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Manila Bulletin devider Trade & Energy devider HK-based petroleum firm bares expansion plans in PH

HK-based petroleum firm bares expansion plans in PH

Published Aug 6, 2023 09:55 am

At A Glance

  • "PPIG's current business activities in the Philippines involved oil and gas exploration. Their future investment plans in the country include renewable energy, electric vehicle, power plant, etc.," according to the DTI-Hong Kong PTIC post.

Polyard Petroleum International Group Limited (PPIG) has bared expansion plans in the Philippines including renewable energy, electric vehicle, and power plant, among others.

According to a post in the Facebook account of the Department of Trade and Industry- Hong Kong, PPIG Chairman and Executive Director Lai Chun Liang paid a courtesy call on Atty. Roberto B. Mabalot, Jr., the Vice Consul (Commercial) and Commercial Attache of the Philippine Trade and Investment Center (PTIC) at the Philippine Consulate General in Hong Kong on 26 July 2023.

During the meeting, the PPIG official gave an update on their current operations in the Philippines and their investment plans in the future.

“PPIG’s current business activities in the Philippines involved oil and gas exploration. Their future investment plans in the country include renewable energy, electric vehicle, power plant, etc.,” according to the DTI-Hong Kong PTIC post.

Based on its website, PPIG is listed  on  Hong Kong  GEM (Stock Code: 8011). It mainly engages in the exploration,  development  and  production of oil and gas, provision of  professional  technical services and  trading of  petroleum-related products.

In early  2008 , the company stated that it decided to  concentrate its  corporate  resources on  energy  business, giving  up  its  trading  business  of  pulp  boards  and  papers  and,  formally  transformed  into a professional  explorer,  developer  and  producer  in  oil and  gas industry and commenced at full blast its  investment,  merger and acquisition of projects for exploring, developing and producing oil and gas in the world.

Under cooperation with Lanzhou Institute of Geology, Chinese Academy of Sciences, the company site said it established the Sino-tech Polyard Petroleum Exploration & Development  Research Institute to enhance its technical strength in the field of exploration and development, and to provide relevant technical  services to  support  our ongoing exploration and  development  projects.

By developing and  adopting  of  state-of-the-art  technologies,  the  Institute  assists  in and  provides assurance of  comprehensive  technical   services  to  PPIG and  other  developers  in  oil  and  gas exploration  and  exploitation fields.


 

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