Marcos: PH has enough crude oil supply until June 30

MANILA, Philippines — President Ferdinand Marcos Jr. on Friday said the country has sufficient crude oil supply until June 30, 2026.

“We already have a supply of crude oil, a sufficient supply of crude oil until June 30. But we are still looking for supply, we are still supporting our commuters,” Marcos said in a media statement in Pasay City.

On Wednesday, Marcos said he has ordered the Department of Energy to secure additional fuel sources, even though the country currently has up to 45 days’ worth of supply.

READ: Marcos to DOE: Secure more fuel sources while PH has 45-day supply

“And my instruction to them is: do not stop. Continue looking for additional supply because we do not know how long this situation will last,” the president said.

“And when we say we have — now we are talking about around 45 days on average, more or less. But we do not know how long this will last, or how long the supply is going to be diminished from the Middle East through the Strait of Hormuz,” he continued.

He added that the country is exploring alternative fuel sources from nations such as Russia, Japan, China, and South Korea.

Marcos also recently issued Executive Order No. 110, declaring a state of national emergency that will remain in effect for one year unless sooner lifted or extended.

Under this, the government adopts the Unified Package for Livelihoods, Industry, Food, and Transport as a coordinated, whole-of-government response framework aimed at ensuring a stable domestic energy supply, uninterrupted essential services, and continued economic activity, and protecting the welfare of the citizens, especially in vulnerable sectors. /das