To cushion Filipinos from surging pump prices and fuel shortages caused by ongoing Middle East tensions, the Department of Budget and Management (DBM) approved the release of ₱20 billion to the Department of Energy (DOE). “The move comes amid escalating geopolitical tensions in the Middle East...
President Marcos said there is a possibility of grounding flights due to the lack of jet fuel amid the ongoing impacts of the conflict in the Middle East. Although Marcos hopes that it will not happen, it would be a possibility, he said in an interview with Bloomberg. "We are hoping not, but that...
The Armed Forces of the Philippines (AFP) said Wednesday, March 25, that it placed troops on standby for possible deployment to protect key facilities and assist in logistics after President Marcos Jr. declared a State of National Energy Emergency. While the military holds no seat on the primary...
House "Young Guns" bloc member Davao Oriental 2nd district Rep. Cheeno Miguel Almario is asking authorities to look into the possibility of temporarily reducing the operating hours of malls as an energy-saving measure. Almario filed last March 17 House Resolution (HR) No. 893, which urged the...
Rising bond yields, fueled by global uncertainty and the ongoing conflict in the Middle East, are making it increasingly difficult for the national government (NG) to raise funds, forcing it to reject or scale back debt offers in recent weeks since the war began. During the treasury bonds (T-bonds)...
President Marcos said war is “never in the national interest” of the Philippines as he expressed hope for the swift end of the ongoing conflict in the Middle East. “It certainly was unexpected, and we never want war,” Marcos said when asked in an interview with Bloomberg if he supports the...
The Philippines can quarantine a virus, but it cannot quarantine the global oil market. This is the warning from one of the architects of the country’s pandemic recovery, who argues that the current fuel shock could be a more ruthless economic adversary than Covid-19. While the health crisis was...
President Marcos said changes in relations with China are already taking place as he signaled openness to joint gas development with Beijing despite ongoing territorial disputes. “I think it’s certainly going to happen… there’s going to be a very, very serious restructuring,” Marcos said...
President Marcos said ferry and bus operators have committed not to increase fares this Holy Week despite rising fuel prices. In an interview with Bloomberg aired on Tuesday, March 24, the President said the commitment is part of the government’s efforts to ease the burden on commuters and the...
The Philippines has not yet restarted its talks on possible joint oil exploration with China, although it may be "forthcoming," especially amid the looming oil crisis brought by the Middle East conflict. Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro made the pronouncement on...
Senator Imee Marcos raised concerns over the government’s preparedness, warning that the country may be leaning too heavily on short-term relief instead of pursuing a clear energy strategy. "Having taken a month to realize that war had broken out and nothing was 'normal ' after all,...
Muntinlupa Mayor Ruffy Biazon advised the public to stay calm after President Ferdinand Marcos Jr. declared a state of national energy emergency in the country. Executive Order No. 110 states that “the declaration of a state of national energy emergency will enable the government, through the...
