Philippines' oil still in troubled waters after South China Sea ruling

By Enrico Dela Cruz MANILA (Reuters) - The Philippines, eager to resume development of vital oil and gas reserves off its coast, will likely need to reach an accord with a Chinese government infuriated by last week's ruling that granted Manila a big victory in the South China Sea. The Philippines relies overwhelmingly on imports to fuel its fast-growing economy. Beijing has refused to recognise the ruling by the Permanent Court of Arbitration that granted the Philippines sovereign rights to acce