Philippine President Ferdinand Marcos Jnr has stated that Manila must find a way to explore oil and gas reserves in the South China Sea, even if an agreement with Beijing on the matter is not reached.
“That’s a big thing for us, that is why we need to fight and take advantage if there really is oil there,” Marcos said.
He also hinted that there might be "other ways" to reach an agreement with Beijing not necessarily on the government-to-government level, without elaborating.
Last August, the Philippines' foreign secretary stated that Manila is open to new rounds of talks with Beijing on joint oil and gas exploration, pointing out that China must comply with Philippine law.
The Philippines are highly reliant on imported hydrocarbons, making the country vulnerable to market fluctuations. The current energy price surge pushed up inflation to a near 14-year high. The economic downfall is partly caused by anti-Russian sanctions imposed by Western governments.
China's stance on the disputed territories differs from that of the Philippines. According to Beijing`s historians, the water zone of the South China Sea was explored by Chinese seamen 2,000 years ago. In 1939, some of the islands in this sea were occupied by Japan. In 1947 – two years after Japan was defeated – Beijing published a map that declared 90% of the sea as waters belonging to China.