Among all its neighboring countries, why is the Philippines only resuming oil and gas exploration ventures with China in the West Philippine Sea? | BPinlacINQ
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In January, the High Court declared void and unconstitutional the 2005 Tripartite Agreement for Joint Marine Seismic Undertaking that allowed wholly owned foreign oil firms from China and Vietnam to conduct a joint exploration with the Philippines for oil resources in the West Philippine Sea. Under Section 2, Article 12 of the 1987 Constitution, the State may directly undertake activities concerning exploration, development, and utilization of natural resources like co-production, joint venture, or production-sharing deals with Filipino citizens, corporations, or associations where Filipinos own at least 60 percent of the capital.
He then broached the idea of involving the Senate in discussions on the possible revival of joint oil and gas exploration with China. Senate Minority Leader Aquilino Pimentel III said Tolentino’s idea is “to be endorsed” if it means hearing the issue “so that the sun can shine on all corners of the agreement or proposed agreement.”Your subscription has been successful.
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