The Philippine government has finalized procurement agreements for one million barrels of diesel through the Philippine National Oil Company Exploration Corp., covering roughly five days of the country’s total consumption.
The contracted volume — equivalent to 165.67 million liters — forms part of a broader government target to acquire two million barrels of diesel under a procurement program valued at approximately P20 billion.
DOE Secretary Sharon Garin said the additional supply would be passed on to local fuel retailers at cost, meaning the government does not intend to profit from the arrangement.
The identity of the contracted suppliers was not disclosed by the Department of Energy. Earlier, however, energy officials had indicated the government was casting a wide net in its search for providers — looking beyond Southeast Asia to include Japan, Canada, and the United States as potential sources.
The latest contracts come after the country received its first delivery of government-procured diesel earlier this week, a shipment carrying 142,000 barrels, or 22.57 million liters. The newly secured volumes are expected to arrive in the Philippines within the coming weeks.
