Among the areas in the South China Sea, Reed Bank is the most promising area for oil and gas exploration. Reed Bank/Recto Bank is said to contain most of the oil and natural gas in the South China Sea. For that, China is not keen on giving their claim to the area without participation inContinue reading “Regarding negotiations with CNOOC, PXP’s words are out: “to date there are no disclosable information in respect of such ongoing negotiations, including the existence of such ongoing negotiations itself””