Garin: PH may have own oil reserve storage by 2027
The Philippine government plans to construct a national oil reserve storage facility by 2027 or 2028 to mitigate fuel market volatility. The project, estimated to cost P5 billion, is being coordinated with the Maharlika Investment Corp.
Why it matters
Establishing a strategic oil reserve is a critical move for national energy security and economic stability in the face of global supply disruptions.
MANILA, Philippines - The government is looking at building at least one oil reserve storage by next year or the early part of 2028 in a bid to mitigate the effects of severe fuel market shocks and supply disruptions.
The article reports on government policy and legislative hearings in a factual, objective manner.
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