Story perspectives

Philippines Considers Joint Oil Project with China Amid Energy Crisis

3/25/2026

Center

Marcos Considers Oil Deal

Ferdinand Marcos Jr., President of the Philippines, is considering reviving discussions with Beijing on a joint oil and gas project in the South China Sea.
Marcos Jr. cites the Iran conflict as a possible catalyst.
Marcos noted a national energy emergency from rising oil prices.
The Philippines is exploring crude oil imports from Russia.
The United States–Philippines alliance remains strong with increased access for American troops to Philippine bases.

Right

Marcos Declares Energy Emergency

On March 24, President Ferdinand Marcos Jr. declared a national energy emergency to stabilize fuel supply and mitigate rising costs amid tensions in the Middle East.
The measures will last up to one year and allocate 20 billion pesos for a diesel buffer.
Jeepney drivers highlight transport strains as diesel prices rise.
Experts are divided on the measure, and concerns remain about the economic impact of sustained high oil prices.

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Marcos Considers Oil Deal

Ferdinand Marcos Jr., President of the Philippines, is considering reviving discussions with Beijing on a joint oil and gas project in the South China Sea.
Marcos Jr. cites the Iran conflict as a possible catalyst.
Marcos noted a national energy emergency from rising oil prices.
The Philippines is exploring crude oil imports from Russia.
The United States–Philippines alliance remains strong with increased access for American troops to Philippine bases.

1 / 2