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