Oil firms told to stock up, step up imports

MANILA, Philippines?The government ordered oil firms to ramp up imports and stocks amid growing concern about potential supply disruption due to unrest in the Middle East and North Africa. The Department of Energy (DoE) said it had already issued a circular, compelling oil companies to step up imports and maintain a minimum inventory sufficient for 15 days. ‘The Philippines needs to be resilient in light of these events,’ Energy Secretary Jose Rene Almendras said in a statement. He said the country’s…

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Oil firms told to stock up, step up imports