Camille Naredo

Senator Sherwin Gatchalian attends the plenary budget deliberations at the Philippine Senate in Pasay City on November 27, 2025. Jonathan Cellona, ABS-CBN News/File

Senator Sherwin Gatchalian attends the plenary budget deliberations at the Philippine Senate in Pasay City on November 27, 2025. Jonathan Cellona, ABS-CBN News

Article (news)

SENATE- BUDGET HEARING

Victoria Tulad

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/177442934315420251127-senate-budget-deliberation-gatchalian-JC6746.jpg" style="width:960px" class="fr-fic fr-dib" alt="Senator Sherwin Gatchalian attends the plenary budget deliberations at the Philippine Senate in Pasay City on November 27, 2025. Jonathan Cellona, ABS-CBN News/File" width="960"/>Senator Sherwin Gatchalian attends the plenary budget deliberations at the Philippine Senate in Pasay City on November 27, 2025. Jonathan Cellona, ABS-CBN News/File</div>MANILA -- Senate Committee on Finance Chairperson Sherwin Gatchalian called for a unified, coordinated national contingency plan to address the oil crisis brought about by the Middle East conflict.The senator said the fact that this contingency plan has not yet been created is concerning. This was one of the issues discussed during the hearing of the Senate Proactive Response and Oversight for Timely and Effective Crisis Strategy (Protect) committee on Tuesday.Gatchalian is chair of the PROTECT committee, an ad hoc committee.<div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/nation/2026/3/25/marcos-sign-bill-cut-oil-excise-taxes-1500">READ: Marcos says may sign bill to cut oil taxes on Wednesday </a></div>“Talagang concerning kasi kahapon very clear na walang national contingency plan after 25 days. Kung titignan natin lahat ng mga oil shocks na nangyari, yung sa Saudi Arabia attack, yung sa Ukraine major ha, ito yung pinakamalala. Dapat kaagad, nung nangyari ito sa Strait of Hormuz, na-anticipate na natin magkakaroon ng supply issues.“At when I say anticipate, kasama na dito yung pagda-draft ng National Contingency Plan. Kasi nga, ang punto naman natin dito is kailangan guided rin ang publiko at ang lehislatura kung ano ang gagawin sa bawat ibang senaryo. At anong budget ang kakailanganin natin sa bawat ibang senaryo. Dahil hindi maliit na pondo ang kakailanganin natin, medyo I&#x27;m sure magiging malaking pondo ang mare-require,” he explained.In terms of subsidies, Gatchalian said there is still enough fund under the 2026 General Appropriations Act amounting to P190 billion.&quot;Merong assistance to persons in crisis. Meron rin yan mga livelihood programs. Meron din diyan pantawid pasada. Iba-iba. Pag inipon yan, ang computation namin, mga around 190 billion,” he said.Gatchalian believes the possibility of the country running out of oil supply is likely even though Department of Energy (DOE) Secretary Sharon Garin supposedly downplayed this in the hearing yesterday.“Ang pinakamalala kung wala tayong langis. At hindi malayo mangyari yan. Of course, kahapon dina-downplay ni Secretary Garin, pero para sa akin hindi malayo mangyari yan dahil wala tayong firm supply. Hand to mouth ang ating assistance right now. So after 60 days na wala pa tayong firm supply, problema yan para sa atin,” Gatchalian warned.He also said there may be a double-digit inflation, which he called alarming.<div> </div><div>GOVERNMENT-TO-GOVERNMENT</div>Gatchalian suggested for the Department of Energy (DOE) to enter into a government-to-government arrangement to purchase oil because he thinks private companies can no longer do so.He said the Department of Foreign Affairs and Department of Finance may help in the effort.<div><a class="fr-green fr-strong" href="https://www.abs-cbn.com/news/business/2026/3/25/philippines-eyeing-russian-oil-marcos-1336">READ: Philippines eyeing Russian oil– Marcos</a></div>“Kumbaga beyond their capability na itong nangyayari. So kailangan government-to-government na para maka-secure tayo ng firm supply. Kung matatandaan natin, ganyan ginawa natin sa bigas,” Gatchalian said.The senator is also seeking to amend the oil deregulation law to unbundle oil prices and submit regular reports to the DOE for price monitoring.“Para makita natin kung ano ba talaga ang labis-labis ba or reasonable lang yung kanilang kita. Dahil sa mga ganitong punto, madaling umabuso eh. Madaling bibili ka ng lumang presyo, bebenta mo ng bagong presyo. Talagang napakadaling abusuhin yung mga ganitong sitwasyon. At yan talaga ang inaantay ng mga traders, yung mga ganitong sitwasyon, dahil mabilis silang pwedeng magbenta,” Gatchalian said.He admitted that corruption remains possible.“So in this case, ang nakikita kong possible route of corruption is yung pagbili ng langis. Dahil any purchase can be a source of corruption. Since ito government-to-government naman, typically ang government-to-government, mabilis ang negotiations, at pangalawa, wala naman ditong pinag-uusapang private profit,” Gatchalian said.In terms of aid distribution, he said one way of avoiding corruption is by making sure that the list of beneficiaries is accurate.Senate Deputy Majority Leader JV Ejercito called out those who will try to take advantage of the crisis.“There&#x27;s a special place in hell for those people na wala ng konsensya kahit na krisis. Eh talagang walang patawad. Mahiyan naman kayo. So, yun ang magiging, yan ang lagi kong sinasabi, na challenge dito sa mga pagbigay ng assistance sa DSWD and other agencies na dahil cash ito, it&#x27;s really prone to temptation. Pero sana naman, lalo na ngayong panahon ng krisis, magkaroon naman sila ng konsensya,” Ejercito remarked.Asked about the possibility of the Philippines and China conducting a joint oil and gas exploration, Gatchalian said this may be looked into, but cautioned the former to be firm.  “Dahil nga meron ng ganitong sitwasyon, baka pwedeng tignan ulit. Pero maging sensitibo tayo at maging firm rin tayo pagdating sa territory and sovereignty natin and also our sovereign rights,” Gatchalian said.“Sila kasi may technology to extract oil and gas. Tayo naman kailangan din natin. So may mutual benefit.”The PROTECT Committee will have another hearing on Thursday, and Gatchalian hopes to immediately submit their committee report to Malacañang.

Senate Committee on Finance Chairperson Sherwin Gatchalian called for a unified, coordinated national contingency plan to address the oil crisis brought about by the Middle East conflict.

Senate Committee on Finance Chairperson Sherwin Gatchalian called for a unified, coordinated national contingency plan to address the oil crisis brought about by the Middle East conflict.

Gatchalian calls for unified national contingency plan to address oil crisis

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Gatchalian calls for unified national contingency plan to address oil crisis

Victoria Tulad,

ABS-CBN News

Published March 25, 2026 05:04 PM PHT

Read More:

Sherwin Gatchalian

oil crisis

national contingency plan

China

Middle East conflict

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