MANILA, Philippines – The Department of Energy is aiming to secure two million barrels of fuel using a P20-billion emergency fund to augment the supply amid the global fuel shortages.

The target volume is set under the DOE’s emergency energy security program “which includes the procurement of refined petroleum products, LPG supply augmentation, and domestic inventory stock building.”

Energy Secretary Sharon Garin said in a release Thursday, March 26, that the fuel program is a “strong” intervention to “secure fuel supply, maintain orderly market conditions, and protect the welfare of every Filipino motorist.”

The Philippine National Oil Corporation (PNOC) and the PNOC Exploration Corporation, as implementing agencies, will receive the funds. President Ferdinand Marcos Jr. directed the release of the P20-billion emergency fund after he declared a national energy emergency.

As of March 20, the Philippines’ fuel supply is enough to last 45 days, according to Garin.

– Rappler.com