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Duterte donor buys into South China Sea oil and gas company

Davao tycoon Dennis Uy invests in PXP Energy as Manila and Beijing hold exploration talks

Dennis Uy, left, is a Davao-based entrepreneur who helped bankroll President Rodrigo Duterte's election campaign. 

MANILA -- Dennis Uy, a Davao-based entrepreneur who helped bankroll Rodrigo Duterte's presidential campaign, is buying a 14.8% stake in PXP Energy, which holds oil and gas exploration rights in the South China Sea.

The deal comes as the Philippines and China are holding talks to jointly explore for resources in the disputed waterway.

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