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...
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...
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...
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...
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...
Malacañang assured Filipinos that the government will take every action "within the bounds of the law" to cushion impacts caused by the ongoing crisis in the Middle East. "Ang gobyerno po, lahat ng puwedeng gawin within the bounds of law ay gagawin po (The government will do everything it can...
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)...
Declaring a state of national energy emergency should not be a cause of alarm as it does not place the country in a general emergency. President Marcos said this as he justified his move to declare an energy emergency. In his public address on Wednesday, March 25, a day after signing Executive...
There will be a sufficient supply of oil even after the 45-day worth of fuel supply in the country is used up, President Marcos said. Marcos made the assurance during a public address on Wednesday, March 25, a day after declaring a state of national energy emergency. He confidently stated that the...
