Friday, March 2, 2012

South China Sea tensions escalating

The Philippines has invited foreign investors to explore 15 petroleum blocks in the disputed South China/Western Phlippine Sea. 38 companies have already lined up to place bids on contracts.
Needless to say, Beijing isn't happy.
Chinese Foreign Ministry spokesman Hong Lei said Tuesday that "it is illegal for any country, government or company, without the Chinese government's permission, to develop oil and natural gas in waters under Chinese jurisdiction," China Daily reports.

But the Philippines maintains that all of the 15 areas are within Philippine territory.
-United Press International

Two of the petroleum blocks to be exploited are near Reed Bank, where Chinese warships threatened to ram a Philippine survey vessel last year, setting off the current round of tension in the resource-rich region.