Philippines, China Edge Closer to a South China Sea Energy Deal
- Oil, gas exploration framework among deals witnessed by Xi
- China has blocked energy resource extraction in disputed sea
Rodrigo Duterte and Xi Jinping in Manila on Nov. 20, 2018.
Photographer: Ted Aljibe/AFP/Getty Images
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The Philippines and China signed a framework agreement on joint oil and gas exploration in the South China Sea, setting the stage for a deal long sought by Beijing and easing a flash point between the two nations.
The signing of the cooperation pact on oil and gas development was witnessed by presidents Rodrigo Duterte of the Philippines and China’s Xi Jinping, according to televised coverage of the Chinese leader’s visit to Manila. The two nations also forged 28 other agreements on infrastructure, banking and finance, trade and security, according to the televised event.