US Edition
Philippines Receives Russian Oil Shipment Amid National Energy Emergency
The Philippines imported over 700,000 barrels of Russian crude oil after the US eased sanctions, responding to fuel supply risks from the Middle East war, energy officials said.
- On Monday, the Sierra Leone-flagged tanker Sara Sky reached Limay, Bataan, delivering more than 700,000 barrels of Russian crude oil to Petron Corp—the Philippines' first shipment in five years.
- President Ferdinand Marcos Jr. declared a national energy emergency Wednesday, citing 'imminent danger' to supply stability after US-Israeli strikes disrupted the Strait of Hormuz, where 20 percent of the world's oil supply passes.
- Energy Secretary Sharon Garin activated a $332 million emergency fund on Thursday, calling it a 'proactive step,' while the nation has only about 45 days of fuel supplies remaining.
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The archipelago was hit hard by rising oil prices linked to the conflict in the Middle East and is looking for new suppliers of black gold.
After a five-year pause, the Philippines resumes purchases of Russian oil. This decision is due to the limitation of energy supplies from the Gulf countries due to military actions in the Middle East.
The Straits Times
Russian oil arrives as Philippines battles ‘energy emergency’
A ship carrying more than 700,000 barrels of Russian crude oil has arrived in the Philippines, a source with knowledge of the matter told AFP on March 26, days after the country declared a national energy emergency over the Middle East war.
The archipelago is among the countries most exposed to the blockade in the Strait of Hormuz. Manila looking for supplies for a million barrels per day in the regional area, but it is asking for exemptions in order to be able to resort also to producers under sanctions. The protests of haulers, commuters and consumers.
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