Philippines' Marcos sees progress in China energy exploration talks

The Manila Times

Philippines' Marcos sees progress in China energy exploration talks  President Ferdinand Marcos says that the Philippines is "making progress" on potential energy exploration with China despite ongoing tensions over their competing claims in the disputed South China Sea.  Since the outbreak of war in the Middle East, prices at the pump have soared in the import-dependent archipelago, driving inflation and depressing growth to its lowest levels in years. Marcos, who declared a national energy emergency in March, said Friday that the situation had given new urgency to ongoing talks.   AFP VIDEO  Check out our Streaming Channel: https://streaming.manilatimes.net/  Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe  Visit our website at https://www.manilatimes.net  Follow us: Facebook - https://tmt.ph/facebook Instagram - https://tmt.ph/instagram Twitter - https://tmt.ph/twitter DailyMotion - https://tmt.ph/dailymotion  Subscribe to our Digital Edition - https://tmt.ph/digital  Check out our Podcasts: Spotify - https://tmt.ph/spotify Apple Podcasts - https://tmt.ph/applepodcasts Amazon Music - https://tmt.ph/amazonmusic Deezer: https://tmt.ph/deezer Tune In: https://tmt.ph/tunein  #TheManilaTimes #WorldNews

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00:11Eleonors

00:11Thank you to the presidential community, that was with us.

00:24El Opus Norte First District Representative,

00:27District Representative J.J. Suarez,

00:304CUP President, Cliff Benz,

00:32in promoting good governance and transparency.

00:35As a matter of fact, yesterday, digital platforms.

00:39These challenges confront every institution.

00:42You'll be seated on the sofa, sir.

00:44So as we, right here, which one would you prefer, sir?

00:47Right.

00:47As we proceed to the much-awaited question and answer,

00:51you have been lined up for this afternoon.

00:53First up is Mr. Micah Flores of Reuters.

00:56Mr. President, thank you for the opportunity.

01:00Mr. President, on the...

01:01Sir, on the aspect of joint oil and gas exploration,

01:05I think PFE has...

01:06The discussion on the joint exploration for oil and gas

01:11has been going on for many, many years.

01:14But of course, it gained prominence.

01:17The discussion gained prominence in the recent past

01:21when we had our energy emergency.

01:24And we started to think,

01:26well, we have to find ways

01:28so that this,

01:30what should something like this happen again,

01:32where the supply of petroleum products is cut,

01:37the prices go up,

01:39and the effects of the task

01:41on the daily lives of our people

01:43and the economy of the country

01:46is deeply affected.

01:48We have to find new ways.

01:49Where we are now,

01:50I think we have moved forward.

01:53There were several issues from the beginning

01:56that we are slowly working through.

01:59And I can see a distinct possibility

02:03that there will be such joint exploration.

02:06It is just in terms of reference

02:09of what we are going to do.

02:11Like any joint venture,

02:14G2G,

02:15or if it is purely commercial,

02:17you have to define between yourselves,

02:19between the parties,

02:20in terms of reference.

02:21That's what we are doing now.

02:22And we are working through them

02:24and we are making progress.

02:26I think the sense that I got

02:31is that all parties involved

02:34want it to succeed.

02:36And that is always a very good sign.

02:38I could not give you

02:39a definite time table.

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