President Marcos orders procurement of 318 million liters of crude oil to boost PH supply

President Ferdinand R. Marcos Jr. has directed the Department of Energy (DOE), through the Philippine National Oil Company (PNOC), to secure 318 million liters (2 million barrels) of crude oil from various countries to strengthen the Philippines’ energy supply.

During a Palace press briefing on Friday, DOE Secretary Sharon Garin announced that 165 million liters of the total order are expected to arrive soon from Malaysia, Singapore, India, and Oman.

Garin assured the public that there is no immediate risk of an oil shortage, despite concerns regarding geopolitical tensions in the Middle East.

“Pero hindi nangyari ‘to, kahit wala iyong (UPLIFT) committee pa, ginawa na ‘to ng Presidente at inutos na sa Department of Energy, through the Philippine National Oil Company (PNOC), bumibili na iyong gobyerno ng sariling supply para ma-augment/madagdagan ang supply ng ating oil companies,” Garin said.

“In fact, ang kabuuang—165 million liters ang ina-acquire ng PNOC. Ang target nito kasi is 318 million liters, 2 million barrels,” Garin added

To ensure energy stability and reduce exposure to risks from the Middle East conflict, the government has adopted the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT), coordinated response framework designed to keep the energy supply stable and ensure essential services remain uninterrupted.

Garin noted that the government is actively engaging with other countries to diversify crude oil sources. This strategy aims to reduce dependence on the Middle East and the Strait of Hormuz.

She said oil firms in the Philippines are currently exploring alternative suppliers while maintaining oil stocks sufficient for approximately 50 days.

However, she said this does not imply supply will be depleted after 50 days, as stocks are continuously replenished as new shipments arrive.

The government has established a system to ensure the timely and secure delivery of oil imports, with coordination extending to foreign embassies through the Department of Foreign Affairs.

"This has been accomplished already, may system na kami with the oil companies – ‘pag may problema sila, sinusumbong namin sa ating mga taga-Department of Foreign Affairs at sila ang kumakausap sa mga ambassadors so they can help to make sure na iyong mga orders ng oil companies at PNOC ay dumarating. Ito po iyong whole-of-government approach,” Garin said.

-Paraluman News