Imee Marcos urged the government to pursue direct government-to-government (G2G) oil procurement to mitigate the impact of the ongoing Middle East fuel crisis.
Marcos said the Philippines should negotiate directly with oil-producing countries and sell fuel at lower, controlled prices to protect consumers from global price shocks.
She questioned why the government did not secure a G2G deal with Russia during a sanctions waiver period, noting that private firm Petron Corporation was able to procure 2.48 million barrels of Russian crude.
“If a private corporation can do it, why can’t the Philippine government?” she said.
Marcos cited past G2G oil deals during the 1970s under her father, Ferdinand Marcos Sr., saying discounted imports then helped cushion the effects of global oil shocks.
She added that other Asian countries such as Indonesia, Sri Lanka, and Vietnam are actively securing alternative oil sources, including from Russia.
The senator also called for diversifying supply routes away from the Strait of Hormuz, which remains vulnerable amid regional tensions, and strengthening direct ties with nearby producers such as Malaysia, Brunei, and Indonesia.
Meanwhile, the government, through the Philippine National Oil Company, has ordered 22,000 metric tons of liquefied petroleum gas to boost buffer stocks. The Department of Energy said the shipment is expected to arrive by the second or third week of May.
