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Phoenix Petroleum and CNOOC sign MoU
June 6, 2018
Source: Inquirer.net

Phoenix Petroleum and CNOOC sign MoU

Phoenix Petroleum has stated that it has signed a MoU with Chinese-CNOOC Gas and Power Group Co Ltd for the development of a LNG terminal in Philippines. The companies have mutually agreed to ‘study, plan, and develop’ the LNG project, which will result in a broadened portfolio for Phoenix Petroleum. Several power plants with a total generating capacity of more than 3,000 megawatts are facing problems due to LNG shortage.

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