04/06/2026
EARLIER this week, the Department of Energy and the Maharlika Investment Fund announced that they were cooperating on the development of a strategic petroleum reserve for the Philippines. It is an objective that was mentioned early on in the current energy crisis, but until now there has not been any indication of serious work on it. According to the news reports, the project is being supported by technical assistance with Japan, and seeks to establish an “initial” stockpile of 2 million barrels of oil to be managed by the government-owned Philippine National Oil Co.
EARLIER this week, the Department of Energy and the Maharlika Investment Fund announced that they were cooperating on the development of a strategic petroleum reserve for the Philippines. It is an objective that was mentioned early on in the current energy crisis, but until now there has not been an...