Due to an urgent need to stabilize the country’s oil supply and curb escalating fuel prices, the Bureau of Customs (BOC) is bypassing standard procedures, directing all district collectors to fast-track processes related to the state’s emergency importations. This follows the emergency mandate...
The government is opening the Bicol Shelf Basin to private investors for oil and gas exploration, a move intended to bolster indigenous energy resources as the country seeks to reduce its reliance on volatile global fuel markets. The Department of Energy (DOE) on Wednesday, April 1, announced a...
The Marcos administration has secured commitments from five nations to bolster its fuel inventory, with the Department of Energy (DOE) preparing to import more than one million barrels of diesel this April to shield the economy from global market volatility. In a briefing late Monday, March 30,...
For Filipino consumers, it is a crippling puzzle: why are we hammered with over 100 percent cumulative oil price hikes while the rest of the world experiences only 40 percent to 60 percent increases for the same black gold? The answer is a toxic mix of heavy taxes, high import dependence, global...
The 142,000 barrels (approximately 22.578 million liters) of diesel fuel scheduled to be formally received by Energy Secretary Sharon Garin this weekend will be unloaded at the bulk storage facility of independent player Seaoil Philippines in Mabini, Batangas, a government source privy to the...
Fuel prices are expected to offer a slight reprieve to motorists next week following a period of aggressive “big time” hikes, as easing geopolitical tensions in the Middle East begin to cool global energy benchmarks. According to industry data based on the four-day trading Mean of Platts...
The House of Representatives needs to look into the outrageous prices of diesel in the Philippines, which according to a lawmaker is outpacing those other countries in Asia. Making this call for a House inquiry on Thursday, March 26 was Senior Citizens Party-list Rep. Rodolfo "Ompong" Ordanes, who...
The government received its initial shipment of imported diesel on Thursday, March 26, marking the start of a state-led effort to stabilize domestic fuel stocks and insulate the economy from global price volatility. The Department of Energy said the agency took delivery of approximately 22,578,000...
Senator Sherwin Gatchalian urged government agencies on Thursday, March 26, to act swiftly to secure additional petroleum supplies amid growing uncertainty in the global market. Gatchalian said this during the second organizational meeting, specifically calling on the Department of Energy (DOE)...
After 26 days since the Middle East conflict, Senator Sherwin Gatchalian said that it 's "concerning" that the government still has no unified, coordinated national contingency plan to address matters related to the country 's oil supply. In a press conference on Wednesday, March 25,...
Having ample fuel inventory is one thing, but paying for it is another. While energy officials tout procurement that stretches into May, the reality at the gas pump remains grim as another round of price hikes is expected next week. Based on the two-day trading average at Mean of Platts Singapore...
Senator Loren Legarda, on Tuesday, March 24, expressed frustration with the Department of Energy (DOE) over its reasoning in being unable to secure congressional approval for the use of supplemental funds by the Philippine National Oil Company (PNOC). During the first organizational meeting of the...
