President Ferdinand R. Marcos Jr. has ordered the Department of Energy (DOE), through the Philippine National Oil Company (PNOC), to procure 318 million liters or 2 million barrels of crude oil from other countries to augment the Philippines’ energy supply.
During a Palace press briefing on Friday, DOE Secretary Sharon Garin said that 165 million liters of oil, out of the 318 million liters total, are already expected to be delivered to the Philippines soon from Malaysia, Singapore, India, and Oman.
Garin also allayed public fears that the Philippines would run out of crude oil due to the Middle East conflict.
“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 protect national interests and reduce the impact of the Middle East conflict, an Executive Order has adopted the Unified Package for Livelihoods, Industry, Food, and Transport (UPLIFT) as the government’s coordinated response framework, ensuring a stable energy supply, uninterrupted essential services, continued economic activity, and support for vulnerable sectors.
The DOE Secretary said the Philippine government has also been communicating with other foreign countries to acquire additional sources of crude oil, rather than relying solely on the Middle East or the Strait of Hormuz.
Garin said the Philippine oil companies are also exploring other sources, and the country is able to maintain stocks good for 50 days, not just 30 days, which is the usual oil reserve.
The DOE secretary added the 50-day oil reserve does not mean it will be depleted in 50 days, but it will be replenished as soon as other sources arrive in the country.
Garin also said that the government has built a system to ensure that the stocks coming from other countries will arrive safely and on time, as Philippine government officials communicate with the foreign ambassadors regarding this.
“So, 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.
