MANILA, Philippines — Senator Francis Escudero introduced Senate Bill No. 1993 on Wednesday, March 18, proposing the establishment of a government-run National Strategic Fuel Reserve system in Limay, Bataan, to bolster energy security and shield the country from global oil supply disruptions.
The proposed infrastructure is intended to hold a supply equivalent to 90 to 180 days of national consumption, acting as a buffer to stabilize the market and soften price shocks. Regarding the choice of location, Escudero noted, “The area’s deep-water port and proximity to the country’s only refinery make it a practical site.”
The proposed measure tasks the Department of Energy, working with the Philippine National Oil Company, to manage the facility’s construction and daily operations, including the procurement and distribution of the fuel.
The legislation also includes a Targeted Fuel Relief Program. This initiative would provide fuel vouchers or cash assistance to vulnerable sectors—such as transport workers, farmers, fisherfolk, and small business owners—during periods of supply instability or high prices.
“A strategic crude oil stockpile is our shield,” Escudero stated. He emphasized that the reserve would act as a stabilizing tool during crises, enabling the government to inject fuel into the market during extreme price spikes or shortages.
“We must catch up,” he added.
If passed, the bill would authorize an initial ₱60-B for the facility’s construction and mandate the maintenance of these reserves to protect long-term supply stability.| (PNA)
