AP/Brunei and the Philippines strengthened their ties in oil and gas exploration...
AP/Brunei and the Philippines strengthened their ties in oil and gas exploration Thursday during a state visit by Philippine President Gloria Macapagal Arroyo.
Arroyo and Sultan Hassanal Bolkiah, ruler of this oil-rich enclave on Borneo island, urged closer cooperation among the Association of Southeast Asian Nations to fend off fallout from the U.S. economic slowdown.
Arroyo, leading a delegation of Philippines officials and business leaders on a three-day state visit, said the Sultan had agreed to study expanding a petrochemical consortium with the Philippines.
Earlier, two Bruneian and two Philippine corporations associated with Shell (RD), principal developer of Brunei's energy industry, signed agreements for joint exploration of oil and natural gas, and for training personnel in running a gas pipeline.
At a state banquet in Arroyo's honor Wednesday, Hassanal said that unity in ASEAN is a vital issue as the grouping confronts a new economic downturn after emerging from the 1997-98 Asian financial crisis.
petroleumworld.com
