Twelve new patrol boats from Japan

[CBM]

These are for the Coast Guard not the Navy, but very welcome:

http://my.news.yahoo.com/philippines...HmtyhwyjGS#_=_

[lastlid]

You kind of get the feeling that they could do with them now, not in 2014.

[lastlid]

Philippines to Offer Offshore Oil Blocks in China-Claimed Areas

"The Philippines will accept bids from oil and gas companies today to explore offshore areas claimed by China, risking renewed clashes as nations spurn joint development of energy resources in disputed waters.

The Philippines, which along with Vietnam rejects China’s so-called nine-dash map of the South China Sea as a basis for joint development, insists that the three blocks on offer fall under its jurisdiction. About 40 companies are prequalified to bid, including units of Total SA (FP), Exxon Mobil Corp. (XOM) (XOM) and Royal Dutch Shell Plc, according to Energy Undersecretary Jose Layug.

“Enhanced energy security is what’s important for us,” Ricky Carandang, a spokesman for Philippine President Benigno Aquino, said yesterday. “It’s important for the economy that we develop more indigenous sources of fuel and power.”

The Philippines, a U.S. ally, this month denounced “intimidation” from China and warned of possible “physical hostilities” at a regional security meeting that included Secretary of State Hillary Clinton. China last year chased away a survey ship doing work for the Philippines and has said companies need its permission to explore in areas up for bid."

http://www.businessweek.com/news/201...-claimed-areas

"The blocks being auctioned are off Palawan province, near Malampaya and Sampaguita where natural gas was discovered."

http://www.bbc.co.uk/news/business-19058699

[lastlid]

None of the major oil companies bid. Only local Philippine companies.

Oil Majors Avoid Philippine Bids For China-Claimed Sea Blocks

"The Philippines received bids from local companies to explore offshore areas claimed by China in a tender that the world’s biggest oil and gas firms avoided as the nations feud over territory.
Makati City-based Helios Petroleum and Gas Corp. submitted offers for two of the blocks, while a group including Philex Petroleum Corp. (PXP) bid on one, according to Energy Undersecretary Jose Layug. Two of the three areas fall within China’s so-called nine-dash map of the South China Sea."
"
“We normally receive bids from medium-size companies, not from the big boys,” Layug told reporters in Manila today. “We’re very happy with the turnout.”
The Philippines, a U.S. ally, this month denounced “intimidation” from China and warned of possible “physical hostilities” at a regional security meeting that included Secretary of State Hillary Clinton. Units of Total SA (FP), Exxon Mobil Corp. (XOM) and Royal Dutch Shell Plc, which were among about 40 companies prequalified for the auction, didn’t enter bids.
“No one can afford to upset the Chinese and be marginalized in the Chinese market,” Gordon Kwan, the Hong Kong-based head of regional energy research at Mirae Asset Securities Ltd., said by phone. “The Philippines is simply not a must-have market for major oil companies,” he said, adding that only businesses “with no chance in China” would bid."

http://www.bloomberg.com/news/2012-0...med-areas.html