RP offers Subic as Libyan oil storage

RP offers Subic as Libyan oil storage

MANILA: The Philippines has offered the former U.S. naval base at Subic Bay, north of Manila, as a storage facility for Libyan oil bound for Asian distribution, the foreign department said on Wednesday.

The proposal was made by Foreign Secretary Delia Albert, who is on an official trip to Tripoli, during a meeting with Abdullah Salem el-Badri, chairman of state-run National Oil Corporation of Libya, it said.

El-Badri said after the U.S. government lifted economic sanctions on Libya, a number of foreign corporations began looking at exploration and energy projects there.

"I suggested to Mr. El-Badri the availability of storage facilities in the Philippines, especially at Subic, for Libyan oil exports to Asia. He assured me that this proposal would be considered in the long term," Albert said in a statement. -- AFP