Following the first 142,000-barrel shipment that arrived on March 26, the Philippine government has secured a total of 1.04 million barrels of diesel to bolster the country's fuel buffer amid the global oil crisis. The remaining 900,000 barrels are expected next month, helping maintain stocks above minimum levels during the energy emergency.
MANILA, Philippines — Building on the initial delivery of 142,000 barrels (22.58 million liters) of diesel that arrived on March 26, the Department of Energy (DOE) has confirmed an additional 900,000 barrels—equivalent to 165.68 million liters or about five days' supply—scheduled for delivery in coming weeks.
State-run Philippine National Oil Co. (PNOC) is leading the procurement and will offer the stocks to local oil firms if their deliveries are delayed. Energy Secretary Sharon Garin assured the public that the country's oil stocks, including those in transit, will suffice through the second week of May. As of March 20, the Philippines had 45 days' worth of fuel inventory, exceeding the 15-day minimum requirement.
"The DOE, in coordination with PNOC Exploration Corp., continues to implement the necessary measures to safeguard the country’s energy security and support the oil supply needs of households, commuters and businesses," the agency stated.
In related developments, the Philippines received its first crude shipment from Russia in five years last week, with the Sierra Leone-flagged tanker Sara Sky carrying 100,000 tons (about 750,000 barrels) of ESPO Blend oil moored at Limay anchorage in Bataan. Petron Corp., operator of the country’s remaining oil refiner, is listed as consignee.
