The Department of Energy (DOE) has assured the public that the country's petroleum reserves have not only replaced last week's consumed supply but have also increased, bringing the nation's total oil supply to 50 days as of March 27.
Energy Secretary Sharon Garin made the announcement following the arrival of 142,000 barrels of petroleum products from Japan on March 26. She also confirmed that additional crude oil orders have been secured, including 300,000 barrels from Malaysia and Singapore at the start of April, another 300,000 barrels from India in mid-May, and a further 300,000 barrels from Oman expected by the end of April.
Under normal circumstances, the DOE requires oil companies to maintain a minimum reserve of 15 days' worth of supply, while refiners are required to hold at least 30 days. This buffer is designed to give companies enough time to repurchase oil from the global market. Secretary Garin noted, however, that the country currently has nearly two months of lead time for replenishment.
"The country's total expected available days supply across all types increased from 45 days to 50.94 days. So, ito ang average natin. We added 6 more days despite the fact that we still consume. So, we consume and then we add. What this tells us is clear, that we have supply," Garin said.
["The country's total expected available days supply across all types increased from 45 days to 50.94 days. So, that is our average. We added 6 more days despite the fact that we still consume. So, we consume and then we add. What this tells us is clear, that we have supply."]
Despite the encouraging figures, the DOE continues to urge the public to practice fuel conservation to prevent the country's supply from depleting quickly, particularly amid the ongoing oil supply crisis caused by tensions in the Middle East.
"It is more for para extra careful tayo because we don't know what the war would, where it is going, kung matatapos ba 'yan, or kung tatagal ba siya, or kakalma na 'yong gyera or mag-e-escalate pa. So, as a country, this is our major appeal to our fellow Filipinos that we support each other. Sama-sama tayo and let's try to be as — magtipid tayo sa electricity at fuel para hindi po affected po ang ekonomiya natin," Garin added.
["It is more for us to be extra careful because we don't know where the war is going — whether it will end, whether it will drag on, whether things will calm down or escalate further. So, as a country, this is our major appeal to our fellow Filipinos: that we support each other. Let us stand together and try to conserve electricity and fuel so that our economy will not be affected."]























