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Philippines Scrambles to Find Undersea Energy as Import Prices Hit Consumers

The resource-rich Philippines is doubling up development of its own fuel sources as world oil price hikes hit the largely impoverished population. On October 17, Philippine President Rodrigo Duterte signed a service contract with the Israeli energy exploration firm Ratio Petroleum to scout for fuel under the South China Sea, the Department of Energy in Manila said. It is the first Philippine-foreign energy contract signed since 2013. The Philippines is talking separately with China,...

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