Energy Emergency Nation, RI's Neighbour Officially Buys Up Russian Oil

Amid a worsening energy crisis due to the conflict in the Middle East, a ship carrying more than 700,000 barrels of Russian crude oil arrived in the Philippines, just days after the country declared a national energy emergency. This arrival marks Manila’s step towards seeking alternative supply sources as fuel prices surge and global supplies are disrupted. A source familiar with the transaction told AFP on Thursday (26/3/2026) that the Sierra Leone-flagged vessel named Sara Sky arrived on Monday carrying high-quality crude oil from Russia’s ESPO pipeline route. Shipping documents show the cargo recipient is Petron Corp, the sole oil refinery operator in the Philippines. The source requested anonymity as they were not authorised to speak to the media. The Philippines is heavily reliant on fuel imports, while costs have surged to all-time highs since the US-Israel war with Iran triggered the partial closure of the vital Strait of Hormuz shipping lane. AFP monitoring confirmed that Sara Sky docked at the port of Limay, just outside Manila, where Petron’s refinery is located. This shipment is believed to be the first delivery of Russian oil to the Philippines in the last five years. Last week, Petron CEO Ramon Ang told AFP that his company was “in talks” for the possibility of purchasing Russian oil. However, on Thursday, he declined to confirm the arrival of the cargo. Meanwhile, Philippine President Ferdinand Marcos stated that the government is expanding its search for fuel sources as domestic stocks are estimated to last only 45 days. “We are not only approaching our traditional oil suppliers; we are also trying to explore other sources not affected by the ongoing war in the Middle East,” he said in a press conference on the energy emergency. “Nothing is ruled out. We are looking at everything, everything we can do,” he added. In the meantime, the Philippine Department of Energy has activated an emergency fund of 20 billion pesos, or about US$332 million. Energy Minister Sharon Garin described the move as a “proactive step” to secure fuel supplies. Garin had previously stated that the archipelago nation plans to increase coal-fired power generation to curb electricity costs as the war disrupts gas shipments. With LNG prices surging, she said the Philippines will “temporarily” become more reliant on that fossil fuel, which is the main contributor to carbon dioxide emissions causing global warming from human activities. She added that the Philippines’ main coal supplier, Indonesia, is not imposing “restrictions” on the amount Manila can purchase if imports need to be increased. Earlier this month, the United States eased some restrictions on the sale of Russian crude oil, allowing countries to purchase oil already at sea until 11 April. Kpler analyst Muyu Xu said around 120 million barrels of Russian oil might be at sea at that time, and most are likely pre-ordered by clients in China or India.