On March 25, Ukraine carried out air strikes on several oil depots and export terminals in Russia, temporarily affecting some oil export operations. Events like this can influence the global oil supply and may also affect fuel prices.
On the same day, the Philippines received a shipment of crude oil from Russia in Bataan, showing efforts to diversify the country’s fuel sources.
Then on March 26, another delivery of refined petroleum products from Japan arrived in La Union, helping ensure continued fuel supply in the country.
With these developments in the global oil situation, some are also wondering whether future cooperation between China and the Philippines on oil exploration in the South China Sea could be discussed again—although this remains a sensitive issue because of territorial concerns.
Overall, these events show how important it is for the Philippines to maintain multiple sources of energy supply during times of global uncertainty. ⛽🌏