Hanoi (VNA) – The Philippines has received its first shipment of Russian crude oil in five years as it seeks alternative sources amid concerns over disruptions to global energy supplies.
Multiple reports, citing analytics firms LSEG, Kpler and OilX, indicated that a tanker carrying 100,000 tonnes of ESPO blend crude from Russia's Kozmino port was bound for Petron’s refinery in Bataan. Shipping tracker MarineTraffic showed that the Sierra Leone-flagged vessel Sara Sky, carrying the oil, arrived in Limay, Bataan, at 14:00 on March 24.
Reuters earlier reported that the Philippines was expected to import Russian oil this month as it seeks alternative supply sources amid fears of shortages, as Iran maintains control over the Strait of Hormuz during its conflict with the US.
The Philippines relies heavily on Middle Eastern oil and faces supply risks and price volatility linked to regional tensions.
Energy Secretary Sharon Garin said Manila is exploring all options, including sources from Russia. The country is also in talks with suppliers in Thailand, Japan and Singapore.
A 30-day window expiring on April 11, during which the US eased certain sanctions on Russian oil while the conflict continues, has allowed countries to purchase cargo already in transit.
On March 24, President Ferdinand Marcos Jr. declared a national energy emergency through an executive order, allowing the government to fast-track fuel procurement, make advance payments for fuel contracts, and ensure the availability of fuel and other essential goods amid rising prices./.
