Department of National Defense (DND) Secretary Gilberto Teodoro Jr. on Tuesday pushed for the creation of strategic oil reserves and accompanying facilities for the military.
This comes in the wake of the ongoing conflict in the Middle East, which is now entering its third week and has so far caused massive spikes in global oil prices.
“Yung supplies natin ng fuel, dapat talaga may reserba tayo na malaki (We must have a large reserve of fuel supplies),” Teodoro said in an ambush interview here when asked what lessons the Philippine security sector has so far learned from the ongoing conflict in between the United States, Israel and Iran.
Teodoro added that stocking up on oil reserves would also mean additional storage facilities.
He clarified that the proposed strategic oil reserves for the military will be different from the existing national inventory for commercial use.
Per earlier reports, Philippine oil reserves for commercial use are good for at least 60 days.
“But for military use, of course, the numbers are different. Pero ang pinaka-importante meron tayong pag-iimbakan (but what is important is that we will have the storage capacity),” Teodoro said.
Likewise, the DND chief said the oil price hikes are still to have an effect on ongoing patrols in the West Philippine Sea and other military operations, as there are fuel reserves for these activities.
“May reserves para doon (there are reserves for that),” he stressed. (PNA)