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Philippines Supreme Court Voids Major International Oil And Gas Deal

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A 2005 deal for oil and gas exploration in the South China Sea signed by the Philippines with companies from China and Vietnam is illegal, the Philippine Supreme Court ruled on Tuesday, saying the country’s constitution bars foreign firms from exploring Philippine natural resources. The ruling, 14 years after an appeal was lodged, could make talks between China and the Philippines on energy exploration in non-disputed parts of the South China Sea more complicated, according to Reuters. The long-running dispute in the South China Sea involves…

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