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Hope Petron will explore the oild field not other foreign companies
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We need immediate action not just a news or to much talking on this matter.
The real reason why China wants to have a share of a pie, asserting that they own the whole South China Sea.
Yes
And if China is allowed to extract Philippine oil, they will destroy Philippine beaches by intentionally leaking crude oil in the WPS. That way, they can destroy Philippine tourism as well which they think competes with their tourism. Never ever allow China to use an oil rig in the WPS.
Alam ng China at alam den ng US Ang mga yan ang tanong, Sino sa kanila ang gustohin natin bilang maging katuwang sa pag mina ng langis,ung kapit Bahay na China o Ang US na matagal na raw natin kakampi Bansa.
Bullshit. China owns this shipwrecked region before oil was discovered. It's ASEAN countries that took China's spratlies because of oil...
@@JaniferCadungog-cu9nx , the US has more than enough oil and gas of their own. It’s Biden that’s holding back US oil to keep prices up.
This must be mined ASAP...
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I know. I don't know what on earth is wrong with the Philippines. It is doing nothing. China who doesn't own the Philippines has already put tubes to suck Philippines' oil.
I hope Our Country would be focus And Better to the people we praying and hoping for in the future 🙏🙏🙏🙏
I pray the PHP investments goes into solar and battery storage. It's the future and the trend is just beginning only because the price is cheaper pretty kWh than any other energy source
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Likewise, it is also and attractive for scalawag Filipino politicians as an encouragement for corruption...
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That's why we need that Charter Change to be implemented immediately.
ganda pakinggan kaso karamihan dyan hanggang ngaun pangarap parin...,kakulangan s badyet o equipment b?,kya nman cguro gawan ng paraan ng gobyerno yan kc di lang triple balik nyan,siguradong iaasenso nman ntin
Philippine government has to start drilling inside the map where it was shown. NOW! $Trillion can prosper the economy!
thats how our country was called Pearl of the orient seas, because of very abundant natural resources that we had, , everyone wants to get a share of the pie...
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I've heard people ask countless times when the Philippines will start drilling the $B22 trillion oil reserve. When will this actually take place?
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Yes! When will they start drilling and producing all the trillions and trillions of oil wealth? If it is such a great resource where are the producers?
I hope you don't believe the Chinese data as we all know that the Chinese are puffing themselves up to look like they are important again.😊
it will take place in our imaginations 😂
Lol im not sure but why does it take a long time.. hopefully it's not because of ningas kugon character of philippines lol... how can we change the country? Can we pray it as well to GOD.. always praying and just waiting best quality of filipinos lol
Mantap
❤❤❤🇵🇭🇵🇭🇵🇭 let’s gooooooooo
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Kailan Kaya. natin ma extract itong sinasabing kayaman ng ating bansang Pilipinas Sana po lahat nito magkatutoo at na mahukay na
mapakinabangan ng lahat ng Pilipino salamat GOD BLESS at mabuhay Philippines.
yan lng, inaangkin na ng mga singkit
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THANKS FOR THE INFORMATION AND UPDATES. MABUHAY PO
Thank you too
Should be tapped emmediately to address the high cost of imported oil. Philippine govt. Should provide safety measure by providing military assistance during drilling of oil
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thats why we are modernized our armed forces
Unfortunately china is the one who's gonna reap the benefit, unless philippines takes a hard stance and fight china.
based on the map that was shown. no
@@shadowheart2337 i was talking about spratlys and scarborough, those are the areas with the most hydrocarbon deposits according to the geological survey.
@@deancafe4739 why don't philippines government explore the untapped oil and gas deposits in linguasan marsh mindanao? It said that linguasan marsh are rich with oil and gas deposits.
@@beastmood6635 i dunno, ask the government.
@@beastmood6635 They already are exploring the Liguasan marsh. Look up SK Liguasan Oil and Gas Corporation. And it's not just the Liguasan Marsh. There's partnerships with different nations including Israel (specifically in the Palawan exploration).
start now para naman ma experience natin ang kasaganaan ng kayamanan natin god bless our pbm❤❤❤🙏👍👍💪
Yes, the biggest question that needs to be answered is WHEN will it be extracted? Even deposits extraction in Mindanao hasn't started up until now. It remains to be a dream.
When will all this materialize, I am dying to see the Philippines look like Saudi Arabia, infrastructures , gold atm’s woooow!May all the goals come to fruition
Yes PH shall improved lives of people
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Usa: Knock knock
Norway: aaaaa!
Usa: i will stole oils
Norway: noooo!
Usa: phillipines your oil
Phillipines: thanks bro
Improvements will be limited until the power outages and poor connectivity issues are resolved. I sure hope that is on the agenda.
Renewable energy, and battery storage will be the standard by 2030 because of it's cheapest costs, cleanest, and less overheads
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60% for the Philippines 40% for the parneship ITS not so bad.. But no parmership to China!! better to Europe but never to China, thats why the Chinese is want the whole WPS ☹️☹️☹️
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US propaganda is unbelievable. Just like the wars it creates around the globe.
With this data might be the reason why China is asserting its objective to control Spartly Islands to take advantage of this precious resources...US too
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" THE PHILIPPINES IS VERY SLOOOOOW TO SEARCH AND MINE THEIR GOD'S GIVEN WEALTH AND PROSPERITY "!!
❤BAGONG PILIPINAS BBM PARA SA PILIPINAS ❤
PBBM, Pls. po bilisan na ang pag drilling ng Oil and Gas sa buong Pilipinas ng ma tamasa naman naming mga mahihirap at ng inang bayan ang biyaya ng Dios at ng kalikasan. Salamat po.
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Look at vietnam. Mayanan na kasi nakipag joint exploration sila
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When i heard. That oil in the Philippines im in high school till now nothing happened it is a dream for all Filipinos but not improving so sad im now 40 years old now, many president pass also pass but nothing
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One thing about these oil and gas discoveries that is rarely discussed is the MILITARY AND STRATEGIC advantage it poses. Specifically, the Cagayan Valley deposits can potentially put oil much closer to the northern military bases. That makes it dang easier for the US to refuel and resupply. Also, if you look at the map, the distribution of deposits are almost evenly scattered across Luzon, Visayas and Mindanao. That means there will potentially be less cost at transferring fuel. It also adds a level of redundancy in case a military strike hits even one of the oil wells. And then there's Japan who's heavily reliant on oil and LNGs, but doesn't have their own deposit. The US has military bases in Japan. Since the shipping lines between Philippines and Japan is well protected from China, oil will not be a problem if ever China decides to invade Taiwan. And finally, there's Taiwan itself. You can immediately see why Cagayan will be a strategic security advantage for the entire first island Chain.
And that's not all. Look at the oil map and look at where all the US military bases will be stationed. It'd be like drinking from the tap. It's almost unfair against China.
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Ang problema sa government natinkatulad ng fighter jet Yung grepin hangang ngayun wala,Yun iBang bansa kolang na lng sabihin na modernize na ninyo Ang Philippines air force,bigyan ng f16 ayaw pa tumangap na gusto nman, Yung corruption nasa government parin
It is rarely discussed because nobody needs to hear the US propaganda as a strategic advantage for the US. Just get out and the people will rejoice.
hanggang sa watching na lang tayo..never bigyan bg pansin na pasimulan ba ito. WHAT ARE WE WAITING FOR!!!!!!??
@@kabysummit5801 You butthurt commies should just stay quiet and cry in a corner while we let more Americans in. Hmm... Maybe we should give Indians access too LMAO.
Pres Bong bong Marcos, should take a look and help to make these natural resources of ours materialized, if this materiales our country will be one of the top producers of oil in south east asia
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If this oil exploration will pursue, in few years time... the Philippines will rise again..❤❤
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I hope this influx of natural resource wealth comes to frutition for the Philippines. But given the systemic and cultural corruption in the country, I doubt the people that really need the boost will see much of the wealth and the few elites will simply grb the money and hoard it.
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Yeah that’s a part of the problem. The other part is the US meddling in the territory redirecting the focus on China while stealing our resources in the name of payments. Just like the mafia that it is. Pay up or else.
Focus on Domestic Requirements, and achieve the status of Full Independence through Self Sufficiency and Avsilability of Products and Services for our People....Love begins at Home...Never be subservient to the needs of other nations...Yet, never be selfish to the needs of other countries...
Great if no corruption Filipinos will benefit
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Kelan pa kaya mangyayari to, baka di kuna maabutan...
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it can but only if it the government deals with it properly, if mishandled or they make a wrong move, the country will loose a big part of their economy
Before there was no problem, because there was a joint siesmic study by China, Vietnam and Philippines, if the joint development had only been continued by now it should have producing already and no problem.
Now military conflict is already in the horizon
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The Philippines might finally utilize the oil and gas industry thru Saudi since PBBM has been there, its more likely a possibility.
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Start NOW.., With the NAVYs secruity assistance.
Why havent STARTED YET. ESP. the LIGUASAN.?
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Watching
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I hope it will be done ❤
🤑🤑🤑🤑🤑🤑
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Phil natl oil company and petron should drill and produce oil the soonest time
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Wish ko lang wag lang mapunta sa mga bulsa ng mga politikong nag papayaman lalo cla pag may gasoline na
God bless Philippines
This will make a difference if politicians will not pocket the proceeds!!
Solar could provide gigawatts to produce energy
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Yes !!once this oil drilling start and
Sells in the market, ? Where these massive amount do you think to
Go???
This natural resource become a magnet host to goVERNMENT TOP OFFICIALS!!
Actually venezuela is very rich country and venezuelan are very wealthy in 70s & 80s
Now Venezuela 🇻🇪 is one of the poorest country
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The rich and powerful would be happy, not the ordinary Filipinos though.
❤️❤️❤️❤️❤️❤️❤️
🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭🇵🇭
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But the price of gasoline still remain high as..locally produce gas....not observed like malampaya oil well..
wow
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Exhaust all the gas and oil deposits in Reed Bank. Don't let Chinese bully you
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Its sad that the PBBM still cant push oil production thouroughly😢😢😢😢😢😢
May I ask if you are with the Department of Energy? If so, why is the government not keen on pushing the oil and gas development industry? If not, how did you know they are not pushing?
You mean PBBM is superman can do it overnight? Use your coconut.
@@raulsaria2247 🤣🤣
The construction of oil refinery in Sulu is still going on, not yet done, it takes 5 years more to complete. They build first the refinery with the cooperation of JICA of Japan.
@@lunar-e.6620 they should take the oil and gas from linguasan marsh, it is rich with untapped oil and gas
Wondering when drillings will start?
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They better build their military) navy
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You NEED to start mining YOUR OIL PHILIPPINES. You dont need anyones permission...this is YOUR COUNTRY
Old fantasy story, so unreal. Mga alamat at kwento ni lola basyang😂
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hahahahaha
The Philippines has to make use of these oil reserves. Let us not allow any foreign power to grab it. Let us not give in to force and intimidation. We should elect leaders who will fight fot our rights, sovereignty and territorial integrity. Oil exploration should start now!
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Sana Germany na Lang ang mag drill SA west Philippines sea
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While I like what you're saying here and possible oil production will benefit the philippines immensely, just who will provide the technology and financing to bring all this oil and gas into production? These deposits have been known for years, so why havent these fields come into production yet?
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ALL TALk and LITTLE ACTION
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provide affordable housing to many Filipinos,
make it harry to drill the oil before 2030,because according to UN in2030 they want to reduce using focel Fuel,
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Sana mag materialize yn😅
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Priorities na yung oil saka na yung gas! Yung talagang kelangan sa lahat!
Hello we need more gas than oil. Our electricity will sky rocketed if Malampaya can no longer supply us with those mineral deposits
Philippines are rich with oil and gas, our country have many untapped oil and gas deposits. Like linguasan marsh rich with oil and gas.
pwede nang magpatakbo ng electricity gamit na ng gasoline from oil?! tama?! kaya unahin muna oil saka na yung gas.
@@jeffrey8458 😂😂😂
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The problem is: Philippine Presidents are too terrified to defend their EEZ from a China that’s bankrupted depopulated and hated by powerful countries. Philippine Presidents don’t know how to make strategic geopolitical moves because they lack the in-depth knowledge of geopolitical realities. Their calculus is simple: how many soldiers, warships, fighters and bombers, submarines vs. the Philippine Military. They fail to take into account who has the powerful alliance, economies, demography, diseases, local political turmoils, quality of training, quality of technologies etc. China is a paper tiger that’s been deeply suffering from all the internal and external factors a country could ever take; they’re barely able to afford those Coast Guard ships’ expenses their using to harass the Philippines.
The truth of the matter is: China can’t invade the Philippines even if it wanted to for the reasons mentioned above specially now that the US is heavily entrenched in their country. I don’t believe they will use their nukes even if Xi ordered it because their own military will refuse to use it. If Xi could, he would have nuked Taiwan by now.
A good time to push back the Chinese intruders with cannons would be when the 3- Brahmos missile systems arrive and are deployed this December, plus the use of the Jacinto Class, the Israeli-made patrol boats and FA-50s would be sufficient enough to push their Coast Guard. If their big warships arrive, threaten to use the Brahmos missiles. Use them one at a time until they leave permanently.
Once the Philippines proves to the Chinese that they’re not afraid to fight for their EEZ, the Chinese will finally back away as they did with Argentina, Indonesia, Palau and South Korea.
Until the Philippine Presidents are able to defend their EEZ, those natural resources will never be extracted and the Philippine population will continue to struggle. Is the rest of the population important enough for Philippine Presidents? Apparently not! It’s their skins that they’re more worried about. But why even run for presidency when you’re unable to put your own people before you?
@@user-pt1rw4sx6t , who?
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Call or get help from British Petroleum to get the oil.
no one cannot stop..what is the maharlika country is to be..
Yes!! If you waiting for the outcome if China come first to start the oil drilling!!
knock knock my friend
both are hardcore allies. so freedom wont come 😂😂
Still hoping
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nag sulputan nga mga gas sa pinas ma lupa man o matubig..
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If those things is available, why not start the exploration, get the partners who are realable to be a partner avoid china...beside if these are the only way how to develop the country better start it now, like indonesia n vietnam..they have the drilling to their area, the country is far behind to neighbouring countries because were lack in so many things...so I hope our GOVT will starts those necessary moves to utilise such natural resources of the country right away...
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Amen! God Save us from Greedy Chinese
Philippines is part of ASEAN too..
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Drilling natural gas Philippines become rich nation
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Here comes the sad truth...this will come in 2040! AMBISYON ( VISION) 2040!
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Joint Venture with Japan or US
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What are you waiting Mr President Marcos
Dami nanaman kwarta nanakawin ng mga hinayopak😅😅😅
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Simulan nio para mniwla kmi puro pkta ng gnyan ibat ibang platform na wla nmn nasi2mulan hahaha 😂🤣
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For me other than this can supposedly boost the economy, it can also boost the pockets of many government officials and politicians. Philippines should come up with a very effective and lethal way to prevent these corruption from happening but the problem is as we can see it right now how can the government do that if they or even their closest friends or families are part of the corruption.
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Even USA oil companies are corrupted, and let's not start talking about thre Arab nations. Your "prevent corruption" bullcrap is a pipe dream, you don't know a single thing about how reality or any government works.
Hukayin nyo na mg Bossing
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i hope it wont be like venezuela.rich in oil but poor country.
Because of US sanctions.
@@christophertubig8267 they monopolize oil.that's why. there's even U.S base near oil reserved in Philippines
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Luzon lng at mindanao an naalala ng tandem marcos at duterte.pwee
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Thats why china??? 😜😜😜
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yan lang may Ron pa papaano yong DEUTERIUM GAS..
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Lol
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