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...
Some senators on Wednesday, March 25 finally heaved a sigh of relief after President Ferdinand “Bongbong” Marcos Jr. finally declared a state of national energy emergency for the Philippines in light of the ongoing oil crisis. “I welcome the President’s declaration of a state of national...
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 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,...
Philippine Airlines (PAL) said it has shored up its jet fuel reserves for the “foreseeable future,” seeking to calm markets after President Marcos warned that the regional energy crisis could potentially ground the country’s carriers. In a statement on Wednesday, March 25, the flag carrier,...
President Marcos and Japanese Prime Minister Takaichi Sanae agreed to work closely for the early de-escalation of tensions in the Middle East, with particular focus on ensuring safe navigation in the Strait of Hormuz. The agreement was reached during a 20-minute telephone meeting on March 24,...
