1 million more barrels of diesel arriving

MANILA, Philippines, March 30 ------ The government has secured 1.04 million barrels of diesel to beef up the country’s fuel buffer, with the first shipment having arrived last week and the remainder expected next month.

After the arrival of 142,000 barrels containing 22.58 million liters of diesel on March 26, the Department of Energy (DOE) confirmed that an additional 900,000 barrels are scheduled for delivery in the coming weeks. The fresh shipments, equivalent to about 165.68 million liters, will provide an additional five days of supply as the country battles an energy emergency amid the global oil crisis.

State-run Philippine National Oil Co. (PNOC), which leads the procurement process, will offer the purchased stocks to local oil firms as needed, particularly in cases where their deliveries are delayed. Energy Secretary Sharon Garin has assured the public that the country’s oil stocks, including shipments in transit, will be sufficient through the second week of May.

As of March 20, the Philippines had 45 days’ worth of fuel inventory, well above the 15-day minimum requirement, according to the DOE. “The DOE, in coordination with PNOC Exploration Corp., continues to implement the necessary measures to safeguard the country’s energy security and support the oil supply needs of households, commuters and businesses,” the agency said.

Last week, the Philippines received its first crude shipment from Russia in five years, with Petron Corp. – operator of the country’s only remaining oil refiner – listed as consignee. Sierra Leone-flagged crude tanker Sara Sky arrived and moored at Limay anchorage in Bataan, carrying 100,000 tons (about 750,000 barrels) of ESPO Blend oil.

Source: philstar.com