Philippines has enough oil supply amid Russia-Ukraine standoff — DOE

The Department of Energy (DOE) on Thursday assured that the country has a sufficient oil supply despite the escalating tensions between Russia and Ukraine.

While the Philippines does not buy oil directly from Russia, its trading partners such as China, South Korea, and Japan do, according to the DOE.

"Unfortunately, these countries are importing from Russia, so indirectly, tatamaan tayo [we will be hit]," DOE-Oil Industry Management Bureau director Rino Abad said in Joseph Morong's report on "24 Oras."

Abad said the DOE has already coordinated with oil companies in the country to ensure supply for this year.

"Inanticipate na kasi namin itong problemang ito. Secured na nila 'yung supply for 2022," he said.

(We had anticipated this problem, but we have now secured supply through 2022.)

According to Reuters, Russia has more than 100,000 troops massed near Ukraine, and Washington has repeatedly stated that an invasion is imminent.

Moscow denies any such plans, accusing the West of "hysteria."  — Ma. Angelica Garcia/VBL, GMA News