The Philippines is actively engaging in discussions with several nations, including Saudi Arabia, Russia, the United States, Kuwait, the UAE, and Australia, to establish oil storage facilities within its borders. As a nation heavily reliant on energy imports, the Philippines is looking to hedge against volatile fuel prices exacerbated by recent geopolitical tensions in the Middle East. Energy Secretary Sharon Garin noted that building these strategic stockpiles is a top priority, especially following recent supply chain disruptions. Plans are already underway to construct the country's first government-owned storage tank in Bataan, which will bolster existing national reserves currently holding about 55 days of inventory.

Beyond managing fuel supplies, the government is bracing for the impact of El Niño, which is expected to significantly reduce hydropower and solar energy generation. To ensure the country’s power grid remains stable, authorities plan to ramp up diesel and gas-fired output while integrating 2 gigawatts of new coal-fired capacity over the next five years. While the Philippines remains committed to long-term renewable energy goals, Secretary Garin emphasized that geographical constraints and the urgent need for consistent, affordable power mean that a balanced energy mix is essential for the nation's economic progress and security.