Gov't races to fill up fuel stocks until May

The Philippines is scrambling to secure fuel stocks for May, exploring potential supplies from as far as Canada and the United States as reserves are expected to run dry next month.

- BRIX LELIS

Energy Secretary Sharon Garin said the government and oil companies aim to lock in supply deals to ensure that the country's fuel stockpiles extend beyond April amid the ongoing Middle East conflict.

"They're (oil firms) ordering now for their May stocks. There might be risks that their source might not deliver, so the government is also procuring," Garin told ANC yesterday.

"We're slowly locking in some offers. Little by little, we're trying to make sure that May is covered," she said.

State-run Philippine National Oil Co. has started the procurement process for two million barrels of diesel from the global market, enough to provide an additional 10 days of buffer stock.

Garin said the government is also exploring alternative supply sources outside Asia, including the US, Canada and South American countries.