Philippines Requires Oil and Gas Firms to Disclose Storage Capacity Amid Fuel Supply Concerns

Gate News message, April 15 — The Philippine Department of Energy (DOE) has issued an advisory requiring oil and gas companies to disclose their available storage capacity at depots and terminals nationwide. The measure aims to monitor fuel supply levels amid global energy market disruptions. Non-compliance may result in permit cancellation or suspension, and the advisory authorizes the Philippine National Oil Company to utilize private storage facilities to support the country's petroleum requirements.

As of April 10, the Philippines' available fuel inventory can last up to 50.31 days. LPG supply is the most constrained, lasting only 36 days, compared to 54 days for gasoline and 48 days for diesel. DOE Secretary Sharon Garin noted that the government ordered additional LPG stock this week due to low current inventory levels.

The new LPG shipment is expected to arrive in the second to third week of May, which will strengthen the country's LPG buffer stock. A fresh diesel shipment is scheduled to arrive by week's end.