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Philippines Denies Lifting Moratorium on Energy Exploration in South China Sea

 
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Denial of reports concerning energy exploration in disputed waters.

description: a group of diplomats engage in discussions at an international summit, with flags of various nations in the background. the atmosphere is tense, reflecting the complex nature of global politics.

(Bloomberg) -- A Philippine official denied Wednesday a report that the government has lifted a moratorium on energy exploration in the South China Sea. The denial comes amidst tensions in the region over conflicting claims to the resource-rich waters.

The Philippines should not abandon its claims in the South China Sea given its vast energy potential, the head of the nation's largest energy company stated. The area is currently a hotbed of territorial disputes between multiple countries, including China and Vietnam.

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Another budget, another multibillion-dollar deficit and another bid from the governor to get a local offshore oil-drilling project approved — highlighting the ongoing debate over energy exploration and environmental concerns.

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