Pangilinan is also the chair of Philex Petroleum Corp., which was in previous talks with state-run China National Offshore Oil Corp. to explore vast undersea energy resources in offshore Palawan.
“China should be more statesmanlike. We’re not a threat to them,” Pangilinan added.
PXP operates the SC 72 project in the Recto Bank area and the SC 75 project in Palawan, both of which were placed under force majeure by the DOE due to their locations in disputed waters.
On July 12, 2016, the Permanent Court of Arbitration in The Hague ruled that Recto Bank, location of SC 72, falls within the Philippines' exclusive economic zone.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
