South China Sea: Philippines needs to ‘fight’ for oil and gas deposits even without Beijing deal, Marcos says
- President Ferdinand Marcos Jnr said Manila must find a way to explore for oil and gas in the contested waterway after talks with Beijing stalled
- The Philippines relies heavily on imported fuel for its energy needs, making it vulnerable to rising oil prices
Talks over joint energy exploration between Manila and Beijing in the South China Sea had been terminated, the previous government said in June, citing constitutional constraints and issues of sovereignty.
“That’s the roadblock, it is hard to see how we can resolve that. I think there might be other ways so it does not have to be G-to-G (government-to-government),” Marcos said.
The Chinese embassy in Manila did not immediately respond to a request for comment.
Can ‘friendly’ Philippines stay out of line of fire if US-China tensions rise?
The Philippines relies heavily on imported fuel for its energy needs, making it vulnerable to supply shocks and rising oil prices, which have helped push up inflation to a near 14-year high.
The ruling, which China refused to recognise, states that the Philippines has sovereign rights to exploit energy reserves inside its 200-mile exclusive economic zone.
Washington has proposed adding more sites to the current five under EDCA, which allows for the rotation of US military ships and aircraft at mutually agreed bases.
Philippine firm PXP Energy Corp, which holds an exploration permit in the Reed Bank, a disputed area, has had talks with China National Offshore Oil Corp on a joint venture. But Manila and Beijing’s conflicting claims have prevented it from undertaking further drilling and reaching a deal with CNOOC.