The group of Manuel V. Pangilinan is continuing talks with China National Offshore Oil Corp. (Cnooc) for a potential partnership at a massive but disputed oil and gas find in offshore Palawan. Nonetheless, both parties have yet to move forward with their talks, which Pangilinan described as still in the preliminary stage given the [...]
For businessman Manuel V. Pangilinan, the country comes first. The chairman of Philex Petroleum Corp. said he would abandon a proposed partnership with state-owned China National Offshore Oil Corp. (CNOOC) if the sovereignty or commercial issues involving the disputed Recto Bank are not resolved to the satisfaction of his group and the Philippine government.
Businessman Manuel V. Pangilinan plans to expand the consortium undertaking gas exploration at Recto Bank, which both the Philippines and China claim, to “internationalize” and “depoliticize” the concession area while boosting the financial and technological muscle for the project.
Businessman Manuel V. Pangilinan plans to expand the consortium undertaking gas exploration in the Recto Bank, which is part of the territory disputed by the Philippines and China, to “internationalize” and “de-politicize” the concession area while boosting the financial and technological muscle for the project.
