The Philippines received its first shipment of Russian crude oil in five years, with a tanker carrying 100,000 tonnes of ESPO blend arriving at Petron’s refinery in Limay, Bataan, on March 24.
The import comes as the country seeks alternative fuel sources amid supply risks from the Middle East, particularly tensions involving Iran and the Strait of Hormuz.
President Ferdinand Marcos Jr. confirmed the government is exploring all options, including Russia and China, to secure energy supplies despite price challenges.
Energy Secretary Sharon Garin and government reports note ongoing talks with suppliers in Thailand, Japan, and Singapore.
To address potential shortages and rising prices, Marcos declared a one-year national energy emergency to fast-track fuel procurement and ensure the stable availability of essential goods.
Source: PhilNews24 | March 26, 2026
PHILIPPINES GETS FIRST RUSSIAN OIL SHIPMENT IN FIVE YEARS
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