MANILA, Philippines — The government’s first batch of over one million barrels of diesel is set to arrive next week, providing enough fuel to meet the country’s demand for five days, Executive Secretary Ralph Recto said on Sunday.
The shipment, ordered by the Department of Energy, totals 1.04 million barrels, or roughly 165.67 million liters, and is part of the administration’s target to purchase 2 million barrels of diesel, amounting to about P20 billion under the DOE’s Emergency Energy Security Program.
“[T]he oil diplomacy ably conducted by energy officials led by Secretary Sharon Garin has resulted in the firm order of 1.04 million barrels of diesel, with the first batch arriving this week,” Recto said.
The contracts, finalized through the state-owned Philippine National Oil Company Exploration Corp., are intended to boost domestic fuel supply amid disruptions caused by the conflict in the Middle East. While the government did not disclose specific suppliers, it is exploring potential partners not only in Southeast Asia but also in Japan, Canada, and the United States.
Indonesia has also provided an “ironclad guarantee” of coal supply for the country’s power plants. Additionally, a ship carrying more than 700,000 barrels of Russian crude oil arrived last week for Petron Corp, which runs the nation’s only oil refinery in Limay, Bataan.
Earlier this month, the DOE reported that about 142,000 barrels of diesel, or 22.58 million liters, have already been delivered to bolster the local stockpile. Garin said the fresh supplies will be sold to local fuel retailers at cost.
President Ferdinand Marcos Jr. previously stated that the country has sufficient crude oil supply until June 30 and has ordered the DOE to secure additional fuel to expand the nation’s 45-day fuel reserve amid uncertainties in the Middle East.
