Petron says Russian crude may stay in the mix if supply crunch gets worse

Petron said it may again buy Russian crude oil if the Middle East crisis drags on and other supply options remain too limited. The company framed the move as a possible energy security measure, saying the country cannot afford a shaky fuel supply habang tuloy ang pressure sa global market.

In its disclosure, Petron said purchases of Russian crude would only be considered if the current crisis persists and alternative sources are unavailable or insufficient. The company added that any such decision would be made in close coordination with the Philippine government and guided by the goal of protecting national energy security.

The Manila Times reported that Petron also disclosed it had already procured a total of 2.48 million barrels of crude oil from Russia through Executive Order No. 110 dated March 24. That detail matters because it shows the company is not merely floating a theory — it already has Russian supply in the picture.

The statement comes at a time when fuel availability has become a bigger concern for businesses, transport operators, and ordinary consumers. If disruptions in traditional supply routes continue, more companies may be pushed to look at politically sensitive but commercially available alternatives.

Bottom line: Petron is keeping its options open, and Russian crude is clearly one of them. It is a practical but delicate position, since the issue is not just about price but also about how the Philippines keeps its fuel system stable in a tense geopolitical moment.

Source: The Manila Times