As the country, like other nations, scramble to find supply in the midst of the ongoing conflict in the Middle East.
Through an address to the nation, President Ferdinand Marcos, Jr. announced that the country is assured of a 51-day oil supply as the PNOC Exploration Corporation (PNOC-EC) was able to procure over a million barrels.
“Nag-order na ang PNOC-EC ng 1.04 milyong bariles ng diesel. Mayroon ding 142,000 na bariles na [na-deliver] ngayong linggo. Ang natitira ay darating sa buwan ng Abril,” he said.
The chief executive continued, “Nai-release na ng DBM (Departament of Brludget and Management)bang PhP20 bilyon para sa procurement ng hanggang dalawang milyong bariles ng karagdagang langis. Sampung araw ito na dagdag sa ating buffer stock. Sa ngayon, may 51 days tayo na supply dito sa bansa.”
In a previous pronouncement, President Marcos Jr. said the Philippines has sufficient crude oil supply until June 30 this year.
MEASURES BEING TAKEN BY GOV’T
Meanwhile, President Marcos listed the measures undertaken to address the energy emergency, as declared in Executive Order No. (EO) 110 last March 24.
In which, the Department of Energy (DOE), Philippine National Oil Company (PNOC), and PNOC-EC were authorized to act quickly on oil procurements.
EO 110 also authorized the DOE to recommend Energy Regulatory Commission (ERC) action on the operation of the Wholesale Electricity Spot Market (WESM) to monitor electricity prices and to prevent price fluctuations.
“Simula March 26, pansamantalang sinuspinde na ng ERC ang WESM,” he billed. “Ibig sabihin, ipatutupad na ang optimal dispatch ng mas murang energy source tulad ng renewable,”
“Magkakaroon din ng kontrol ang gobyerno sa presyuhan sa WESM. Kasalukuyan itong inaayos na ng ERC,” he furthered.
The President then signed on March 25, Republic Act No. 12316, which granted him the authority to suspend the imposition of excise tax on oil if needed.
Marcos said the Development Budget Coordination Committee (DBCC) will meet this week to present its excise tax assessment.
As to the long-term solution, the President told the successful drilling and testing of the Camago-3 well in Malampaya, Palawan, which can produce up to 60 million cubic feet of gas per day, benefiting Filipino power consumers.
At present, the government also extended “ayuda” (support) to affected workers and operators in the transport sector, as well as ordinary commuters through programs of the Department of Social Welfare and Development (DSWD) and the Department of Transportation (DOTr).
The government, President Marcos said, allocated PHP2.5 billion in fuel subsidies to more than 1.4 million driver-beneficiaries and unit operators.
Some 155 drivers and 55,252 unit operators received a fuel subsidy amounting to PHP300 million.
Also, more than 256,000 transport workers in Metro Manila received PHP5,000 cash assistance, with mthe government is preparing PHP1.28 billion additional support—starting with the nationwide handover commencing April 6.
Meanwhile directly to commuters, a 50 percent discount on LRT-2 and MRT-3 fares, which benefits more than 12 million additional passengers, and the “Libreng Sakay” in Metro Manila, Metro Cebu, and Metro Davao are also being implemented.
There is also temporary toll discount is being extended to jeepney, bus, and freight food transport in NLEX, SLEX, and STAR.
Starting April 15, ports will collect PhP1 RORO terminal fee for vehicles carrying agricultural products.
