MANILA, Philippines — The Department of Energy said Saturday that the Philippine government has received more than 300,000 barrels of diesel from Malaysia as part of its effort to build fuel reserves amid the ongoing Middle East crisis.
Energy Secretary Sharon Garin confirmed the arrival of the shipment, stating that the government procured 329,000 barrels, or 52.31 million liters, through the Philippine National Oil Company-Exploration Corp. to strengthen supply.
Garin announced the delivery in a Facebook post and said the government continues to stockpile fuel while instability in the Middle East affects global oil markets.
The shipment forms part of a planned 900,000-barrel import program for April, divided into three batches of about 300,000 barrels each. The government expects the remaining shipments to arrive in the second and third weeks of the month, with supplies sourced from North Asia, India and Oman.
The Department of Energy said the imports aim to build a buffer against supply disruptions and price volatility. The government has expanded its sourcing to include countries outside the Middle East.
Garin said in a briefing on Friday that the government has secured about 165 million liters of oil through the Philippine National Oil Company to augment domestic supply. She said the supply will come from Malaysia, Singapore, India and Oman, but she did not provide a delivery schedule.
The Department of Energy earlier reported that national oil inventory has increased to about 50 days of supply, up from the usual 30 days, depending on consumption and replenishment rates.
The government has also sourced liquefied petroleum gas from India, Argentina and Canada as part of its efforts to strengthen energy security.
