The Department of Energy (DOE) in the Philippines has qualified eight offers in an auction round, signaling a potential discovery of new oil and hydrogen resources in the country. The bids encompass investments in hydrogen ventures in Pangasinan and Zambales, as well as petroleum investments in regions like BARMM, Cebu, and Palawan. While the identities of the bidders remain undisclosed, Energy Undersecretary Alessandro Sales mentioned a mix of foreign and local investors participating. With the successful completion of the tendering process, the DOE highlighted the interest of well-known international players in hydrogen and petroleum sectors. Despite one bid being disqualified for incomplete documentation, the DOE emphasized a positive outlook on the transformative journey these investments may bring after years of drought in the oil and gas industry. The evaluation of qualified applications is expected to be finalized by the end of 2024, with endorsed applicants advancing to the Office of the President for approval. This development marks a significant progress in the upstream petroleum industry in the Philippines, with a cautious approach in regions like the conflict-ridden West Philippine Sea.