home.social

#department-of-energy-doe — Public Fediverse posts

Live and recent posts from across the Fediverse tagged #department-of-energy-doe, aggregated by home.social.

fetched live
  1. Philippines Energy Department Identifying More Potential Nuclear Power Plant Sites

    The Department of Energy (DOE) is identifying more potential sites in the Philippines for nuclear power facilities, according to a news report by BusinessWorld.

    To put things in perspective, posted below is an excerpt from the BusinessWorld news report. Some parts in boldface…

    THE DEPARTMENT of Energy (DoE) is identifying more potential sites for nuclear power facilities as the government targets 1.4 gigawatts of nuclear capacity by 2038.

    Energy Undersecretary Giovanni Carlo J. Bacordo said the government is studying seven areas as possible locations for future nuclear power plants.

    “There are two sites in Bataan, two sites in Palawan, one in Masbate, Pangasinan, and Camarines Norte,” Mr. Bacordo told reporters on Tuesday.

    These sites have undergone initial assessment, with technical assistance from the International Atomic Energy Agency (IAEA) to determine whether the areas can safely host nuclear facilities.

    “Nuclear energy is not simply about deciding to build a power plant. We must build the institutions, the regulatory system, the technical capability, the financing framework, and the public confidence to support it,” Mr. Bacordo said.

    These sites will set the foundation as the Philippines works toward its goal of developing 1,200 megawatts (MW) of nuclear power generation by 2032. Beyond this target, the country is also considering the entry of 1,400 MW of nuclear capacity by 2038.

    The DoE said the country’s progress on nuclear development heeds to the call of President Ferdinand R. Marcos, Jr. in his 2026 State of the Nation Address to revisit nuclear energy as part of efforts to strengthen energy security and bring down electricity costs.

    The Philippines is positioning nuclear energy as part of efforts to diversify its energy mix, reduce emissions, and enhance energy security.

    “Nuclear can add firm capacity and diversify the energy mix, but it does not replace the need for other technologies,” Energy Secretary Sharon S. Garin said.

    Amid concerns over the safety of nuclear power, the DoE said public acceptance has increased, citing a Social Weather Stations survey that showed public approval of nuclear energy rose to 82% in 2024 from 79% in 2019.

    While laying down the groundwork for nuclear energy sites, the DoE said it also focuses on addressing the remaining work across the IAEA’s 19 nuclear infrastructure issues, with priority areas covering electrical grid readiness; safety, security and safeguards; legal and regulatory requirements; emergency preparedness; nuclear fuel cycle and waste management; stakeholder involvement; and nuclear workforce development.

    Let me end this post by asking you readers: What is your reaction to this recent development? Do you feel confident that nuclear energy will be realized in the Philippines in your lifetime? Did you encounter a lot of people living with nuclear fear?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ASEAN #Asia #AssociationOfSoutheastAsianNationsASEAN #Bing #BongbongMarcos #BusinessWorld #CarloCarrasco #ChatGPT #DepartmentOfEnergyDOE #economics #economy #EconomyOfThePhilippines #energy #Facebook #Fediverse #geek #Google #GoogleSearch #governance #Instagram #InternationalAtomicEnergyAgencyIAEA #Investagrams #Marcos #Mastodon #multiculturalism #news #nuclear #nuclearEnergy #nuclearPhilippines #nuclearPower #nuclearPowerPlant #nuclearReactors #nuclearTechnology #Philippines #PhilippinesBlog #Pinoy #power #PresidentMarcos #publicService #socialMedia #SoutheastAsia #technology #Twitter #WordPress #WordPressCom #YESToNuclearPower
  2. Dedicated Power Plant For Pax Silica’s Energy Needs

    To ensure that the ambitious Pax Silica will have its very own power supply to meet its needs, the Bases Conversion and Development Authority (BCDA) recently announced that the proponents are studying the construction of a dedicated power plant, according to a business news report by GMA News.

    Previously a P7 billion investment of the National Grid Corporation of the Philippines (NGCP) for Pax Silica’s energy supply was prompted. New Clark City was chosen to host the artificial intelligence (AI) hub.

    To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

    The Bases Conversion and Development Authority (BCDA) said Sunday that proponents of the US-led Pax Silica project in New Clark City, Tarlac, are studying the construction of a dedicated power plant to ensure the facility does not compete with nearby residential communities for electricity.

    Pax Silica has faced scrutiny over its projected resource requirements, with the BCDA estimating that the facility could require up to 3 gigawatts (3 million kilowatts) of power at full development.

    “‘Yung kuryente, pinag-aaralan nila na magkaroon ng dedicated power plant… na hindi ito magsasapanganib sa supply ng kuryente lalo na para sa mga residential na komunidad. Ayaw rin nila ‘yon,” BCDA President and CEO Joshua Bingcang said in an interview on Super Radyo dzBB.

    (Regarding power, they are studying the establishment of a dedicated power plant so that it will not jeopardize the electricity supply, especially for residential communities. They also want to avoid that.)

    Bingcang said officials have discussed power and water requirements with the project’s proponents and partners from the United States, Japan, and South Korea, who also want to ensure that the facility has sufficient utility supplies.

    “Kasi kung nakikita nilang wala, hindi rin pupunta ‘yung mga industriya na ito. So gusto nila, ‘pag pupunta rin sila dito, is stable, reliable at maaasahan ang kuryente,” Bingcang said.

    (Because if they see that there is insufficient supply, these industries will not come. So if they invest here, they want the power supply to be stable, reliable, and dependable.)

    “Kaya ngayon po, kasama na po, hindi lang po sa paggawa ng mga planta doon sa New Clark City, tinitingnan din nila ‘yung ecosystem,” he added.

    (That is why they are looking not only at building plants in New Clark City but also at the entire ecosystem.)

    Bingcang said this ecosystem includes the availability and reliability of power and water, as well as infrastructure, airports, seaports, and other facilities.

    Clean, green energy – The BCDA said Pax Silica aims to use clean and green energy, with solar farms among the primary options being considered.

    “So ang una po naming tiningnan dito ay solar farms. So meron na po tayong inaprubahan na solar project po diyan—ang mamumuhunan po ay sa Saudi Arabia,” Bingcang said.

    (The first option we looked at was solar farms. We have already approved a solar project there involving an investor from Saudi Arabia.)

    “Susunod po, hinihikayat na rin o nire-regulate na rin ng Department of Energy magkaroon ng mga battery storage… Kasi ang solar farm po ay mga ilang oras lang po, ‘pag gabi, wala na, so kailangan meron pong imbakan o storage ng baterya para sa maipon na enerhiya sa mga solar farm,” he added.

    (Next, the Department of Energy is encouraging and regulating the use of battery storage. Solar farms generate power only during the day, so battery storage systems are needed to store energy for use when solar power is unavailable.)

    Let me end this post by asking you readers: What is your reaction to this recent development? Do you think Pax Silica will eventually have its very own, high-capacity power plant to ensure it has sufficient energy while sparing the local communities that relied on the national power grid? Do you think solar power is sufficient for Pax Silica which will have AI-related projects?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ArtificialIntelligenceAI #ASEAN #Asia #AssociationOfSoutheastAsianNationsASEAN #BasesConversionAndDevelopmentAuthorityBCDA #BCDA #Bing #business #businessNews #CarloCarrasco #ChatGPT #DepartmentOfEnergyDOE #economics #economy #EconomyOfThePhilippines #energy #Facebook #finance #geek #GMANetwork #GMANews #Google #GoogleSearch #governance #inflation #Instagram #Investagrams #jobs #money #multiculturalism #NewClarkCity #news #NGCP #PaxSilica #Philippines #PhilippinesBlog #Pinoy #power #powerPlants #publicService #recession #socialMedia #solar #solarEnergy #solarPower #SoutheastAsia #Tarlac #technology #Twitter #WordPress #WordPressCom
  3. Philippines Electricity The Most Expensive In ASEAN

    Due to the low supply of electricity and the high demand recorded this past June, the Philippines had the most expensive electricity rates among member nations of the Association of Southeast Asian Nations (ASEAN), according to a news report by GMA News.

    Be reminded that the Philippines is experiencing weak economic growth, high inflation, and has been weak when it comes to attracting foreign direct investment. Could imagine how foreign investors would react to the expensive electricity here in the Philippines?

    To put things in perspective, posted below is an excerpt from the GMA News report. Some parts in boldface…

    The Philippines had the most expensive electricity rates among the Association of Southeast Asian Nations (ASEAN) in June due to low supply and high demand recorded during the month, the Department of Energy (DOE) reported Monday.

    According to DOE Undersecretary Rowena Cristina Guevara, the country reported an average rate of P12.43 per kilowatt-hour (kWh) in June, surpassing that of Singapore by P0.093 per kilowatt-hour.

    “Sa Visayas, siya talaga ‘yung pinakamahal dahil talagang may kakulangan tayo sa supply doon. Meron tayong 21 plants na naka-forced outage and therefore, dependent siya talaga sa Luzon at sa Mindanao for imported power,” she said in a virtual briefing.

    (Visayas was really the most expensive because there was really a lack of supply there. There are 21 plants on forced outage, and therefore, it is really dependent on imported power from Luzon and Mindanao.)

    “Alam niyo naman, naka-yellow alert sila palagi (As you know, they have been on yellow alert regularly) since May 13, and that is the one that is driving the price high for Visayas,” she added.

    The Visayas grid has been on yellow alert — indicating that the operating margin is insufficient to meet the transmission grid’s contingency requirement — for several days in June, due to the continued forced outage of major coal plants in the region.

    Among the outages recorded were Therma Visayas Inc. (TVI) units 1 and 2 and Panay Energy Development Corp. (PEDC).

    “For the rest… Meron kasi din tayong mga matataas na demand during the summer months, and therefore we have to operate the more expensive power plants. Imbes na mag-blackout, paandarin na lang ‘yung mga medyo mahal na plant,” Guevara said.

    (For the rest… Demand was also high during the summer months, and therefore, we have to operate the more expensive power plants. Instead of blackouts, we ran more expensive plants.)

    Let me end this post by asking you readers: What is your reaction to this recent development? What do you think must be done to ensure abundant electricity for the Filipinos? Are you convinced now is the time for the government of the Philippines to go all-in on nuclear power? How much was your electric bill this past June?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ASEAN #Asia #AsiaPacific #AssociationOfSoutheastAsianNationsASEAN #Bing #BongbongMarcos #business #businessNews #CarloCarrasco #ChatGPT #DepartmentOfEnergyDOE #economicConfidence #economicDynamism #economicGrowth #economics #economy #EconomyOfThePhilippines #electricity #energy #Facebook #finance #GDPGrowth #geek #GMANetwork #GMANews #Google #GoogleSearch #governance #grossDomesticProductGDP #Instagram #Investagrams #Marcos #money #news #nuclear #nuclearEnergy #nuclearPower #Philippines #PhilippinesBlog #Pinoy #power #PresidentMarcos #publicService #Singapore #socialMedia #SoutheastAsia #technology #Twitter #WordPress #WordPressCom
  4. IAEA Pledges Technical Guidance For The Philippines

    The effort of the Philippines to lay the foundation for the intended integration of nuclear power into the national grid got a boost from the International Atomic Energy Agency (IAEA) which pledged technical guidance to the government, according to a Manila Bulletin news report.

    To put things in perspective, posted below is an excerpt from the Manila Bulletin news report. Some parts in boldface…

    As the Philippines actively lays the foundation for the integration of nuclear power into its national grid, the International Atomic Energy Agency (IAEA) has pledged technical guidance to support the government once it opens dedicated green energy auctions (GEAs) for the technology.

    IAEA Director General Rafael Mariano Grossi told Manila Bulletin last Monday, June 8, that the Vienna-headquartered agency is ready to assist in the Philippines’ nuclear auction process, provided that the legal and regulatory groundwork for the country’s nuclear framework is clearly established and moving forward.

    Citing his visit to Manila in November last year, Grossi noted that advisory support on the auction framework was among the topics discussed during his meeting with President Ferdinand R. Marcos Jr. regarding bilateral nuclear cooperation.

    “We have also discussed the possibility of providing advice in terms of the bidding process. So there’s a range of things where the IAEA will be able to contribute,” the IAEA chief said.

    The Department of Energy (DOE), through its Nuclear Energy Program Inter-Agency Committee (NEP-IAC), said last year that it is studying an auction mechanism specific to nuclear energy, which would be treated similarly to the government’s existing GEA Program (GEAP). Patrick Aquino, technical secretariat head of NEP-IAC, previously said that overcoming legal challenges would allow the government to begin consultations on a nuclear auction.

    Last November, the IAEA signed a memorandum of understanding (MOU) with the Manila-based multilateral lender Asian Development Bank (ADB) to establish a framework supporting nuclear energy development in the Philippines, including the potential deployment of small modular reactors (SMRs).

    The agreement includes knowledge-sharing and technical capacity-building initiatives, energy planning, nuclear fuel cycle management, radioactive waste management, and assistance throughout the life cycle of nuclear facilities.

    Let me end this post by asking you readers: What is your reaction to this recent development? Do you think the government of the Philippines will be able to establish the foundation of integrating nuclear power into the national grid before the term of President Marcos ends in mid-2028? Do you think the IAEA’s pledge of support will accelerate the nuclear-related developments in the country?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ASEAN #Asia #AsianDevelopmentBankADB #AssociationOfSoutheastAsianNationsASEAN #Bing #BongbongMarcos #business #businessNews #CarloCarrasco #ChatGPT #DepartmentOfEnergyDOE #economics #economy #EconomyOfThePhilippines #energy #Facebook #geek #Google #GoogleSearch #governance #Instagram #InternationalAtomicEnergyAgencyIAEA #Investagrams #ManilaBulletin #Marcos #news #nuclear #nuclearEnergy #NuclearEnergyProgramInterAgencyCommitteeNEPIAC #nuclearPhilippines #nuclearPower #nuclearReactors #nuclearSafety #Philippines #PhilippinesBlog #Pinoy #PresidentMarcos #publicService #smallModularReactorsSMRs #socialMedia #SoutheastAsia #technology #Twitter #WordPress #WordPressCom
  5. Japan Joins America’s Genesis Mission

    Japan and the United States have formally confirmed their partnership on the Genesis Mission project and together they will invest heavily on it and cooperate closely over the next several years, according to a news report by NHK World. That said, Japan is officially the first international partner on the ambitious project.

    Officially launched by US President Donald Trump in late-2025, Genesis Mission unites the US Department of Energy (DOE) National Labs, industry, academia, and more to harness AI for breakthroughs in energy dominance, discovery science, and national security.

    To put things in perspective, posted below is an excerpt from the NHK World report. Some parts in boldface…

    Japan will join a US national project called “Genesis Mission,” which is aimed at accelerating scientific research and technological innovation by using artificial intelligence and supercomputers.

    Japan will be the project’s first international partner.

    The US and Japanese governments will each invest 500 million dollars in the project over five years.

    US President Donald Trump’s administration launched the project last November.

    Delegates from the US Department of Energy, Japanese ministries of education, science and technology as well as Economy, Trade and Industry signed the statement of intent at the DOE in Washington on Thursday.

    DOE Under Secretary for Science and Genesis Mission Lead Dario Gil said it is a “defining moment” for the next era of science.

    Under the partnership, US national laboratories and leading Japanese research institutions, including Riken and the National Institute for Materials Science, will boost research collaborations to advance breakthroughs in areas such as quantum information science, fusion energy and biotechnology.

    The move is also aimed at strengthening the two partners’ global competitiveness in science and technology with China in mind.

    The US and Japanese governments also plan to discuss how to ensure the protection of crucial databases and intellectual property.

    The vice-minister for policy coordination of the Japanese education, science and technology ministry, Kakita Yasuyoshi, said Japan has abundant quality data resources obtained through research and development.

    To learn more about Genesis Mission, click here.

    Let me end this piece by asking you readers: What is your reaction to this development? Do you think the US-Japan partnership will boost the chances of breakthroughs within the Genesis Mission?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #ArtificialIntelligenceAI #Asia #Bing #CarloCarrasco #ChatGPT #China #CommunistChina #democracy #DepartmentOfEnergyDOE #discoveryScience #diversity #DonaldJTrump #DonaldTrump #education #energy #energyDominance #Facebook #geek #GenesisMission #geopolitics #Google #GoogleSearch #governance #Inclusion #Instagram #Instapundit #Investagrams #Japan #Japanese #MAGA #MakeAmericaGreatAgain #MakeAmericaGreatAgainMAGA #nationalSecurity #NHK #NHKWorld #Nippon #PresidentTrump #researchAndDevelopmentRD #SanaeTakaichi #science #scienceAndTechnology #security #socialMedia #TakaichiSanae #Trump #TrumpSAmerica #WordPress #WordPressCom
  6. Philippines President And US Secretary Of State Discuss Important Matters Over The Phone

    During the morning yesterday, Philippine President Ferdinand “Bongbong” Marcos received a telephone call from United States Secretary of State Marco Rubio and they discussed security and economic priorities, according to a news report by the Manila Bulletin. Rubio reaffirmed America’s commitment to peace and stability in the South China Sea and the Luzon Economic Corridor (for references, click here and here).

    To put things in perspective, posted below is the excerpt from the Manila Bulletin report. Some parts in boldface…

    President Marcos and United States Secretary of State Marco Rubio discussed bilateral security and economic priorities, including developments in the South China Sea and regional energy concerns, during a phone call on Monday morning, June 1.

    In a Facebook post, President Marcos described his phone call with Rubio as “productive.”

    “I had a productive phone call with US Secretary of State Marco Rubio this morning, during which we discussed critical regional and economic priorities, and bilateral trade matters,” he said.

    “Our exchange underscored our countries’ mutual commitment to strengthening the PH-US alliance and addressing shared regional interests,” he added.

    Details of the conversation were first released by the US State Department through a readout attributed to spokesperson Thomas Pigott.

    “Secretary of State Marco Rubio spoke today with Philippine President Ferdinand Marcos, Jr. to discuss a range of bilateral economic and security priorities, including efforts to advance peace and security in the South China Sea,” the statement read.

    According to the US State Department, Rubio also reaffirmed Washington’s commitment to the Luzon Economic Corridor — a trilateral initiative involving the Philippines, the US, and Japan aimed at accelerating infrastructure and investment projects in Luzon.

    “The Secretary reaffirmed US commitment to developing the Luzon Economic Corridor and exploring ways to address the energy challenges in the region,” the statement added.

    Rubio also underscored the strength of the long-standing alliance between Manila and Washington.

    “The Secretary emphasized the strength of the United States-Philippines Alliance and the continued close cooperation as the two countries commemorate 80 years of diplomatic relations and 75 years as Allies in 2026, the US readout stated.

    The Philippines and the United States are treaty allies under the 1951 Mutual Defense Treaty and have expanded defense cooperation in recent years amid growing tensions in the South China Sea.

    Let me end this piece by asking you readers: What is your reaction to this development? Do you think the current state of ties between America and the Philippines will eventually get stronger soon? Do you think the anticipated economic benefits of Pax Silica and the Luzon Economic Corridor will be realized before the end of President Marcos’ term? Do you think the Philippines will have to drop whatever agreements it recently made with America’s enemies such as Communist China, the Palestinian terrorists and the Islamic terrorist regime of Iran?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @CarloCarrascoPH as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #America #AmericaFirst #ASEAN #AssociationOfSoutheastAsianNationsASEAN #BongbongMarcos #CarloCarrasco #ChatGPT #China #CommunistChina #DepartmentOfEnergyDOE #DepartmentOfForeignAffairsDFA #DepartmentOfState #diplomacy #diversity #DonaldJTrump #DonaldTrump #economics #economy #EconomyOfThePhilippines #EconomyOfTheUnitedStates #Facebook #foreignAffairs #geek #geopolitics #Google #GoogleSearch #identityPolitics #Inclusion #Instagram #Instapundit #Investagrams #Iran #IslamicTerrorism #IslamicTerroristRegimeOfIran #IslamicTerroristStateOfIran #IslamicTerrorists #Islamist #IslamoLeft #LuzonEconomicCorridorLEC #MaTheresaLazaro #MAGA #MakeAmericaGreatAgain #MakeAmericaGreatAgainMAGA #ManilaBulletin #MarcoRubio #Marcos #military #militaryEquipment #militaryLifestyle #NOToAPalestinianState #PalestinianAuthority #PalestinianAuthorityPA #PalestinianRefugees #PalestinianTerrorists #Palestinians #PaxSilica #politics #PresidentMarcos #PresidentTrump #Republicans #socialMedia #StateDepartment #StraitOfHormuz #technology #Trump #TrumpSAmerica #Tumblr #UnitedStates #UnitedStatesOfAmerica #UnitedStatesOfAmericaUSA #USStateDepartment #woke #WordPress #WordPressCom #YousefEsmaeilzadeh
  7. Almost 2.5 Million Barrels of Russian Crude Oil Acquired By Petron

    Fuel giant Petron confirmed that it has almost 2.5 million barrels of crude oil from Russia, according to news report by GMA News. The acquisition has been perceived by many as crucial as the Philippines is struggling with very expensive fuel.

    To put things in perspective, posted below is an excerpt the GMA News report. Some parts in boldface…

    Petron Corp. on Monday confirmed the procurement of 2.48 million barrels of crude oil from Russia to augment its inventory until June, as the country’s supply reaches what it described as a “precarious” level amid the ongoing conflict in the Middle East.

    The listed fuel retailer, which holds a 30% share of the Philippine market and operates the country’s only oil refinery, said it closely coordinated with the Departments of Energy (DOE) and Finance (DOF) on the purchase after both agencies called on local companies to secure alternative sources of crude and finished products.

    “The corporation wishes to emphasize that the procurement of Russian crude oil is not part of its business-as-usual sourcing strategy,” Petron said in a regulatory filing.

    “The purchases were undertaken strictly out of extreme necessity, as an extraordinary emergency measure in response to unprecedented geopolitical and supply chain disruptions, and only after exhausting all commercially and operationally viable alternatives,” it added.

    Petron said it also received confirmation from the Bangko Sentral ng Pilipinas (BSP) that there is no prohibition under Philippine law on sourcing foreign currency for import and trade transactions, clearing the way for the importation of Russian crude oil.

    The corporation said that if the current crisis persists and alternative crude sources remain unavailable or insufficient, it may again be compelled to consider purchasing Russian crude oil to augment the national fuel supply.

    It added that this would help directly mitigate the adverse consequences arising from the absence of a stable and reliable source of crude.

    Let me end this post by asking you readers: What is your reaction to this recent development? Does Petron’s procurement of 2.48 million barrels of Russian crude oil make you feel relieved when it comes to the overall supply of fuel in the Philippines?

    You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

    +++++

    Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at  @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram athttps://www.instagram.com/authorcarlocarrasco

    #Asia #BangkoSentralNgPilipinasBSP #Bing #Blog #blogger #blogging #business #businessNews #CarloCarrasco #ChatGPT #crudeOil #DepartmentOfEnergyDOE #DepartmentOfFinanceDOF #diesel #economics #economy #EconomyOfThePhilippines #Facebook #fuel #gasoline #geek #GMANetwork #GMANews #Google #GoogleSearch #governance #inflation #Instagram #Investagrams #news #oil #Petron #Philippines #PhilippinesBlog #Pinoy #publicService #Russia #socialMedia #SoutheastAsia #technology #Tumblr #Twitter #WordPress #WordPressCom
Share on Mastodon

Enter the server where you have an account.