This, as a new shipment has added millions of liters to the country’s existing stockpile.
Presidential Communications Office (PCO) Undersecretary and Palace Press Officer Claire Castro said during the a press briefing on Monday, April 27, that the country’s buffer supply of oil has seen a slight increase.
According to her, “Good news, dahil sa ngayon ang buffer stock ng supply ng langis ay tumaas mula 52 hanggang 54 days.”
Her pronouncement comes after the Department of Energy (DOE) confirmed that all diesel shipments secured under the government’s Emergency Energy Security Program have arrived, delivering a total of 178,331,781 liters of diesel.
The first shipment, consisting of 142,531.23 barrels or 22,660,613 liters of diesel from Japan, arrived in Batangas on March 26.
The second shipment, consisting of 329,650 barrels or 52,410,065 liters, arrived in Subic in April.
This was followed by the third shipment, consisting of 319,576 barrels or 50,808,430 liters, also delivered to Subic from Singapore, and the fourth shipment, consisting of 329,918 barrels or 52,452,673 liters, also from Singapore, which arrived in Davao City.
This stockpile will help strengthen the country’s supply amid the continued volatility in the global oil markets due to the ongoing developments in the Middle East.
Through the Philippine National Oil Company-Exploration Corporation (PNOC-EC), phased diesel deliveries were secured to help maintain stable and sufficient supply in the domestic market in the midst of the ongoing national energy emergency.
Energy Secretary Sharon Garin noted, “The arrival of all four diesel shipments shows that the government is acting with urgency to protect the country’s fuel supply.”
“As the Middle East conflict continues, our priority is to ensure that the Philippines remains prepared, adequately supplied, and able to respond swiftly to developments that may affect fuel availability and market stability,” she furthered.
Also on Monday, President Ferdinand Marcos, Jr. presided over the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) committee meeting at the Palace, where the country’s fuel and food situations were discussed.