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Philippines declares energy emergency over Iran conflict
Philippines declares energy emergency over Iran conflict
16 minutes ago
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Jessica Rawnsley
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President Ferdinand Marcos Jr warned of “imminent danger” to the country’s fuel supplies
The Philippines has declared a state of national energy emergency, citing the “imminent danger” posed to the country’s fuel supplies by the conflict in the Middle East.
President Ferdinand Marcos Jr said he had signed an executive order to safeguard energy security amid severe disruption to global supply chains.
The US-Israel war with Iran - and the effective closure of the Strait of Hormuz, a key shipping route - has sent shock waves through global energy markets, causing soaring prices and shortages.
The Philippines is highly dependent on fuel imports and particularly vulnerable to disruptions in production and shipments.
“A state of national energy emergency is hereby declared in light of the ongoing conflict in the Middle East, and the resulting imminent danger posed upon the availability and stability of the country’s energy supply,” Marcos said in the executive order shared with media on Tuesday.
Marcos said the move would allow the government to take “co-ordinated measures” to address disruptions in the country’s economy.
He added that a committee had been formed to ensure the orderly movement, supply, distribution and availability of fuel, food, medicines and other essential goods.
The declaration will remain in place for one year, he said.
It follows calls from several senators who urged Marcos to acknowledge the “emergency-level” hardship faced by Philippine families due to soaring oil prices.
Earlier on Tuesday, Energy Secretary Sharon Garin said the country had about 45 days of fuel supply left.
Garin told reporters the country would “temporarily” depend more heavily on coal-fired power plants to meet its energy needs in response to the surging costs of liquefied natural gas (LNG).
Asia is particularly exposed to the blockade of the Strait of Hormuz. Last year, nearly 90% of all the oil and gas that passed through the waterway was bound for the region.
Iran
Philippines
Fuel
Iran war