China Pressures Exxon, Vietnam

Exercising its growing heft over the oil and gas industry, China is pressuring Exxon Mobil Corp. and Vietnam over a small project in the South China Sea.

A Chinese foreign ministry spokesman said Tuesday that China maintains its "sovereignty and jurisdiction" over the South China Sea. "The Chinese side has stated its position to relevant parties involved in the deal," he added. The statement came in response to questions about whether Beijing had threatened Exxon's interests in China as a result of the project.

Exxon, of Irving, Texas, declined to comment on China's stance. A spokesman said the company is ...