– President Duterte invited Rosneft Oil Co. to invest in the Philippines and assured them that their investments will be safe in the country because corruption is not tolerated in his government.Presidential spokesman Salvador Panelo revealed this after Rosneft Oil Co. Chief Executive Officer Igor Sechin paid a courtesy call on Duterte here Wednesday evening.
“We wish to add that the Chief Executive underscored that any agreement that will be executed or performed for such purpose shall undergo the proper domestic processes and comply with applicable laws and pertinent rules and regulations so as not to leave any room for corruption or irregularity,” he added.
Earlier, Sorreta said Russia was interested in exploring the West Philippine Sea for energy cooperation within Philippine laws.“They’re willing to do it within our laws. So… well, they’re not a claimant. If they come in, it’s really in full recognition of our sovereign rights and our right to explore or not to explore, to explore, to not to exploit,” he added.
Last month, the Philippines and China agreed to form their respective steering committees for the joint oil and gas exploration between the two countries in the disputed South China Sea.