ASEANEWS HEADLINE-WORLD OIL CRISIS | MANILA: PH has enough crude to last until June 30
Marcos made the remark on the sidelines of the opening of the new NAIAX off-ramp to Terminal 3 in Pasay yesterday.
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WATCH VIDEO: https://www.youtube.com/watch?v=8xLMmEzvGMQ
Marcos: PH has enough crude oil supply until June 30 | INQToday
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PRESIDENT Ferdinand Marcos Jr. on Friday said the country has enough crude oil to last until June 30.
The president’s assurance came after Malacañang confirmed that a shipment of more than 700,000 barrels of crude oil from Russia arrived recently.
The shipment was reportedly bound for the refinery of Petron Corp. in Bataan, where it will be processed into petroleum products such as diesel and gasoline.
The latest delivery signals renewed efforts by the government to import oil from Russia after a pause that began in 2022, following global market disruptions due to the Russia-Ukraine conflict.
The global price of oil has spiked after the United States and Israel launched air attacks against Iran at the close of February. Tehran has retaliated with air assaults that targeted Israel and other Gulf countries considered as US allies.
Iran also closed the Strait of Hormuz, the waterway through which a fifth of the world’s oil shipment passes.
Speaking at the sidelines of the opening of the Ninoy Aquino International Airport Expressway Phase II, Marcos said the Philippines has secured sufficient crude oil imports for the coming months to support domestic
“Because of that, we now have a supply of crude oil that is sufficient until June 30,” he said.
The president said that importing crude for local refining was more cost-efficient than bringing in already refined petroleum products.
“There is a difference in pricing when we import crude oil compared to importing already refined fuel like diesel. Importing refined fuel is more expensive,” he said.
Despite the arrival of oil from Russia, Marcos said the government will continue to look for additional suppliers to ensure long-term energy security.
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WATCH VIDEO: https://www.youtube.com/watch?v=i0uum_KwluQRussian oil arrives as Philippines battles ‘energy emergency’ | INQToday.A ship carrying more than 700,000 barrels of Russian crude oil arrives in the Philippines as the country faces a national energy emergency over the Middle East war.
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WATCH VIDEO: https://www.youtube.com/watch?v=ltm23zexfHk
How is the Philippines reacting to its energy emergency | BBC News
How is the Philippines reacting to its energy emergency | BBC News
On Wednesday, he said he has ordered the Department of Energy to search for more fuel sources, even though the country has stockpiled up to 45 days’ worth of crude.
“And my instruction to them is: do not stop. Continue looking for additional supply because we do not know how long this situation will last,” Marcos said.
“And when we say we have — now we are talking about around 45 days on average, more or less. But we do not know how long this will last, or how long the supply is going to be diminished from the Middle East through the Strait of Hormuz,” he said.
Marcos said the country was searching out to countries like Russia, Japan, China and South KoreaThe president also recently issued Executive Order 110, declaring a state of national emergency, which will be in effect for one year unless sooner lifted or extended, the president said.
He also signed a measure allowing the suspension of excise taxes on fuel, although its implementation will depend on global oil price trends and recommendations from the economic cluster.
Excise taxes may be suspended if global crude oil prices exceed $80 per barrel for at least one month.
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March 28, 2026
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