President Ferdinand Marcos Jr. disclosed that the Philippines is considering sourcing fuel from Russia, a non-traditional trading partner, as part of efforts to secure the country’s energy needs.
In an interview with Bloomberg, Marcos said the government is “still working on that,” noting that while China has long been a trading partner, Russia is now being explored as a possible supplier.
“Russia is not a traditional supplier of crude oil to the Philippines or any energy supply, but we are exploring that as well,” Marcos said.
“Basically, we are trying anything—everything—to secure supply because that’s the one thing we can do. The pricing is going to be a much more difficult challenge because everyone is a price taker when it comes to oil.”
The President emphasized that the Philippines is encouraged to talk with China and Russia on energy requirements, as current contracts with global partners are being honored.
He cited that the country sources fertilizer from Indonesia and China, refined fuel from Japan and South Korea, and oil from Malaysia.
In terms of the Philippines’ current fuel supply, the President said: “I think we’re doing better than a month in terms of fuel supply — maybe 45 days more or less, depends on diesel or gasoline.”
JET FUEL SHORTAGE
At the same time, Marcos warned of a potential grounding of flights if jet fuel shortages worsen amid the ongoing conflict in the Middle East.
While expressing hope that such a scenario can be avoided, he acknowledged it remains “a distinct possibility.”
“With this scarcity, limitations now on crude supply, the refining of jet fuel takes a longer time. And so we will have to depend on what is already readily available,” he explained.
The President added that several countries have informed Philippine airlines they cannot provide refueling services, forcing carriers to carry fuel for both outbound and return flights. “The long haul is going to be a much more serious problem,” Marcos said. (Betheena Unite)
