China and the Philippines are nearing a deal for joint oil and gas exploration in disputed regions of the South China Sea as the two countries have accepted each other’s ‘red lines’ on protecting sovereignty claims, Philippine Foreign Secretary Alan Peter Cayetano told the South China Morning Post.
"If [the Chinese] agree, we can [start] exploration right away. It could take a week, it could take six months," Cayetano said.
The two countries had separated the issues of joint exploration and...
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