PH eyes energy boost via ADNOC deal

Abu Dhabi, UAE—The Philippine government is seeking to strengthen energy security and stabilize domestic energy prices through deeper cooperation with the Abu Dhabi National Oil Company (ADNOC) following high-level talks held on January 12, 2026.

The Philippine economic delegation met with Abu Dhabi National Oil Company to explore expanded collaboration under the Philippines–UAE Comprehensive Partnership Agreement, which aims to broaden market access, boost investment flows, and generate new opportunities for Filipinos, particularly in the downstream oil and gas sector.

The meeting was attended by Cristina A. Roque, Frederick D. Go, and the UAE Minister of Industry and Advanced Technology and ADNOC Chairman Sultan Ahmed Al Jaber.

Discussions focused on potential avenues to expand ADNOC’s presence in the Philippines as a way to enhance the country’s energy security, given its heavy reliance on imported refined petroleum products to meet rising demand driven by urbanization and economic growth.

Roque said the Philippines is “ready and open” to major foreign energy players such as ADNOC, citing Republic Act 8479, or the Downstream Oil Industry Deregulation Act, which allows 100% foreign ownership in oil refining and fuel distribution.

The Philippine delegation also underscored recent policy reforms aimed at attracting global investors, including the CREATE MORE Act, which provides enhanced fiscal incentives such as income tax holidays and value-added tax exemptions on imported capital equipment.

Officials further highlighted reforms allowing foreign investors to lease private land for up to 99 years, a move that significantly liberalizes the country’s investment environment.

These initiatives are supported by key bilateral frameworks, including the Philippines–UAE Investment Promotion and Protection Agreement and ongoing progress toward a Comprehensive Economic Partnership Agreement.

“Our engagement with ADNOC is part of the Philippines’ continuous efforts to secure a reliable, affordable, and competitive energy supply. Through the Philippines–UAE CEPA, we seek to build long-term partnerships with UAE companies that will strengthen energy security and expand opportunities for Filipino workers and businesses,” Go said.

ADNOC already has a foothold in the Philippine energy sector through its logistics arm, which supports the country’s first liquefied natural gas import terminal in Batangas.

While ADNOC has previously participated in spot tendering with Philippine firms such as First Gen and San Miguel, the government is now pushing for more permanent and aggregated supply contracts to ensure long-term stability.

The meeting concluded with both sides expressing optimism that continued engagement would lead to ADNOC’s planned investments and deeper economic ties between the Philippines and the United Arab Emirates.