MANILA, Oct 15 (Reuters): The Philippines is seeking to revive its moribund upstream oil industry with the redevelopment of an oil field that last produced in the early 1990s, as it hopes to wean itself off fuel imports, energy officials have announced.
With the South-East Asian nation importing nearly all of its fuel requirements, high global prices of oil and other commodities have pushed inflation to a four-year high, clouding economic growth prospects.
Already a subscriber? Log in
5.5 PAYDAY OFFER: 35% OFF Digital Access
Cancel anytime. Ad-free. Unlimited access with perks.
