China, Philippines: 'Bigger Step' Possible Offshore

Friday, August 30, 2019

Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can "properly" handle their dispute over sovereignty.

Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, who has positioned himself as a friend of Beijing but has come under growing pressure at home to push back against China's maritime assertiveness.

The visit comes amid a recent rise in tension on multiple fronts, with Chinese vessels challenging energy assets and sea boundaries of Malaysia, Vietnam and the Philippines, prompting the United States to accuse China of "coercive interference" and holding hostage $2.5 trillion of oil and gas in the region.

Duterte's spokesman said earlier this month that he would meet Xi to discuss a 2016 arbitration ruling that invalidated China's claim to sovereignty over most of the South China Sea.

A report on Thursday's meeting by China's state news agency Xinhua made no mention of the ruling, which China has vociferously disputed.

It said Xi urged the two sides to "set aside disputes, eliminate external interference, and concentrate on conducting cooperation, making pragmatic efforts and seeking development".

"As long as the two sides handle the South China Sea issue properly, the atmosphere of bilateral ties will be sound, the foundation of the relationship will be stable, and regional peace and stability will have an important guarantee," it quoted Xi as saying.

The two sides could take a "bigger step" in the joint development of offshore oil and gas, it quoted Xi as saying.

Duterte "expressed his view that the path to peacefully resolving the South China Sea disputes is through cooperation, rather than confrontation", according to Xinhua.

He also pledged to speed up joint maritime oil and gas exploration with China.

On Thursday, China and the Philippines announced the establishment of an "intergovernmental joint steering committee and a working group between relevant enterprises" on oil and gas cooperation, Xinhua reported.

China's claims in the South China Sea, through which about $5 trillion in ship-borne trade passes each year, are contested by Brunei, Malaysia, the Philippines, Taiwan and Vietnam.


(Reporting by John Ruwitch; Editing by Michael Perry)

Categories: Energy Asia

Related Stories

Woodside to Shed Some Trinidad and Tobago Assets for $206M

Marine Masters Secures Wellhead Platforms Installation Job Off India

Tokyo Gas Enters LNG Market in Philippines

ADNOC Secures LNG Supply Deal with India's BPCL

Shell Shuts Down Oil Processing Unit in Singapore Due to Suspected Leak

INEOS Picks Up CNOOC’s US Assets in $2B Deal

RINA to Conduct Pre-FEED Study for Petronas’ CCS Project in Malaysia

TotalEnergies Wraps Up Acquisition of SapuraOMV’s Gas Assets

Sembcorp Signs 10-Year LNG Supply Contract with Chevron

CNOOC Brings Bohai Sea Oil Field On Stream

Current News

Fire at Petronas Gas Pipeline in Malaysia Sends 63 to Hospital

Japan’s ENEOS Xplora, PVEP Ink Deal for Vietnam Offshore Block

CNOOC Makes Major Oil and Gas Discovery in South China Sea

Valeura’s Assets in Gulf of Thailand Remain Operational After Earthquake

Op-Ed: Kazakhstan’s National O&G Firm Positioning Itself as Global Energy Player

Woodside to Shed Some Trinidad and Tobago Assets for $206M

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

‘Ultra-Mega’ Offshore Deal for L&T at QatarEnergy LNG’s North Field Gas Scheme

Keel Laying for Wind Flyer Trimaran Crew Boat

MODEC Gets Shell’s Gato do Mato FPSO Ops and Maintenance Job

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com