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MANILA, Philippines – The Maharlika Investment Corporation (MIC) and the Philippine National Oil Company (PNOC) have agreed to explore developing a storage tank farm in Bataan to boost the country’s energy security.
In a statement, MIC said the memorandum of understanding between the two state-run firms establishes a framework for cooperation in evaluating the project, which forms part of a broader strategic petroleum storage initiative targeted for 2028.
READ: Maharlika eyes oil storage venture with PNOC to boost energy resilience
The deal was signed last June 29.
