Cusi pushes China oil deal

Energy Secretary Alfonso Cusi said he expects to complete the framework on the oil and gas cooperation with China this year before the expiration of a memorandum of understanding the two countries signed in December 2018.

The Philippines and China agreed to cooperate on oil and gas development during the Manila visit of Chinese President Xi Jinping last year.

“We’re working on that… That’s why before it expires, something positive, something concrete must be reached between the two countries on how we can tap the resources and use it for the benefit of our people,” Cusi said.

Cusi said the Philippines could benefit from the possible oil and gas cooperation “if we play our cards right.”

“[On] the West Philippine Sea, we are working in the spirit of cooperation and reaching out a common goal,” the energy chief said.

“I don’t like to speculate but our goal is that we want to finish it by November,” Cusi said when asked about the possibility of extending the MOU.