E-Paper
Sign In
Delivery of Russian crude oil not enough to save dwindling oil reserves in Philippines
The Philippines consumes approximately 473,000 to 486,600 barrels of petroleum products per day, making 842,000 barrels recently delivered sufficient for only 1.7 days, pundits say
- PUBLISHED: Sat 28 Mar 2026, 7:00 AM
[Editor's Note: Follow the Khaleej Times live blog amid the US-Israel-Iran war for the latest regional
How long will the privately bought 842,000 barrels of Russian crude oil last to meet the needs of the Philippines? Not even two days, pundits say, underscoring the urgent need for the government to secure more sources of oil after President Ferdinand Marcos Jr placed the country under a state of national energy emergency in response to the ongoing conflict in the Middle East.
Recommended For You
The Philippines consumes approximately 473,000 to 486,600 barrels of petroleum products per day (BPD), making 842,000 barrels sufficient for only 1.7 days. Political writer Gerry Cacanindin noted the newly arrived supply could not be described as a stockpile, “as the Marcos government seems to make it appear, but only a stopgap.”
On Friday, Department of Energy (DoE) secretary Sharon Garin confirmed the arrival of an additional 142,000 barrels of oil, sourced by the Marcos administration through its Emergency Energy Security Program. The Philippine government earlier confirmed the arrival of 700,000 barrels of privately bought Russian crude oil to help replenish the country’s dwindling fuel supply due to the constriction of supply with Iran’s closure of the Strait of Hormuz.
Stay up to date with the latest news. Follow KT on WhatsApp channels.
Philippine ambassador to Washington Jose Manuel Romualdez also said the government secured waivers from the US to obtain fuel supplies from US-sanctioned countries such as Iran and Venezuela, particularly oil that has been stranded at sea, as well as Russia.
“We will continue to source those supplies … In our analysis, we do not have a supply problem with petroleum products,” Marcos said Wednesday, assuring the country still has a 45-day buffer stock of fuel in its inventory.
But Marcos’ statement came as the country’s flag carrier, Philippine Airlines (PAL), suspended five of its routes – two international and three domestic – as fuel supply worries continue to batter the aviation industry.
Asia’s oldest airline also announced its Cebu-Guam flights are suspended starting April 16, while its Cebu-Ho Chi Minh service will stop beginning April 19. Domestically, PAL will indefinitely cut its Clark-Siargao from May 4, Cebu-Ozamiz from May 5, and Cebu-Calbayog.
The Philippines is the first country in the world to declare a “State of National Energy Emergency” as the majority of its traditional suppliers, such as China, South Korea and Japan, announced the suspension of refined petroleum exportation because of the Middle East war.
“This is why the government should manage expectations; 800,000+ barrels sounds like a lot, but it won’t even cover two days of consumption,” Cacanindin underscored.