Amid a state of national emergency declared to manage rising global fuel uncertainty, the Philippines get some breathing space as the government moves on two fronts: securing additional oil imports and advancing a major domestic gas discovery.
President Ferdinand Marcos Jr. on Friday said the country now has sufficient crude oil supply in the near term, even as efforts continue to source more fuel amid ongoing volatility in global markets.
“We already have a supply of crude oil, a sufficient supply of crude oil until June 30. But we are still looking for supply, we are still supporting our commuters,” Marcos said in a media statement.
The assurance comes as the administration implements Executive Order No. 110, which declared a state of national emergency for energy. The order activates a whole-of-government response to ensure stable supply, uninterrupted services, and protection for vulnerable sectors as tensions in the Middle East continue to threaten global oil flows.
Despite current buffers of around 45 days, the President stressed the need for sustained sourcing efforts.
“And my instruction to them is: do not stop. Continue looking for additional supply because we do not know how long this situation will last,” he said.
“And when we say we have — now we are talking about around 45 days on average, more or less. But we do not know how long this will last, or how long the supply is going to be diminished from the Middle East through the Strait of Hormuz,” he added.
To hedge against disruptions, the Philippines is exploring alternative suppliers, including Russia, Japan, China, and South Korea.
At the same time, the government is banking on a breakthrough in domestic energy production to reduce long-term dependence on imports.
The day before (March 26), Marcos revealed the successful drilling and testing of the Camago-3 well under the Malampaya Phase 4 project — marking a significant step in strengthening indigenous energy capacity.
“My fellow Filipinos, today I am proud to announce another step forward in our mission to secure affordable, reliable energy for every Filipino,” the President said.
“The Camago-3 well has been successfully drilled and tested, producing up to 60 million standard cubic feet of gas per day,” he added.
The development is part of the $893-million Malampaya expansion, which is expected to yield significantly more recoverable gas and extend the life of the gas field by up to six years, translating into more stable and potentially cheaper electricity for consumers.
“Every unit of power we generate from Malampaya instead of imported fuel is money saved by households, by small businesses, by every Filipino that pays an electric bill,” Marcos said.
“Alam natin lahat kung gaano kahalaga ito ngayon. Ang kaguluhan sa Middle East ay nagdudulot ng matinding pabago-bago sa presyo ng gasolina sa buong mundo,” he added.
The project also signals renewed investment in energy infrastructure, with new subsea pipelines being laid for the first time in over two decades. First gas delivery from the Malampaya Phase 4 wells is targeted by the fourth quarter of 2026, alongside continued exploration of additional sites such as Bagong Pag-asa.
Together, the twin developments — expanded import sourcing and strengthened domestic production — form the backbone of the government’s strategy to navigate immediate risks while building longer-term energy resilience as the war in the Middle East escalates.