Oil supply enough for 50 days; buffer shipments arriving this month

MANILA, Philippines – The country’s domestic oil supply remains sufficient for about 50 days, with additional buffer stocks set to arrive this month under the government’s procurement program, Department of Energy (DOE) officials said Tuesday. During an online briefing, DOE Undersecretary Sandy Sales said around 900,000 barrels are scheduled for delivery in April, with the first shipment expected this week. He said an initial 300,000 barrels will arrive by April 10 from Malaysia via Singapore, sourced through global commodities firm Vitol. Two more shipments of 300,000 barrels each are expected later in the month, contracted through Vitol and Trafigura and sourced […]... Keep on reading: Oil supply enough for 50 days; buffer shipments arriving this month

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