Marcos open to reviving stalled PH-China oil, gas talks
President Ferdinand Marcos Jr. said he is open to resuming discussions with China on a joint oil and gas project in a disputed area of the South China Sea, adding that the conflict in the Middle East may serve as an impetus for progress in the talks.
Marcos and Chinese President Xi Jinping agreed in 2023 to restart talks on joint oil and gas development, but these have stalled for years.
“That’s something we’ve been talking about for a great deal, but territorial disputes are getting in the way of that,” Marcos said in an exclusive interview with Bloomberg News on Tuesday.
“Maybe this [conflict in the Middle East] provides impetus for both sides to come to an agreement,” he added.
When asked whether there needs to be a “reset” in the Philippines’ relationship with China amid geopolitical tensions, Marcos said, “It’s certainly going to happen.”