Philippine energy dept., Japanese firm sign oil reserve plan deal

Politics Economy Society

The Philippine Energy Department and a Japanese corporation signed a memorandum of agreement Wednesday under which they will cooperate in creating a petroleum reserve plan of the Philippines in a bid to prevent any shortage that could arise from the coronavirus pandemic and other factors. Officials of the Energy Department and Japan Oil, Gas and Metals National Corp., a Japanese incorporated administrative agency, signed the agreement, starting an eight-month study for creating the oil stockpiling program as well as updating the Southeast Asian country's oil contingency plan. Philippine Energy...

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