Lawmaker urges gov’t to build coastal petroleum storage facilities

MANILA, Philippines—The government should establish petroleum storage facilities so that the country can have buffer stocks in times of crisis, a lawmaker said on Sunday. In a statement, House Minority Leader Marcelino “Nonoy” Libanan called on the state-owned Philippine National Oil Co. (PNOC) to invest in coastal petroleum storage facilities. He believes this situation will help shield the country against global supply shocks and oil price hikes caused by the ongoing conflict in the Middle East. “The oil crisis caused by the US-Israeli war on Iran clearly underscores the urgent need for the government, through PNOC, to establish its own […]... Keep on reading: Lawmaker urges gov’t to build coastal petroleum storage facilities

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