Petron, PTT PH Assures Public of Oil Supply

Following the drone attacks on two of Saudi Arabia's oil production facilities last week as claimed by Yemen's Houthi rebels, local oil companies Petron Philippines and PTT Philippines have announced that their supplies were enough for the market.

"We wish to assure the public that there will be no supply disruption from our end," Petron said in a statement on Monday, September 16, two days after the incident. "We have adequate supply to support our domestic requirements."

A day later, on September 17, PTT Philippines made a similar announcement following the latest round of oil price adjustments most local petroleum companies made earlier that day.

"Amidst this development, we would like to assure the public that we have enough supplies for the domestic consumption based on our current inventories," PTT Philippines said. "Nonetheless, we are closely monitoring any developments in the world market if the Saudi attacks will adversely affect the stability of the supplies of crude oil."

Following the attacks, the Department of Energy (DOE) said that it was still premature to give assessments on the impact of the attack on domestic oil prices, but stressed that it continues to monitor developments in the international market.

The Philippine government, through the Department of Foreign Affairs (DFA), condemned the attack as "deplorable."

"The Philippine Government strongly condemns the attack on civilians and non-military facilities in the Kingdom of Saudi Arabia," the DFA said in a press statement. "The drone strikes against Saudi Aramco facilities on 14 September 2019 are unjustified and deplorable."

Although the attacks have forced Saudi Arabia to suspend its oil production by 50 percent, which corresponds to nearly two million barrels per day, Saudi Arabia Energy Minister Abdulaziz bin Salman Al Saud has said that production will be fully restored by the end of September.

Read All

Featured Articles

Recommended Articles For You

Read All

Featured Cars

  • Upcoming

Car Articles From Zigwheels

  • News
  • Article Feature
  • Advisory Stories
  • Road Test
  • VinFast PH, V-Green, Green GSM, ink partnership with BDO
    VinFast PH, V-Green, Green GSM, ink partnership with BDO
    Paulo Papa . Today
  • Catch the Suzuki Fronx in all PH dealerships this weekend
    Catch the Suzuki Fronx in all PH dealerships this weekend
    Ruben Manahan IV . Today
  • Toyota Motor PH extends TGR Philippines eSports GT Championship 2025 qualifiers
    Toyota Motor PH extends TGR Philippines eSports GT Championship 2025 qualifiers
    Ruben Manahan IV . Today
  • BYD Cars PH debuts all-new Tang DM-i
    BYD Cars PH debuts all-new Tang DM-i
    Cesar Miguel . Sep 17, 2025
  • Omoda, Jaecoo NEV sales breach 600k-unit mark worldwide
    Omoda, Jaecoo NEV sales breach 600k-unit mark worldwide
    Ruben Manahan IV . Sep 16, 2025
  • Check out JMC EV2’s key strengths, weaknesses
    Check out JMC EV2’s key strengths, weaknesses
    Cesar Miguel . Sep 17, 2025
  • Here are the 7 stunning colors of the Omoda C5
    Here are the 7 stunning colors of the Omoda C5
    Paulo Papa . Sep 17, 2025
  • Check out the GWM Ora 03’s key rivals
    Check out the GWM Ora 03’s key rivals
    Cesar Miguel . Sep 12, 2025
  • Here are the Ford Territory Hybrid’s strengths, weaknesses
    Here are the Ford Territory Hybrid’s strengths, weaknesses
    Cesar Miguel . Sep 12, 2025
  • VinFast VF 5: top 3 reasons to buy
    VinFast VF 5: top 3 reasons to buy
    Paulo Papa . Sep 09, 2025
  • How well do you understand traffic signs?
    How well do you understand traffic signs?
    Cesar Miguel . Sep 09, 2025
  • How car collectors can take advantage of Liqui Moly products
    How car collectors can take advantage of Liqui Moly products
    Ruben Manahan IV . Sep 08, 2025
  • Do you still need to wash your car after it rains?
    Do you still need to wash your car after it rains?
    Cesar Miguel . Jun 12, 2025
  • What should you visit first at MIAS 2025?
    What should you visit first at MIAS 2025?
    Cesar Miguel . Apr 11, 2025
  • Do you really need 4x4 for overlanding?
    Do you really need 4x4 for overlanding?
    Cesar Miguel . Mar 26, 2025
  • Ford Everest Sport Special Edition: ‘tough’-tier SUV
    Ford Everest Sport Special Edition: ‘tough’-tier SUV
    Paulo Papa . Sep 15, 2025
  • Toyota Corolla Cross GR-S HEV: sporty yet sustainable
    Toyota Corolla Cross GR-S HEV: sporty yet sustainable
    Paulo Papa . Sep 08, 2025
  • ELECTRIA: JMC EV3 - cutesy city slicker
    ELECTRIA: JMC EV3 - cutesy city slicker
    Cesar Miguel . Sep 04, 2025
  • First drive: Here’s why the Li Mega is the ideal pick for those who wants to be chauffeured
    First drive: Here’s why the Li Mega is the ideal pick for those who wants to be chauffeured
    Paulo Papa . Aug 27, 2025
  • GWM Cannon: range day
    GWM Cannon: range day
    Paulo Papa . Jul 29, 2025