DOE says Philippines’ fuel supply good for 50.9 days

MANILA, Philippines – The Philippines’ current fuel inventory can now last up to 50.9 days, slightly longer than the previously reported 45-day supply, the Department of Energy (DOE) said.

In a press conference on Monday evening, March 30, Energy Secretary Sharon Garin said the country continued to replenish its stocks while adding new ones to extend the inventory’s lifespan.

“Our supply gives us a level of assurance in the sense that we have a lead time to order more while we are consuming for the month of April,” she said.

Garin also explained what it means when the fuel inventory can last for a certain number of days. Prior to the conflict, the DOE required oil companies in the Philippines to maintain a 30-day supply of oil products. This allows ample time to replenish stocks.

“While we consume, we can replenish every 10 days. Same for kerosene, jet fuel, fuel oil, and LPG. Our supply gives us a level of assurance in the sense that we have lead time to order for more while we are consuming for the month of April,” she said.

The slight boost in fuel inventory comes as the Philippines ramps up fuel procurement amid the ongoing conflict in the Middle East.

Garin said the Philippines had just ordered over 1 million barrels of diesel, which are expected to be delivered on the following schedule:

• Early April – 300,000 barrels from Malaysia and Singapore
• Mid-April – 300,000 barrels from North Asia and India
• End-April – 300,000 barrels from Oman via Singapore

The Philippines also received a delivery of around 142,000 barrels from Japan on Thursday, March 26. – Rappler.com