A fisherman travels past the Sara Sky, which last week arrived in the Philippines bearing crude oil from Russia

A fisherman travels past the Sara Sky, which last week arrived in the Philippines bearing crude oil from Russia

 Ted ALJIBE

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, as the country seeks to replenish fast-dwindling fuel reserves.

The Philippines has seen the price of fuel hit historic highs since the US-Israeli war with Iran forced the partial closure of the Strait of Hormuz, with President Ferdinand Marcos most recently saying stocks could last until June 30.

Originally published on doc.afp.com, part of the BLOX Digital Content Exchange.

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