Enrique Razon Jnr is acquiring a majority stake in the South China Sea gas field Malampaya. Photo: Reuters
South China Sea: Philippine tycoon and Duterte ally Enrique Razon to buy majority stake in gas field
- Tycoon will have a controlling stake in the Malampaya offshore gas field, which fuels power plants delivering about one-fifth of The Philippines’ electricity
- Billionaire Enrique Razon is a close ally of outgoing President Rodrigo Duterte and his business empire has expanded rapidly under the country’s leader
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Enrique Razon Jnr is acquiring a majority stake in the South China Sea gas field Malampaya. Photo: Reuters