PH, Israel approve deal on energy exploration
Presidential Spokesperson Harry Roque. INQUIRER FILE PHOTO / JOAN BONDOC
JERUSALEM—The Philippines and Israel were expected to sign on Tuesday an agreement allowing an Israeli company to explore east of Palawan province for energy.
Presidential Spokesperson Harry Roque identified the Israeli company as Ratio Petroleum Ltd.
Roque said Energy Secretary Alfonso Cusi, who also joined President Duterte’s trip, had been working on the agreement for the past two days.
Business forum
“It’s another foreign investor helping us explore for energy in an effort to provide energy security,” Roque told Filipino reporters covering Mr. Duterte’s four-day official visit to Israel.
The agreement, as well as 13 others, will be signed at a business forum at King David Hotel on Tuesday afternoon.
Mr. Duterte will oversee the signing of the agreements.
Boycott
Roque expressed regret that some Israeli businessmen were reportedly boycotting the economic forum in protest against Mr. Duterte’s controversial remarks about the Holocaust in 2016.
“That’s truly regrettable because we think that the Philippines is one of the best investment destinations,” he said.
Roque said, however, that he was confident that Tuesday’s business forum with the President would be “standing room only.”
