The Philippines has begun plans to build its own strategic petroleum stockpile following supply disruptions and price shocks triggered by conflict in the Middle East, Energy Secretary Sharon Garin said.
The government is exploring a partnership between the Philippine National Oil Company (PNOC) and the Maharlika Investment Corp to establish fuel reserves that would go beyond the current 30 to 60 days of private-sector inventories.
Garin said the proposed facility, which could initially store around 500,000 barrels, aims to strengthen energy security and buffer the country against global supply disruptions.
Feasibility studies, site selection, and funding arrangements are expected to be finalized within the month, with the first phase potentially completed in about a year.
Officials said the move marks a major shift in government policy toward a more active role in ensuring a stable fuel supply amid global uncertainties.
Source: PhilNews24 | June 3, 2026
