Russia’s Oil Revenues Halved in March Before Iran War Boost

The tanker Tiger Wings, Panamanian-flagged and carrying crude oil from Russia, moored off Petron's Limay refinery in Bataan, Philippines on April 1, 2026. The arrival signals Russian crude is being used as refinery feedstock in the Philippines, with potential implications for regional crude flows and sanction monitoring, though no cargo volume or pricing was disclosed. Monitor Petron statements and regulatory or sanctions developments for any impact on supply chains or regional refinery margins.

Analysis

The tanker Tiger Wings, Panamanian-flagged and carrying crude oil from Russia, moored off Petron's Limay refinery in Bataan, Philippines on April 1, 2026. The arrival signals Russian crude is being used as refinery feedstock in the Philippines, with potential implications for regional crude flows and sanction monitoring, though no cargo volume or pricing was disclosed. Monitor Petron statements and regulatory or sanctions developments for any impact on supply chains or regional refinery margins.