Padilla wants to resume talks on PH-China ‘Joint Oil-Gas Development’ in WPS

Padilla wants to resume talks on PH-China ‘Joint Oil-Gas Development’ in WPS

By Ernie Reyes

MANILA — To address the problems caused by skyrocketing prices of oil due to international developments such as the Russia-Ukraine conflict, the Philippines and China must resume bilateral talks for cooperation on oil-gas development in the West Philippine Sea.

Sen. Robinhood “Robin” C. Padilla stressed this in Senate Resolution No. 9, where he cited a Memorandum of Understanding on Cooperation on Oil and Gas Development between the Philippines and China on Nov. 20, 2018.

“Now therefore, be it resolved, as it is hereby resolved, urging President Ferdinand R. Marcos Jr. to resume the bilateral talks with the People’s Republic of China for the purposes of cooperation on oil and gas development in the West Philippine Sea,” Padilla said in his resolution.

“The Philippines requires a long-term strategy to resolve its oil dependency from foreign sources as the country is vulnerable to the negative effect of the skyrocketing oil prices dictated by the world market’s reaction to the Russia-Ukraine conflict,” he added.

Padilla pointed out the Philippines and China understand that the MOU – which former Foreign Affairs Secretary Teodoro Locsin Jr. recently announced had been terminated – does not pose any derogation to the Philippines’ assertion of its sovereign rights in the West Philippine Sea. (ai/mtvn)

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