The government is looking at importing 240 million liters of diesel from Russia through a government-to-government deal, Energy Undersecretary Felix William Fuentebella said on Thursday.
He said the diesel import was part of the government’s stockpiling strategy.
“We don’t have that level of energy security yet,” Fuentebella said in a press briefing in Malacañang.
The diesel to be imported from Russia is only good for three days’ consumption and will be released to the market only when oil supply declines, he said.
Aside from Russia, Thailand is also a possible source of imported oil, Fuentebella said.
The Philippine National Oil Company will prepare storage facilities for Russian diesel in Subic, Zambales, he said.—CHRISTINE O. AVENDAÑO
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