PH says it’s working with Washington to obtain oil from US-sanctioned countries

MANILA, Philippines – The Philippines is working with Washington to secure waivers and exemptions so it can obtain oil from United States-sanctioned countries to ensure supply, its ambassador to the US said.

The Philippines, which relies heavily on imported fuel, on Tuesday declared a state of national energy emergency to deal with the fallout from the Middle East war, including oil procurement.

“We are working with the State Department to get waivers or exemptions to purchase oil from US-sanctioned countries,” Jose Manuel Romualdez told Reuters in an exchange of phone messages.

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Asked if Venezuelan and Iranian oil were part of the discussions, Romualdez said “all options are being considered.”

Asked what has been the response from the State Department, the ambassador said: “Work in progress.”

As of March 20, the government said the Philippines had around 45 days of fuel supply, and is procuring 1 million more barrels of oil to build its buffer stock.

The emergency declaration, which will be in effect for one year, authorized the government to purchase fuel and petroleum products to ensure timely and sufficient supply.

Manila has temporarily increased coal-fired generation due to the energy supply pressures. It was due to receive its first Russian crude oil import in five years this week following a 30-day waiver issued by the US.

Washington on Friday also issued a 30-day sanctions waiver for the purchase of Iranian oil already at sea. The waiver applies to oil loaded on any vessel, including tankers under sanctions, on or before March 20 and discharged by April 19. – Rappler.com