China ready to resume energy exploration talks with Marcos gov't; DOE to deal with existing contractors

25/06/2022 6:00:00 AM

China ready to resume energy exploration talks with Marcos gov't; DOE to deal with existing contractors

China ready to resume energy exploration talks with Marcos gov't; DOE to deal with existing contractors

China said it stands ready to continue negotiations on joint oil and gas projects in the South China Sea with the incoming Philippine administration after President Rodrigo Duterte's outgoing government said it has terminated the talks.

Updated June 25, 2022 10:46am China said it stands ready to continue negotiations on joint oil and gas projects in the South China Sea with the incoming Philippine administration after President Rodrigo Duterte's outgoing government said it has terminated the talks.with China.“In a regime like the Philippines that is not 100% self-suf fi cient because of crop failures brought about by typhoons… (P20 rice) is possible within his six-year term,” Roy S.President-elect Bongbong Marcos wants to increase the P10-billion Rice Competitiveness Enhancement Fund (RCEF), which is a key component of Republic Act (RA) No.

During the founding anniversary of the Department of Foreign Affairs on Thursday, outgoing Foreign Secretary Teodoro Locsin said Duterte ordered the termination of the Philippines' joint oil exploration discussions with China.“The President has spoken.We cannot just isolate ourselves and say bahala na diyan sa ano [whatever happens, happens],” National Intelligence Coordinating Agency (NICA) Director General-designate Ricardo de Leon, in a GMA News report, said.I carried out his instructions to the letter.“It is unrealistic though to attain this in 2023 or so.Oil and gas discussions are terminated completely.The official further pointed out that the AFP Modernization Program “should be sustained as equipment and facilities are needed to improve intelligence capabilities.Nothing is spending.“Maybe we can have a look at that and see maybe that now that we are in a situation where we very much have to boost production and we very much have to support the farmers.

Everything is over,” Locsin said, adding constitutional constraints have hampered the talks.would be on board for this.“From the very beginning, I always said that agriculture was going to be a very critical and foundational part of our economic transformation,” Mr.In a press conference in Beijing on June 24, Foreign Ministry Spokesperson Wang Wenbin cited a memorandum of understanding which the two governments signed on November 2018 to embark on negotiations "and made important progress within this framework." China's citing of the MOU signed by the two governments seems to imply that from Beijing's perspective the oil and gas negotiations between the two governments would continue despite the changing of Philippine leadership unless the bilateral agreement is revoked.” De Leon asserted that the validation on intelligence information in the government’s anti-drug war campaign should also be refined, GMA News reported.Incoming President Ferdinand Marcos Jr.Kempis said bringing down commodity prices, in general, depends on abundant supply.has not stated whether he would continue the negotiations.The official also noted that with better intelligence capabilities, drug lords can be arrested through case buildup and manhunt operations.Critics branded it the “rice import liberalization law,” since it basically opened the local market to cheaper, imported rice.

China "will strive to take early substantive steps so as to deliver tangible benefits to both countries and peoples," Wang said."Joint offshore oil and gas development is the right way for China and the Philippines to manage maritime differences and achieve win-win results without prejudicing either side’s maritime positions and claims," he added.And still farmers have to contend with the rising cost of inputs, especially those that are dependent on oil or are affected by speculation on the magnitude of price increases of fuel,” he added.But since the signing of the MOU in 2018, Philippine and Chinese negotiators have failed to resolve the issue of which country has sovereignty over the Recto Bank, internationally known as Reed Bank, where a joint exploration and development has been proposed.Neither side wanted to relinquish sovereignty rights over the contested area, hampering years of negotiations between Duterte's administration and the Chinese government, diplomatic sources have said.Recto Bank, which is within the country's exclusive economic zone as declared by an international tribunal in The Hague, Netherlands, is vital to Philippine national interest as it is the only replacement for Malampaya, which supplies 40 percent of the energy requirement of Luzon.“Further increasing productivity of rice harvests per hectare through higher-yield rice varieties and further mechanization to also lower costs would help bring down the price of rice and also help increase food security and reduce reliance on imports,” he said..

The Philippines wanted the proposed joint exploration and development to be framed as a service contract under its Department of Energy (DOE) with Manila having the sovereign rights over the Recto Bank and China essentially as a foreign investor, diplomats have told GMA News Online.China, which claims virtually the entire South China Sea, rejected that Philippine position, resulting in a long impasse in the negotiations.DOE: Ongoing talks with service contract holders The DOE on Saturday said it is continuing talks with existing service contract holders for exploration activities.“Given the higher prices of agricultural inputs in recent months largely brought about by the Russia-Ukraine conflict, such as oil, which increased transportation costs, fertilizer, and other inputs, it would be tough to bring down the price of rice."The DOE firmly stands for the assertion of Philippine sovereign rights through the promotion of exploration in the WPS [West Philippine Sea].Following the SJPCC’s [Security, Justice, and Peace Cabinet Cluster] suspension order and now with the termination of negotiations with China, the DOE, in coordination with the SJPCC for safety and security concerns, continues to pursue talks with existing service contract holders so they can proceed with their work programs," it said in a statement.

It added that the Inter-Governmental Joint Steering Committee (IGJSC), which serves as the official negotiating forum between China and the Philippines, only met once in October 2019.ING Bank N."The IGJSC convened only once on 28 October 2019 and no agreement was reached during said meeting," said the DOE, which has been designated as co-vice chair of the IGJSC."Despite this, the DOE doggedly promoted exploration in the West Philippine Sea (WPS) through the Philippine Conventional Energy Contracting Program, where it opened areas for application and nomination, reviewed bids, and issued licenses," it added."Furthermore, the Department lifted the moratorium on all gas exploration activities in the WPS in October 2020.Mapa added that the new administration will need to get creative in f inding ways to source inexpensive inputs and increase productivity and ef f iciency.For the DOE, this decision was an exercise in foresight given the current global energy crisis," the Energy department said.

"This encouraged our Service Contract (SC) holders to restart investments in WPS exploration.Specifically, SC No.“We need more production to attain sufficiency, and this is possible, but not instant… there is room for the possibility that Mr.72 and SC.No.75 contracted survey vessels to carry out exploration activities in Recto Bank," it added.“It would take a lot of effort to achieve this price goal, such as significantly increasing the yields on rice harvests through greater mechanization and higher-yielding varieties.

—KG, GMA News.

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Sana makarma Ng big time itong mga chengwa, napkabully at walang palabra de honor 'Their words are flattering and smooth but full of deadly deceit. Condemn and punish them , O God...' GOD help us..... buti nlng nkaalis nko jan Pinas God save the Philippines....

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