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Event Background

The elevated oil price was widely pronounced to be the “number one culprit” of the Philippines’accelerated inflation in 2018, the government agencies were endeavoring to handle the consequences that the high oil price has brought.

Although new round of CECP for oil & gas exploration was being initiated, with domestic upstream oil & gas activities harnessed, oil price elevated, and domestic demands enlarged, the Philippines had to pay more for the imports under a tightened monetary policy. The first half of 2018 has witnessed 54 percent crude import cost increase on a year- on-year basis and 34 percent that of the refined products. Balance between various options to tackle the major challenge is worthy of discussion in the dynamic market.

To track the urgent need, DOE has tried to importing lower-cost but dirtier diesel oil. The industry players would then require extra but obsolete storage bulks, pumps, and pipes to coordinate with the resigned move.

Mitigating the temporary supply burden does not mean giving up sustainable options. With refining capacity remains, refiners can process heavy but cheaper crude oil. Eyeing a longer-term growth, challenges shall be tackled one by one. Expansions on existing refineries and preparation for new petrochemical plants require funds, while reducing natural hazards’ impacts is another necessary step before any moves in the country.

The country is open for any possibilities, which makes it worthy of discussion on biofuel refining capacity expansion, retail gas supply chain estaliblishment, and reliationship between hydrogen economy and fossil fuel. While thinking before acting is an efficient way to lower the expenses, minimizing cost for operating existing facilities is also an interesting topic.

After the the success of delivering ASEAN and Vietnam conference series, we are proud to organize event for Philippines to discuss the above issues and to become another bustling market in the SEA downstream sector. The International Downstream-Tech Philippines Conference 2019 will provide a unique platform to network and to share insights for regulators and policy makers, investors, regional and local refiners and petrochemical producers, gas industry stakeholders, EPCs, technology licensors, and thought leaders.

We are looking forward to meeting you in the onward Manila!

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