TSX:SAU - Post Discussion
Post by
db2067 on Dec 21, 2020 12:00pm
Lifting of WPS exploration ban
This bodes well fo the lifting the open pit mining ban...
https://www.gmanetwork.com/news/money/economy/760221/oil-shares-leap-on-duterte-lifting-of-wps-oil-exploration-ban/story/
Published October 16, 2020 7:41pm
By TED CORDERO, GMA News
Oil shares leap on Duterte lifting of WPS oil exploration ban
Oil and mining shares listed on the Philippine Stock Exchange saw an increase in their prices on the heels of the government’s announcement that the temporary suspension of petroleum exploration and drilling activities in the West Philippines is now lifted.
The Mining and Oil index increased by 720.57 points or 10.79% to close at 7,398.21.
“The lifting of the oil exploration moratorium in the West Philippine Sea to ensure the supply of energy resources boosted the oil and mining sector, particularly those listed companies that have a stake in Service Contract 72 (Recto bank),” Christopher San Pedro, Unicapital Securities equity analyst, said.
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