Space Industry and Business News  
OIL AND GAS
Philippines, China eye joint exploration in disputed waters
by Staff Writers
Manila (AFP) Feb 16, 2018

China and the Philippines are discussing joint mineral exploration in the South China Sea despite an ongoing territorial conflict over the strategic waterway, Manila's foreign secretary said Friday.

The two countries, long embroiled in a dispute over their competing claims to the area, are hoping talks will open the door for them to jointly tap its resources, Secretary Alan Peter Cayetano said.

"We are pushing it aggressively because we need it," Cayetano told reporters, adding the countries would each form a working group to explore options for joint exploration.

"Then we will find a framework under our constitution that will allow us... joint exploration," he said.

"We both want it."

The South China Sea is a major trading route and fishing ground believed to have vast mineral resources, and is also claimed by Brunei, Malaysia, Taiwan and Vietnam.

Beijing asserts sovereignty over almost all of the area but in 2016 a UN-backed tribunal acting on a case brought by then-Philippine leader Benigno Aquino rejected its claims.

Current president Rodrigo Duterte, who took office in mid-2016, has since alarmed defence analysts and lawyers by down-playing the Philippine claim and largely setting aside the ruling so as to accomodate China -- which is promising military and economic aid.

But on Friday Cayetano said the Philippines would consult with "international legal experts" to make sure any accord would not hurt Philippine sovereign rights.

"Whatever we do, it will not only (be) in accordance with Philippine law but also the UNCLOS," referring to the UN Convention on the Law of the Sea.

He stressed the talks would only cover exploration, not actual development.

"Right now, we have not (been) discussing developments. We are discussing exploration first. What's the use of the debate whether or not the constitution allows a joint development if we don't know if there is anything we can harvest," he said.

As a model for the possible accord, Cayetano cited a tripartite deal between the oil companies of the Philippines, Vietnam and China for joint exploration of part of the South China Sea that was signed under the government of then-president Gloria Arroyo in 2005.

However, an opposition group challenged the tripartite deal's legality in the Supreme Court in 2008 and a decision is still pending.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
U.S. oil supply growth pressures oil prices
Washington (UPI) Feb 15, 2018
Crude oil prices declined Thursday as steady gains in U.S. crude oil production offset Saudi comments during the previous session on cuts. Oil producers from the Organization of Petroleum Exporting Countries stood firm to their commitment to balance an oversupplied market with coordinated production cuts during meetings this week in Riyadh. Saudi Arabian Energy Minister Khalid al-Falih fueled a rally Wednesday when he said producers were firmly committed to a balanced market. "In other w ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



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

OIL AND GAS
Recreating outer space in the lab

Super wood could replace steel

Scientists can now 3D print nanoscale metal structures

A new radiation detector made from graphene

OIL AND GAS
Northrop Grumman awarded $429M contract for Polar payloads

Improve European defence with new commercial space capabilities

Military innovation demands state-of-the-art satellite connectivity for maritime applications

L-3 to provide advanced optics, sensors to U.S. Air Force

OIL AND GAS
OIL AND GAS
Europe claims 100 million users for Galileo satnav system

Airbus selected by ESA for EGNOS V3 program

Pentagon probes fitness-app use after map shows sensitive sites

China sends twin BeiDou-3 navigation satellites into space

OIL AND GAS
Boeing, Embraer near deal on commercial air business: source

Chinese woman follows handbag into X-ray scanner

Boeing to upgrade Japanese AWACS aircraft

Rheinmetall, Sikorsky team up on heavy lift helicopter for Germany

OIL AND GAS
First 3-D imaging of excited quantum dots

Understanding heat behavior in electronic devices boosts performance

Artificial agent designs quantum experiments

2-D tin stanene without buckling: A possible topological insulator

OIL AND GAS
ESA Cluster mission unveils the magnetosphere

Landsat 8 marks five years in orbit

Micro to macro mapping - Observing past landscapes via remote-sensing

Chinese company hitches space ride on UK satellite

OIL AND GAS
Biotechnologists look to bacteria in extremely cold environments for 'green' detergents

An efficient and sustainable way to filter salt and metal ions from water

Germany eyes free transport to banish air pollution

Dutch shipping bosses in court over 'toxic' ship dumping









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news 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. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. 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. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.