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)...
With the country now under a state of national energy emergency, regulators have moved swiftly to contain the impact of surging global fuel prices, suspending the power spot market and rolling out emergency measures to stabilize electricity supply and prices. To reduce supply risks amid the...
The declaration of a state of national energy emergency, precipitated by the escalating conflict in the Middle East, underscores the Philippines’ vulnerability to external shocks. As a nation heavily dependent on imported fuel, geopolitical instability in a region central to global energy supply...
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...
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...
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...
An energy official on Tuesday, March 24, disclosed the possibility of supply disruptions in a worst-case scenario tied to escalating tensions in the Middle East. During the first organizational meeting of the Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy...
