AVN 60.29 Increased By ▲ 0.14 (0.23%)
BOP 10.16 Increased By ▲ 0.05 (0.49%)
CHCC 129.15 Decreased By ▼ -0.91 (-0.7%)
DCL 9.35 Decreased By ▼ -0.21 (-2.2%)
DGKC 105.67 Increased By ▲ 0.13 (0.12%)
EFERT 68.20 Increased By ▲ 0.50 (0.74%)
EPCL 30.52 Decreased By ▼ -0.13 (-0.42%)
FCCL 21.28 Decreased By ▼ -0.04 (-0.19%)
FFL 13.14 Decreased By ▼ -0.15 (-1.13%)
HASCOL 15.83 Increased By ▲ 1.46 (10.16%)
HBL 128.00 Increased By ▲ 2.65 (2.11%)
HUBC 86.74 Increased By ▲ 6.59 (8.22%)
HUMNL 9.37 Increased By ▲ 0.57 (6.48%)
JSCL 16.98 Decreased By ▼ -0.22 (-1.28%)
KAPCO 27.78 Increased By ▲ 2.38 (9.37%)
KEL 3.85 Increased By ▲ 0.09 (2.39%)
LOTCHEM 12.90 Decreased By ▼ -0.05 (-0.39%)
MLCF 35.62 Increased By ▲ 0.17 (0.48%)
OGDC 114.71 Increased By ▲ 2.06 (1.83%)
PAEL 35.15 Increased By ▲ 0.50 (1.44%)
PIBTL 12.15 Increased By ▲ 0.26 (2.19%)
PIOC 87.90 Increased By ▲ 0.79 (0.91%)
POWER 8.90 Decreased By ▼ -0.46 (-4.91%)
PPL 101.76 Increased By ▲ 2.26 (2.27%)
PSO 187.60 Increased By ▲ 4.90 (2.68%)
SNGP 57.10 Increased By ▲ 2.10 (3.82%)
STPL 11.82 Decreased By ▼ -0.08 (-0.67%)
TRG 49.02 Decreased By ▼ -1.28 (-2.54%)
UNITY 13.24 Decreased By ▼ -0.21 (-1.56%)
WTL 1.32 Decreased By ▼ -0.04 (-2.94%)
BR100 4,230 Increased By ▲ 84 (2.02%)
BR30 21,819 Increased By ▲ 626 (2.96%)
KSE100 40,559 Increased By ▲ 644 (1.61%)
KSE30 17,607 Increased By ▲ 345 (2%)
COVID-19 TOTAL DAILY
CASES 285,191 0
DEATHS 6,112 0
Sindh 124,127 Cases
Punjab 94,586 Cases
Balochistan 11,921 Cases
Islamabad 15,281 Cases
KP 34,755 Cases
World

China's Xi sees bigger role for joint energy exploration with Philippines

SHANGHAI: Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint developmen

30 Aug 2019

SHANGHAI: Chinese President Xi Jinping said China and the Philippines could take a "bigger step" in the joint development of oil and gas resources in the South China Sea if they can properly handle their dispute over sovereignty.

Xi made the remarks on Thursday in a meeting in Beijing with Philippine President Rodrigo Duterte, whose largely pro-China foreign policy and reluctance to challenge its maritime assertiveness has drawn widespread domestic criticism.

The visit comes amid a recent rise in tension on several fronts, with Chinese vessels challenging energy assets and the sea boundaries of Malaysia, Vietnam and the Philippines.

The United States has accused China of "coercive interference" and holding hostage $2.5 trillion of oil and gas in the region, while the European Union on Wednesday said it was worried about a deterioration in the maritime security environment, and suggested "mediation or arbitration" by third parties.

Britain, Germany and France on Thursday said they were concerned about the potential for "insecurity and instability" in the South China Sea.

In a televised news conference in Beijing on Friday, Duterte's spokesman Salvador Panelo said the president was steadfast in raising the Philippines' concerns about China's maritime conduct, including the secretive passage of its warships numerous times within Manila's 12-mile territorial sea.

"He doesn't want that repeated again," Panelo said.

The firebrand leader also conveyed to Xi his desire for China to comply with a 2016 arbitration ruling that invalidated its claim to sovereignty over most of the South China Sea, and made clear Manila's economic entitlements.

Duterte raised that in a way that "unequivocally, assertively but friendly" Panelo said, adding that Xi was not offended, but reiterated that China did not recognise the arbitral ruling and would not budge on that.

Experts say Duterte's unwillingness thus far to press the issue or build international support behind enforcing the ruling has enabled China to consolidate its maritime power and further expand its military assets on its artificial islands.

A report on the meeting by state news agency Xinhua made no mention of the ruling.

It said Xi urged the two sides to "set aside disputes, eliminate external interference, and concentrate on conducting cooperation, making pragmatic efforts and seeking development".

"As long as the two sides handle the South China Sea issue properly, the atmosphere of bilateral ties will be sound, the foundation of the relationship will be stable, and regional peace and stability will have an important guarantee," it quoted Xi as saying.

The two sides could take a "bigger step" in the joint development of offshore oil and gas, it quoted Xi as saying.

That could be extremely complex and sensitive, however, as both countries claim jurisdiction over the Reed Bank, the main site of the oil and gas reserves, despite the arbitration award declaring that Manila had sovereign rights to exploit them.

The Philippines is proposing a 60-40 sharing arrangement in its favour.

China's claims in the South China Sea, through which more than $3 trillion in ship-borne trade passes each year, are contested by Brunei, Malaysia, the Philippines, Taiwan and Vietnam.

Panelo also said Xi told Duterte that he would appreciate it more if the Philippines could "eliminate" its China-focused gaming operations, which employ tens of thousands of Chinese workers and target online users in mainland China, where gambling it is forbidden.

Copyright Reuters, 2019