The Philippine National Oil Company (PNOC) is looking for a transaction advisor to help with the government’s planned strategic fuel reserve program.
In a notice released Saturday, PNOC said it is conducting a market scoping to gather information from qualified consulting and advisory firms. The activity is for planning purposes only and is not yet a bidding process or a commitment to hire. Submissions will be accepted until April 30, 2026.
The Department of Energy (DOE) earlier said the proposed fuel reserve program still needs further study due to high costs and timing concerns. It also clarified that such reserves are typically used during supply shortages—not to control or lower fuel prices. The DOE noted that reserves should ideally store crude oil and be replenished when prices are low.
Under existing guidelines issued in 2021, the DOE will oversee the reserve program, while PNOC will handle storage, supply contracts, and distribution systems if the plan moves forward.
Current minimum fuel inventory requirements in the Philippines are set at 15 days for finished products, 30 days for crude oil, and 7 days for liquefied petroleum gas (LPG).
In a separate notice, PNOC also invited interested and qualified parties to purchase part of its incoming LPG supply, which will serve as buffer stock. Letters of interest must be submitted by April 29, 2026.
The DOE said around 21,000 metric tons of LPG sourced from the United States, via Singapore, are expected to arrive late next month. However, officials noted there are no plans yet to procure additional LPG due to limited storage capacity and the current stock not yet being used.
