PH hopes to finalize oil and gas exploration deal with China within the next months

The Philippines is hoping that “within the next couple of months,” its joint deal with China on oil and gas exploration will be completed, says Philippine Ambassador to China Chito Sta. Romana.

He told the reporters in China that there are slim chances for the two countries to finish the agreement during Duterte’s visit in China as the deal has to undergo thorough groundwork.

“I think the best estimate I have gotten is from (Foreign Affairs) Secretary (Alan Peter) Cayetano that we are trying to see if we can achieve an agreement, hopefully, within the next couple of months, but, as always, in negotiations, we can never predict. If it’s necessary to take a longer time. We will take our time as long as we meet our objectives,” Sta. Romana said.

He also stressed that the agreement should be approved by both countries and that it has to stand any “public scrutiny”.

“The Philippines is aware of certain parameters. It has be within our constitutional requirements, and legal requirements. The Chinese have their own parameters but there is political will from both sides to move forward,” he said.
“It has to stand public scrutiny. It has to be acceptable to the Filipino people,” Sta. Romana added, underlining the basic point the Philippines is trying to achieve–to solve the crying need for energy and to let the Filipino people finally explore and develop the resources that belong to them and avoid making it a source of conflict.

DAILY NEWS ROUND UP FOR 04/ 9 /18