⁍ Philippines President Rodrigo Duterte has lifted the moratorium on petroleum exploration in the South China Sea.

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⁍ The move paves the way for three projects to resume, including a possible joint venture with China.

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⁍ China claims almost the entire South China Sea, believed to be rich in energy and marine resources.

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– The Philippines has lifted a 2014 moratorium on petroleum exploration in the South China Sea, Reuters reports. According to the Wall Street Journal, the South China Sea is believed to be rich in energy and marine resources. China claims almost the entire South China Sea, which is believed to be rich in energy and marine resources. The Philippines, Brunei, Malaysia, Vietnam, and Taiwan also have claims. Last year, the Philippines said China offered Manila a controlling stake in a joint energy venture in the South China Sea if it sets aside an international award that went against China. The Philippines had imposed the moratorium while awaiting a ruling in a case by the Philippines Permanent Court of Arbitration in the Hague, which in 2016 invalidated China’s claim to sovereignty over most of the South China Sea. Energy Secretary Alfonso Cusi said Thursday the decision to lift the moratorium was arrived at “in good faith and with full regard of the ongoing negotiations between the Philippines and China, and Forum Ltd and the China National Offshore Corp’ (CNOOC). Cusi said the decision to lift the moratorium was arrived at ‘in good faith and with full regard of the ongoing negotiations between the Philippines and China.’ Forum, a unit of P’XP Energy Corp., operates Service Contract 72 covering gas exploration in the Bank of Reed, which is within the disputed territory. PXP has had talks with CNOOC about joint exploration and development there. Two other exploration projects have been given the go-signal, such as SC 59 operated by Philippine National Oil Company and SC 75, also by PXP.