Russian oil arrives in PH amid 'energy emergency'

Описание: Good evening.

You’re watching The Manila Times’ News Prime.

Today is March 26th.

Our top story:

A ship carrying more than 700,000 barrels of Russian crude oil has reportedly arrived in the country. The sea vessel is the Sierra Leone-flagged Sara Sky. It was reportedly spotted by a journalist of the Agence France-Presse in a port just outside Manila, where the Petron refinery is located. Petron declined to confirm the arrival of the shipment. This is believed to be the first shipment of Russian oil to the Philippines in five years. President Marcos earlier said the government is exploring other sources of oil that are not affected by the Middle East war.

Read more: https://tmt.news/2308073

The Philippines is not ruling out the possibility of a joint exploration with China in developing oil and gas resources in the West Philippine Sea. This was stated by Palace Press Secretary Claire Castro. She was reacting to China’s pronouncement that it is willing to strike a deal with the Philippines if it would show “sincerity.”

Castro said that if such a deal is good for the Philippines, the President has no objections. President Marcos earlier said a joint exploration is one matter the two countries have been discussing. However, he added that territorial disputes are getting in the way of any agreement.

Read more: https://tmt.news/2308123

The labor group TUCP is calling on President Marcos to include minimum wage earners in the government’s cash-support program. It urged the government to immediately roll out a P5,000 subsidy for private sector employees. There are over five million minimum wage earners in the country. TUCP says those workers are also suffering from the effects of rising fuel costs. It pointed out that Congress has yet to act on the long-delayed legislated wage hike.

Read more: https://tmt.news/2308156

The Development Bank of the Philippines (DBP) is willing to temporarily waive or suspend penalties on overdue loans of transport cooperatives and small companies. This was disclosed by the LTFRB. Those loans were obtained to finance the purchase of modern jeepneys under the Public Transport Modernization Program. LTFRB Chairman Vigor Mendoza says they asked the DBP for a temporary waiver or suspension of penalties on delayed payments. They cited the financial strain caused by rising fuel prices. In response, DBP says it may grant a temporary suspension or waiver of penalties on a case-to-case basis.

The Philippines’ reliance on Middle East energy supplies is no longer a manageable risk but a national security vulnerability. This was the consensus of the participants of the Manila Times Energy Forum 2026. They stressed that long-term resilience lies in developing indigenous energy sources and strengthening grid infrastructure. They also underscored the need to move beyond temporary fuel subsidies toward localized energy solutions. Napocor CEO Koko Nograles says that one of their goals is for barangays to sustain themselves via solar and wind. This, he said, would effectively protect them from the adverse effects of the global market.

For more news and information, read The Manila Times on print, subscribe to its digital edition or log on to www.manilatimes.net.

Follow us on Facebook, Instagram, Twitter, TikTok, WhatsApp, and LinkedIn; and be part of our communities on Viber, Telegram, and Mastodon.

That’s all for now on The Manila Times’ News Prime. Remember to stay safe, stay informed, and stay connected.

Check out our Streaming Channel: https://streaming.manilatimes.net/

Subscribe to The Manila Times Channel - https://tmt.ph/YTSubscribe
Visit our website at [https://www.manilatimes.net](https://www.manilatimes.net/)

Follow us:
Facebook - https://tmt.ph/facebook
Instagram - https://tmt.ph/instagram
Twitter - https://tmt.ph/twitter
DailyMotion - https://tmt.ph/dailymotion

Subscribe to our Digital Edition - https://tmt.ph/digital

Check out our Podcasts:
Spotify - https://tmt.ph/spotify
Apple Podcasts - https://tmt.ph/applepodcasts
Amazon Music - https://tmt.ph/amazonmusic
Deezer: https://tmt.ph/deezer
Tune In: https://tmt.ph/tunein