THE DEPARTMENT of Energy said it is in official talks with China on possible areas of collaboration within the energy industry, after Chinese companies indicated their interest in investing in renewable energy projects.
In November, the RE industry was opened up to full foreign ownership following a legal opinion issued by the Department of Justice, with Mr. Lotilla releasing a circular amending the implementing rules and regulations of the Renewable Energy Act of 2008. Mr. Lotilla said that the Energy department is also keeping an eye on any possible breakthroughs regarding exploration activity in the West Philippine Sea.
Earlier this month, PXP Energy Corp. said it is time to resume discussions on the exploration in the West Philippine Sea and hopes that President Ferdinand R. Marcos, Jr., who is scheduled to visit China in January, could negotiate a suitable agreement.
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