Xi's Armada Is Winning the Battle for Energy in South China Sea [Financial Post (Toronto, Ontario, Canada)]
Exxon Mobil Corporation (XOM)
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries. An estimated 150 billion cubic meters of the fuel, enough to power a city the size of Hanoi for decades, was discovered 50 miles (80 kilometers) from Vietnam's central coast in 2011. If all had gone to plan, the “Blue Whale” project led by Exxon Mobil Corp. would have gone online late last year. Article content Article content On the other side of the South China Sea, the Philippines has long eyed the energy riches off its western coast as a way to reduce its growing reliance on imported gas and oil, with successive governments drafting projects to tap into those resources and bolster the nation's energy security. None of it has happened — and an armada of Chinese fishing boats, coast guard cutters and a giant vessel dubbed the “M
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