Marcos Jr. Signals Potential Joint Energy Deal With China

President Ferdinand R. Marcos Jr. announced on August 14, 2026, that joint oil and gas exploration between the Philippines and China is a "distinct possibility." Speaking to foreign journalists in Manila, Marcos expressed optimism that current discussions are moving forward, noting that all involved parties want the cooperation to succeed.

Manila is seeking to improve energy security following recent price spikes and supply disruptions, specifically targeting potential deposits in the Reed Bank. While previous negotiations over sovereign rights in the South China Sea have repeatedly failed, Marcos emphasized that China remains one of the largest investors in the Philippines and denied that Manila is distancing itself from Beijing.

This diplomatic outreach follows a period of heightened maritime tension, including a July clash at Second Thomas Shoal and a water-cannon incident near Scarborough Shoal. Marcos clarified that no special arrangement exists requiring the Philippines to seek Beijing's permission for resupply missions in the South China Sea, asserting that the nation's regional rights remain intact.