Senate President Vicente “Tito” Sotto III has called for the creation of a national petroleum reserve to bolster the country’s energy security and ensure supply stability amid rising geopolitical tensions in the Middle East.
Sotto filed Senate Bill No. 1934, also known as the proposed Philippine Strategic Petroleum Reserve Act, which seeks to establish a government-owned and managed reserve under the Department of Energy (DOE).
The measure mandates maintaining petroleum stocks equivalent to at least 90 days of the country’s average national consumption.
“At present, the country does not maintain a comprehensive, state-managed strategic petroleum reserve capable of cushioning prolonged supply interruptions,” Sotto said.
In his explanatory note, the Senate President highlighted the Philippines’ heavy reliance on imported petroleum products to sustain transportation, agriculture, manufacturing, power generation, logistics, and essential public services.
“This structural dependence exposes the country to external supply shocks arising from geopolitical conflicts, regional instability, maritime disruptions, sanctions regimes, climate-related disasters, and speculative volatility in global oil markets,” he added.
Key Provisions of the Bill:
- Reserve facilities nationwide to store crude oil and refined petroleum products, including diesel, gasoline, jet fuel, liquefied petroleum gas, and other critical energy supplies.
- Emergency release of petroleum stocks authorized by the President, upon recommendation of the Strategic Energy Security Council.
- Release may occur during severe supply disruptions, national emergencies, extraordinary price volatility threatening economic stability, and natural disasters.
Sotto emphasized that preparedness is a responsibility, not an option.
“The establishment of this bill is a forward-looking investment in national stability, economic continuity and sovereign resilience,” he said.