"China opposes unilateral oil and gas development in disputed waters of the South China Sea. We hope that concerned countries respect China's position and rights, and respect efforts made through bilateral talks to resolve disputes."
Singapore, home to the world's second-busiest container port, joined the Philippines on Monday in expressing concern at the prospect of Chinese police boarding ships. The Philippines on Saturday condemned the Chinese plan as illegal. Estimates for proven and undiscovered oil reserves in the South China Sea range as high as 213 billion barrels of oil, the U.S. Energy Information Administration said in a 2008 report. That would surpass the proven oil reserves of every country except Saudi Arabia and Venezuela, according to the BP Statistical Review.
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