THE PHILIPPINE Supreme Court (SC) has voided a 2005 government deal with China and Vietnam for joint gas and oil explorations in the South China Sea.
THE PHILIPPINE Supreme Court has voided a 2005 government deal with China and Vietnam for joint gas and oil explorations in the South China Sea.
In 2005, the Philippines under ex-President Gloria Macapagal-Arroyo entered into the deal with China and Vietnam through their state-owned oil companies. “Such designation does not detract from the fact that the intent and aim of the agreement is to discover petroleum, which is tantamount to exploration,” it said.
Last week, Chinese President Xi Jinping told Mr. Marcos China was ready to resume oil and gas talks with the Philippines, according to Chinese state television.
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