Marcos eyes joint oil and gas exploration with China
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- Ferdinand Marcos Jr told foreign journalists there was a 'distinct possibility' of joint oil and gas exploration with China despite long-running South China Sea disputes, adding that 'all parties involved want it to succeed.'
- Marcos cited recent energy supply disruptions and price spikes as adding urgency to efforts to tap potential offshore resources and bolster the Philippines' energy security.
- The Philippines and China resumed high-level talks in March over the disputed South China Sea, exploring preliminary steps toward cooperation on oil and gas after years of stalled discussions.
- Previous joint exploration talks, including at the Reed Bank, have repeatedly broken down over disagreements about which country held sovereign rights.
- Marcos said there was no special arrangement with Beijing requiring the Philippines to seek permission for resupply missions in the South China Sea, and that Manila's position had not been weakened.
- Beijing claims sovereignty over nearly the entire South China Sea — through which more than $3 trillion in trade passes annually — despite a 2016 arbitration ruling that invalidated those claims in a case brought by Manila.
Why it matters: The Philippines is pursuing energy security through a partnership with a country whose sweeping sovereignty claims it has legally contested. After years of collapsed talks at Reed Bank, a breakthrough would give Manila access to offshore resources while keeping the more confrontational aspects of the South China Sea dispute on a separate track.
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