While President Marcos believes the two-week ceasefire deal between the United States and Iran may not be enough to lower the prices of oil, the country will maximize it to increase its supply. "So, we will take full advantage of the two weeks to increase our supply as much as possible and to...
Executive Secretary Ralph Recto expressed hopes that the oil diplomacy the Philippines is pursuing amid the Iran-US conflict would not only replenish the country 's stocks, but build it up. Recto stated this during a meeting with business groups and executives of petroleum companies on...
Even if the war in the Middle East de-escalates, the Department of Energy (DOE) has been hit with a cold, hard truth for motorists: oil prices would remain elevated and may ease at a slower pace compared to their quick rise. Energy Secretary Sharon Garin emphasized during a media briefing on...
Malacañang has clarified that the government’s efforts to secure safe passage for Philippine vessels through the Strait of Hormuz are aimed at ensuring a steady fuel supply, not immediately lowering oil prices. Presidential Communications Office (PCO) Undersecretary Claire Castro said this after...
Country’s rice stockpiles expanded in March compared with a year earlier, driven by the recovery in government-held reserves and steady gains in household holdings, according to the latest data from the Philippine Statistics Agency (PSA). Total rice inventory stood at 1.88 million metric tons as...
The Philippines should engage in a high-level government-to-government negotiations to facilitate procurement efforts of private oil companies in order to ensure the country has enough supply of petroleum, diesel and crude oil. This was part of the recommendation drafted by Sen. Sherwin...
DAVAO CITY – Davao del Norte Gov. Edwin Jubahib clarified on Tuesday that he has had no direct communication with Petronas Malaysia regarding the supposed purchase of 44 million liters of crude oil and gasoline he earlier announced. On March 25, Jubahib disclosed plans to source fuel from...
Department of Foreign Affairs (DFA) Secretary Ma. Theresa Lazaro will seek talks with Iran 's top diplomat in Manila to ensure safe passage of tankers bringing oil bound for the Philippines as the country races against time to secure enough fuel before looming global shortage. Presidential...
Senator Sherwin Gatchalian said on Saturday, March 28, that the upper chamber’s Proactive Response and Oversight for Timely and Effective Crisis Strategy (PROTECT) Committee was preparing its interim report--including initial recommendations--to address the country’s fuel supply concerns amid...
BAGUIO CITY – The Police Regional Office-Cordillera reported Friday that 79 gas stations in the region have closed from lack of supply due to the conflict in the Middle East. Twenty-six are in Kalinga, 18 in Benguet, 15 in Mountain Province, 12 in Ifugao, six in Abra, and two in Baguio. Transport...
Senator Pia Cayetano on Friday, March 27 welcomed the successful drilling of the Camago-3 gas well, saying it a breakthrough for the Philippine’s energy security and local energy production. “This comes as a source of hope and opportunity, especially at a time when the conflict in West Asia...
President Marcos said that the Philippines ' hosting of the Association of Southeast Asian Nations (ASEAN) Summit in May will still push through despite the ongoing war in the Middle East. It will proceed as scheduled, Marcos said, but will only be a "barebones ASEAN Summit," stressing that it...
