PH releases ₱P20B for DOE as President targets securing two million barrels
Philippine authorities are mobilizing resources to address a critical national security threat posed by the global oil crisis, with Department of Energy (DOE) officials warning that foreign adversaries could exploit supply disruptions if not acted upon immediately in response to recent news reports from Rappler and other outlets on March 26th.
Key Points
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1The President has ordered an immediate release of a P20-billion emergency fund to secure national fuel supplies.
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2This funding is part of the DOE's Emergency Energy Security Program aimed at mitigating global oil crisis impacts caused by Middle East conflicts and supply disruptions.
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3A specific target volume for this initiative involves securing 2 million barrels of additional fuel.
Developments
The Department of Budget and Management has allocated PHP20 billion in emergency funds for the DOE's Emergency Energy Security Program. This funding will be transferred via PNOC to purchase up to two million barrels of fuel, aiming to bolster domestic supply amid global disruptions caused by Middle East conflicts under President Marcos Jr.'s directive.
The Philippine Department of Energy plans to allocate P20 billion from an emergency fund, approved by President Ferdinand Marcos Jr., through the PNOC agencies. This program aims to procure two million barrels of fuel and augment LPG supplies over a 45-day supply period in response to declared national energy shortages affecting motorists nationwide as of March 26.
President Ferdinand Marcos Jr., acting on a directive from Acting Budget Secretary Rolando Toledo, has ordered an emergency P20 billion fund allocation sourced from the Malampaya Gas Fund. This funding is intended to support strategic fuel procurement by Philippine National Oil Company–Exploration Corp in order to stabilize prices and ensure uninterrupted operations across critical sectors during global oil crisis disruptions.
President Ferdinand R. Marcos Jr has ordered a PHP20 billion emergency fund release from the Malampaya Gas Fund through PNOC-EC to secure adequate national fuel supplies amid global oil crisis risks caused by Middle East conflict tensions. This funding supports an Emergency Energy Security Program designed for strategic procurement of diesel, gasoline, and LPG to stabilize prices and ensure uninterrupted operations across critical sectors without disrupting other government programs.
The Department of Budget and Management approved a P20-billion fund from the Malampaya Gas Fund for procurement by PNOC-EC to bolster national fuel stocks in response to President Marcos Jr.'s state energy emergency declaration. This initiative aims to stabilize pump prices, ensure uninterrupted operations across critical sectors like transport and agriculture, and protect Filipino livelihoods amid escalating Middle East tensions threatening global oil supply chains.