Philippines says it is working with US to obtain oil from US-sanctioned nations

Philippine President Ferdinand Marcos Jnr said in a televised address on Wednesday that the country’s fuel ‌supply would not run dry after 45 days as his government has been looking for other sources.

Photo: EPA The Philippines is working with Washington to secure waivers and exemptions that will allow it to obtain oil from US-sanctioned countries and guarantee supplies, its ambassador to the United States said.

The Philippines, which relies heavily on imported fuel, declared a state of national energy emergency on Tuesday to deal with the fallout from the Middle East war, including ‌the disruptions to oil procurement. “We are working with the State Department to get waivers or exemptions to purchase oil from US-sanctioned countries,” Jose Manuel Romualdez told Reuters in an exchange of phone messages.

Asked if imports of oil from Venezuela and Iran were part of the discussions, Romualdez said “all options are being considered”.

Asked what has been the response from the State Department, the ambassador said: “Work in progress.” As of March 20, the government said the Philippines had around 45 days of fuel supply, and is procuring one million ⁠more barrels of oil to build its buffer stock.

Philippine President Ferdinand Marcos Jnr said in a televised address on Wednesday that the country’s fuel ‌supply would not run dry after 45 days as his government has been looking for other sources. “We are exploring other sources not affected by the war,” Marcos Jnr said. “Things are beginning to open up … we can be confident that after ‌the 45 days we will have a flow of oil.” The Philippines imports almost all of its crude from ⁠the Middle East, with Saudi ⁠Arabia its biggest supplier, making it vulnerable to oil price shocks and supply disruptions.

Marcos Jnr said the emergency declaration was a “precautionary tool” allowing the government to be ready “for whatever comes ‌next”.

The declaration, which will be in effect for one year, authorises the government to purchase fuel and petroleum products and pay a portion of the contract amount in advance to ensure timely ‌and ‌sufficient supply, among other special powers. “We should not panic,” Marcos Jnr said, while assuring the public that his government is doing everything it ‌can to alleviate the situation.

A man watches a worker adjust petrol prices at a petrol station in Quezon city, the Philippines on Tuesday.

Photo: AP Transport workers, commuters, and consumer groups are planning a two-day strike from T

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