The Philippines has oil reserves for 40-45 days, according to Philippine Foreign Minister Maria Theresa Lazaro.

The Philippines has become the first country in the world to declare a state of emergency due to the energy shortage caused by the conflict in the Middle East. The Secretary for Foreign Affairs, Maria Theresa Lazaro, emphasized that the country has oil reserves for 40-45 days, warning about the ripple effects of rising energy prices on the economy.

Philippine President Ferdinand Marcos Jr. announced urgent measures to ensure the stability of energy supply, including energy-saving actions, fuel subsidies, and measures against speculation and market manipulation.