The Philippines is lifting a moratorium on oil and gas exploration in the South China Sea that could lead to the Philippines and China potentially creating a joint venture to explore for resources.
Philippine President Rodrigo Duterte has approved the recommendation of the country’s Energy Department to lift the moratorium on exploration in the West Philippine Sea, Energy Secretary Alfonso Cusi said on Thursday, as reported by Reuters. The service contractors of three blocks in the West Philippine Sea have already been notified that they could resume exploration in their respective licenses, Cusi added.
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