Warnings on ExxonMobil to Cancel Vietnam deal by China

According to Thomson Financial in Hong Kong, the Chinese had issued warnings to the giant ExxonMobil to have an exploration deal made in the seas that can be found off the coast of Vietnam as the project could actually threaten any other future mainland contracts. This was issued in a report from a Hong Kong newspaper last Sunday. Several diplomats from Washington have also contacted some senior figures belonging to the largest oil firm in the world in order to appeal for a protest deal. They also say that such could also be a breach of the sovereignty of China. This piece of news was reported by the Sunday Morning Post, although sources that are close to the US firm remained unnamed. There were some remarks that were cited that if it was just a small matter of a legal question, then it would not be such a dilemma. If so, Vietnam would then prevail in the international mediation. But the problem is that it is also political. The concerns China has regarding it would actually make the situation a lot more complicated that it already is for a company such as Exxon. This news certainly is something worth exploring because China is of course, a very big player in the oil industry.

Clearly Asserted

Such a dispute also involved an agreement (although a preliminary cooperation type) that was settled between the state oil firm by the name of PetronVietnam and also ExxonMobil. This also covered the exploration that can be found in the South China Sea as well as the southern and central parts of Vietnam, according to the report. These Chinese protests are also based on the historical claim Beijing has on the South China Sea's huge swathes. This, too, was according to the report made by the insiders of this claim. It was also only last year when China prompted a criticism on a joint deal that was about the infamous Spratly Island disputes that is found in the South China Sea. This area was cited to have a somewhat indisputable part of the territory ever since the existence of ancient times. This report also quoted Le Dung, spokesman of the Vietnamese Foreign Ministry, who said that it will be also be needed to have a clear assertion that the dealings of Hanoi when it comes to foreign oil partners will also fall within the legal rights as well as the sovereignty of Vietnam.

The report quoted Vietnamese Foreign Ministry spokesman Le Dung saying it needed to be 'clearly asserted' that Hanoi's dealings with foreign oil partners fell entirely within Vietnam's legal rights and sovereignty.