Philippines seeks to build govt oil stockpile
The Philippines plans to try to build a government oil stockpile to defend against the type of shock that hit the import-dependent nation due to the Mideast war, the country's energy minister said Monday. Energy Secretary Sharon Garin said a government-run national stockpile would aim to add at least 30 days' worth of stocks of petroleum products to the 30-60 day reserves that the government mandates for local oil companies.
The Philippines plans to try to build a government oil stockpile to defend against the type of shock that hit the import-dependent nation due to the Mideast war, the country's energy minister said Monday. Energy Secretary Sharon Garin said a government-run national stockpile would aim to add at least 30 days' worth of stocks of petroleum products to the 30-60 day reserves that the government mandates for local oil companies.
