As part of its efforts to secure 900,000 barrels of diesel in April, the Department of Energy (DOE) announced the arrival of the second government-secured diesel shipment under its Emergency Energy Security Program, consisting of 329,000 barrels from Malaysia.
The shipment, which equates to 52.311 million liters of diesel, is part of ongoing efforts to strengthen the country’s fuel supply amid continued volatility in the global oil market brought by developments in the Middle East.
Through state-run Philippine National Oil Co.-Exploration Corp. (PNOC-EC), the government has secured phased diesel deliveries to help ensure stable and sufficient domestic supply during a period of heightened external market uncertainty.
This newly arrived shipment follows the first delivery from Japan worth 142,000 barrels (22.578 million liters), which arrived in the Philippines last March 26.
According to the DOE, these deliveries are the result of sustained government action and close coordination across relevant agencies to translate strategic supply planning into actual fuel arrivals that can support the country’s energy requirements.
With the arrival of the Malaysian shipment, the government continues to strengthen domestic supply buffers as global oil markets remain exposed to geopolitical risks.
Energy Secretary Sharon S. Garin said the arrival of the second shipment reflects the government’s continuing efforts to stay ahead of possible supply pressures and preserve domestic fuel availability.
“This latest shipment from Malaysia further strengthens our supply position at a time when external risks remain, and the situation in the Middle East continues to evolve,” Garin said.
“The government is taking deliberate and forward-looking steps to build up available supply, support essential sectors, and help ensure that the country remains prepared for possible disruptions in the global oil market.”
The DOE added that it will continue its close coordination with industry stakeholders to monitor inventory levels and prevent supply bottlenecks that may affect transport, logistics, and power generation. – Gabriell Christel Galang
Reference : Manila Bulletin – Philippines boosts fuel buffer with new Malaysia diesel shipment