. Space Industry and Business News .




.
ENERGY TECH
China disputes Philippine's oil blocks
by Staff Writers
Manila, Philippines (UPI) Mar 1, 2012


The Philippines' invitation to foreign investors to explore 15 petroleum blocks in the disputed South China Sea has sparked anger from China.

Chinese Foreign Ministry spokesman Hong Lei said Tuesday that "it is illegal for any country, government or company, without the Chinese government's permission, to develop oil and natural gas in waters under Chinese jurisdiction," China Daily reports.

But the Philippines maintains that all of the 15 areas are within Philippine territory.

Philippines Defense Secretary Voltaire Gazmin on Thursday dismissed China's denouncement, saying: "Now, if they get angry, we cannot control their emotions. But then, we still stick to the fact that these [areas] are within our territory. It is ours. Like our president said, 'What is ours is ours.' That's very definite," the Philippine Daily Inquirer reported.

Gazmin said that foreign oil companies that accept the Philippines' invitation to invest in the oil blocks could be assured their operations would be secure, stressing that "investors would not come here if they weren't assured of their safety. We are doing all that we can in order to protect what's ours."

So far, 38 companies have signed up as possible bidders for the oil and gas sites, including Shell Philippines Exploration B.V., Total E&P Activities Petrolieres, Esso Exploration International Ltd. and Spain's Repsol Exploracion S.A.

An editorial published Thursday in China Daily newspaper said the Philippines has chosen "to be a troublemaker."

By inviting major foreign oil companies to invest in exploration of 15 offshore oil and gas areas in the South China Sea, the editorial stated, "the Philippines should assume direct responsibility for the fresh flare-up of the South China Sea issue."

"The Philippines should bear in mind that a number of the 15 areas are under Chinese maritime jurisdiction and it does not have the right to invite foreign enterprises to bid for service contracts there," the editorial said.

China has indisputable sovereignty over the Nansha Islands and adjacent waters and it is unlawful for any country or company to explore oil and gas in areas under Chinese jurisdiction without the permission of the Chinese government," it continued.

Two of the 15 areas -- designated as areas 3 and 4 -- are near the offshore area called Reed Bank, a point of contention last year when two Chinese ships were reported as intimidating a survey vessel.

The South China Sea has proven oil reserves of around 7.7 billion barrels, with estimates reaching to 28 billion barrels.

Related Links
Powering The World in the 21st Century at Energy-Daily.com




.
.
Get Our Free Newsletters Via Email
...
Buy Advertising Editorial Enquiries






.

. Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle



ENERGY TECH
Oil prices soar on Iran tensions, upbeat US, China data
New York (AFP) March 1, 2012
Oil prices surged higher Thursday amid tensions over major crude exporter Iran and in the wake of positive Chinese and US economic data. New York's main contract, light sweet crude for delivery in April, closed at $108.84 a barrel, up $1.77 from Wednesday's closing level. In London, Brent North Sea crude for April jumped $3.54 to settle at $126.20. "Crude prices are extending gains.. ... read more


ENERGY TECH
$35 computer goes on sale in Britain

Exotic material boosts electromagnetism safely

The laws of attraction: Making magnetic yeast

VTT scientists revise the 60-year-old definition of surface tension on solids

ENERGY TECH
Lockheed Martin Team Completes On-Orbit Testing Of First AEHF Satellite

Raytheon's US Air Force Satellite Terminal Achieves Two Critical Milestones

Northrop Grumman Airborne Network Demonstrates Tactical Potential at Army Integration Exercise

Lockheed Martin Delivers Second AEHF Satellite To U.S. Air Force For Upcoming Launch

ENERGY TECH
The initial Ariane 5 for launch in 2012 completes its final assembly

Arianespace maintains its open dialog with the space insurance sector

SwRI and XCOR agree to pioneering research test flight missions

Rocket launches from Poker Flat Research Range

ENERGY TECH
LightSquared Undertakes Search for New CEO

Galileo on the ground reaches some of Earth's loneliest places

China launches 11th satellite for independent navigation system

Chinese province school buses to have GPS

ENERGY TECH
Hong Kong Airlines may cancel A380 order: report

ISRO bets on satellite navigation for aviation services

Boeing to sell ten 777s to China Southern

Aircraft of the future could capture and re-use some of their own

ENERGY TECH
Solving a Spintronic Mystery

Transforming computers of the future with optical interconnects

Penn Researchers Build First Physical "Metatronic" Circuit

Single-atom transistor is end of Moore's Law; may be beginning of quantum computing

ENERGY TECH
Europe's Global Monitoring for Environment and Security Program Examined

Sciamachy - 10 years monitoring climate in space

GPM Microwave Imager Instrument for NASA and JAXA Mission Arrives at Goddard

China's advanced remote sensing satellite operating soundly

ENERGY TECH
China says most cities fail to meet new air standard

Mobile industry eyes savings by recycling

Ship captain pleads guilty over N. Zealand oil spill

China orders more accurate air-quality measure


Memory Foam Mattress Review

Newsletters :: SpaceDaily Express :: SpaceWar Express :: TerraDaily Express :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

.

The content herein, unless otherwise known to be public domain, are Copyright 1995-2012 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement