Philippines "unilaterally" opts to resume S. China Sea oil exploration

The Philippine government said Friday that its decision to resume oil exploration in the disputed South China Sea was a “unilateral” move taken without consultation with China.The Energy Department said Thursday that President Rodrigo Duterte had approved the lifting of a six-year moratorium on oil exploration in the contested waters off Palawan Island in the country’s west.Energy Secretary Alfonsi Cusi has cited the impending depletion of a natural gas reserve off Palawan for the move, adding that it is imperative to resume exploration within the Philippines’ exclusive economic zone.The morat…

Read More

HEDGE accordingly