The Marcos administration has secured commitments from five nations to bolster its fuel inventory, with the Department of Energy (DOE) preparing to import more than one million barrels of diesel this April to shield the economy from global market volatility.

In a briefing late Monday, March 30, Energy Secretary Sharon Garin announced that the government, through the Philippine National Oil Co.-Exploration Corp. (PNOC-EC), finalized a procurement schedule to manage supply amid heightened geopolitical tensions in the Middle East.

The strategy, according to Garin, involves a staggered delivery of 900,000 barrels of diesel throughout the month, supplementing an initial shipment of 142,000 barrels that arrived from Japan last week.

The DOE official explained that the delivery timeline is divided into three tranches to maintain consistent flow into domestic depots.

An initial 300,000 barrels from Malaysia and Singapore are expected by early April, followed by an equivalent volume from North Asia and India by mid-month.

A final shipment of 300,000 barrels from Oman and Singapore is slated for the end of the month.

Once completed, the total influx of 1.042 million barrels will effectively extend the Philippines’ diesel supply buffer to nearly 47 days.

The procurement follows President Marcos’ declaration of a national energy emergency on March 24. As of March 27, the country maintained an overall fuel supply equivalent to 50.94 days of consumption.

Kerosene remains the largest component of the national inventory at 107.88 days, while gasoline and jet fuel stocks stand at approximately 60 days and 63 days, respectively.

Fuel oil and liquefied petroleum gas (LPG), meanwhile, are the leanest segments of the stockpile, with 57 and 34 days of supply remaining, respectively.

Garin said that the scheduled arrivals are a deliberate measure to reinforce domestic supply and support critical industrial sectors.

She added that the DOE is also exploring additional procurement deals with private refineries in China and is coordinating with the Chinese embassy to mitigate potential shipment delays.

Supply from Russia is also expected to increase despite ongoing international sanctions.

The Oil Industry Management Bureau confirmed that Petron Corp., the country’s sole refiner, is scheduled to receive roughly three million barrels of Russian crude next week, with another 1.9 million barrels arriving the week after.

Garin indicated that the United States (US)has provided a window for the Philippines to proceed with these transactions to ensure national energy resilience.

The state-driven imports are part of a broader ₱20 billion allocation from the Malampaya gas fund approved by the Department of Budget and Management (DBM).

The funds are intended to stabilize prices and prevent shortages as diesel costs in some regions have surged past ₱130 pesos per liter.

Earlier, Malacañang said the current measures should ensure sufficient crude oil supply through at least June 30.