April supply buffer falling; DOE races to secure new oil shipments

The government is weighing a pivot toward discounted crude from Russia and the United States (US) to stabilize the country's energy security, though the Department of Energy (DOE) warns that logistical hurdles may prevent the shipments from arriving before domestic stockpiles hit critical levels.

- GABRIELL CHRISTEL GALANG

Energy Secretary Sharon Garin said in an interview with ANC on Wednesday, March 18, that while the government is aggressively exploring alternative sources to replenish the nation's dwindling fuel reserves, the window for action is narrowing.

Garin noted that current local oil inventories have fallen below the 40-day mark, and while they remain above the mandated 15-day minimum buffer, the trajectory suggests a potential supply crunch by late April-a development opposed to her optimism when she appeared before the House Committee on Ways and Means chaired by Marikina City 2nd District Rep. Miro Quimbo on March 9.