Petron Corp. procured 2.48 million barrels of crude oil from Russia amid the war in Iran and the Philippines' quest for alternative suppliers to support domestic energy needs.

Petron Corp., the Philippines’ only refiner, has procured 2.48 million barrels of crude oil from Russia as the Southeast Asian nation scours the world for alternative suppliers to support domestic energy needs with the war in Iran raging. “If the current crisis persists and alternative crude sources remain unavailable or insufficient, Petron may again be compelled to consider purchases of Russian crude oil to augment the national fuel supply,” parent San Miguel Corp. said in a statement to...