Wednesday, May 20, 2026
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Tag: crude oil

Petron oil refinery secures 2.5 million barrels of Russian crude

Manila, Philippines—The Philippines' sole oil refinery has secured nearly 2.5 million barrels of Russian crude out of "extreme necessity," a stock exchange filing revealed Monday,...

Marcos: Crude oil on hand to last until June 30

President Ferdinand Marcos Jr. said Friday the Philippines has secured enough crude oil supply to last until June 30, providing a temporary buffer against...

PSEi rises for 2nd day as oil prices ease, peso depreciates

Philippine shares rose for a second straight trading day after a decline in global oil prices eased concerns about a possible spike in the...

Stocks, peso sink as Middle East war drives oil prices above $100

The Philippine peso and local stocks plummeted Monday as fuel prices soared on supply fears fueled by the ongoing conflict between the United States,...

PXP Energy expands exploration footprint despite P50.2-m loss in 2025

PXP Energy Corp. losses widened to P50.2 million in 2025 from P33.3 million in 2024, driven by lower production volumes from the Galoc field...

Local stocks rise, peso stronger on hopes of BSP rate cut

Local stocks rebounded Wednesday on hopes of a possible rate cut by the Bangko Sentral ng Pilipinas (BSP). The benchmark Philippine Stock Exchange index (PSEi)...

US will control Venezuelan oil sales ‘indefinitely’

Washington, United States—US Energy Secretary Chris Wright said Wednesday that Washington will control sales of Venezuelan oil "indefinitely," a day after President Donald Trump announced...

Diesel higher at P0.80/l, gas and kerosene up by P0.20/l

Consumers will experience higher pump prices of P0.80 per liter for diesel and P0.20 per liter for gasoline and kerosene effective 6am today due...

February inflation may hit as high as 4.7%

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said Friday inflation rate in February likely accelerated to as high as 4.7 percent from 4.2 percent...

Cambodia hails extraction of ‘first drop of oil’

PHNOM PENH, Cambodia—Cambodian premier Hun Sen announced Tuesday that the kingdom had extracted its first drop of crude oil from its waters, a long-awaited...

Saudi Aramco reports 44.6% dive in third-quarter profit

Riyadh, Saudi Arabia—Energy giant Saudi Aramco on Tuesday posted a 44.6-percent slump in third-quarter profit, as the coronavirus pandemic weighs heavily on demand for...

Shell confirms interest in buying crude from Cebu oilfield

Oil refiner Pilipinas Shell Petroleum Corp. confirmed its interest to buy crude oil from the Alegria oil and gas onshore discovery in Cebu for...

Oil imports surged 34% to $6.31 billion in first half

Oil imports surged 34.4 percent in the first six months, on the back of higher shipments and value of crude oil and finished products...

Russian oil giant exploring PH

Russian petroleum company Rosneft plans to deliver crude oil and establish a refining facility in the Philippines. Rosneft said in a statement on its website...
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