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Manila Bulletin devider Philippines devider National devider Joint oil, gas exploration with China, 'making progress' — Marcos

Joint oil, gas exploration with China, 'making progress' — Marcos

Marcos says no timeline yet for eyed joint venture

Published Aug 14, 2026 05:48 pm
President Ferdinand R. Marcos Jr. speaks before members of the Foreign Correspondents Association of the Philippines (FOCAP) and answers questions on various national and international issues during the group’s Presidential Luncheon at a hotel in Manila on August 14, 2026. (PPA Pool)
President Ferdinand R. Marcos Jr. speaks before members of the Foreign Correspondents Association of the Philippines (FOCAP) and answers questions on various national and international issues during the group’s Presidential Luncheon at a hotel in Manila on August 14, 2026. (PPA Pool)
President Marcos bared that the discussions on joint oil and gas exploration with China have "moved forward" and are "making progress."
Stressing the urgent need to diversify the country's oil sources amid the Middle East crisis, Marcos said the country needs to explore its options and take advantage of them.
When asked about the status of the discussions, Marcos said "we're making progress."
He further said they are working through the joint exploration talks, stressing that they have moved forward from the "several issues" that confronted them in the beginning.
"We have to find new ways. So that's why, as I said, this discussion has gained prominence. And where are we at now? I think we have moved forward," Marcos said during the Foreign Correspondents Association of the Philippines (FOCAP) Presidential Luncheon in Manila on Friday, Aug. 14.
"There were several issues from the beginning that we are slowly working through. And I can see this new possibility that there will be such joint exploration," he added.

No timeline yet

Marcos said there is no definite timeline yet for the joint exploration. However, he disclosed that "all parties involved want it to succeed."
"That depends on how the discussions go," he said when asked how likely it will happen under his term.
"I think the sense that I get is that all parties involved want it to succeed. And that's always a very good sign. I could not give you a definite time table," he added.
According to the President, they are now working on defining the terms of reference for the possible joint venture, saying that "like any joint venture, a government-to-government or if it is purely commercial, you have to define between yourself and between the parties in terms of reference."
"That's what we are doing now," he said. "And we're working through that, and we're making progress."
He further stressed that the discussions are being held with the view of actually making the joint venture possible.
"We wouldn't be making these discussions. We wouldn't be having these discussions if it was not with the view to actually, at the end, have such a joint exploration," he said.

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