Metro Manila, Philippines – The country’s oil supply will last for 50.94 days as efforts continue to secure buffer stock of over two million barrels, the Department of Energy (DOE) said on Monday, March 30.
As of March 27, the Oil Industry Management Bureau (OIMB) listed the oil inventory per product:
Gasoline – 59.78 days
Diesel – 46.93 days
Kerosene – 107.88 days
Jet fuel – 62.69 days
Fuel oil – 57.27 days
LPG – 34.02 days
Energy Secretary Sharon Garin said that a total of 165.7 million liters, amounting to one million barrels, are expected to arrive within April.
Three hundred thousand barrels will come from Malaysia, Singapore, India, and Oman throughout the month.
“We’re now looking at LPG (liquefied petroleum gas),” said OIMB Director Rino Abad, noting that the department is considering shifting its focus to LPG, which has seen a significant price increase recently.
Abad explained that 18–19% of the production ratio of Petron Corporation’s procured oil will be allotted to LPG production.
Along with LPG, Garin said the DOE, through the Philippine National Oil Company, is also looking to purchase jet fuel.
Last Thursday, March 23, a shipment containing 142,000 barrels of diesel arrived from Japan.
