PHILIPPINES IMPORTS 240M LITERS DIESEL IN RUSSIA LASTS FOR 3 DAYS ONLY TO SUBSIDE OIL CRISIS - PHILIPPINE REPUBLIC NEWS

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Thursday, May 31, 2018

PHILIPPINES IMPORTS 240M LITERS DIESEL IN RUSSIA LASTS FOR 3 DAYS ONLY TO SUBSIDE OIL CRISIS








The Philippines is importing 240 million liters of diesel from Russia that will lasted only three days to subside the possible oil crisis that will hit in the country. The Department of Energy said that the importation will not affect the prices to slow down.

Wimpy Fuentebella, an undersecretary DoE said the fuel from Russia is for stockpiling only in case of emergency.

He added that the Philippine National Oil Co.-Exploration Corp. was now trying to seal a government-to-government deal with Russia for the delivery of the diesel fuel.

Russia is not a member of the Organization of Petroleum Exporting Countries (OPEC), the group where the Philippines often buys its oil.


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