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Shell updates contingency measures to ensure stable oil supply

Pilipinas Shell Petroleum Corporation (PSPC) announced today that it is currently reviewing and updating its business continuity plan, in view of the increasingly volatile geo-political situation in the Middle East, particularly in Libya, Africa’s most oil rich nation.

As the Philippines is a net importer of oil, we remain highly vulnerable to developments in the oil producing countries.

“Due to the ongoing tension in the Middle East, we have tasked our businesses to ensure that contingency plans are kept updated to ensure continued delivery to meet our customers’ needs,” says Roberto Kanapi, PSPC Vice President for Communications.

PSPC’s existing supply structure, including management of supply contracts provides the company a considerable degree of flexibility to ensure supply continuity. However, PSPC seeks to ensure that contingency plans are in place to prepare in the event that the country faces an emergency situation. Part of its mitigation measures include maintenance of minimum product inventories, as required by the Department of Energy and securing assurances from its existing suppliers to ensure an equitable allocation of petroleum products.

“As we continuously support government’s efforts to ensure oil supply security, we also encourage the public to join in our advocacy for efficient energy management. There are various ways by which we may contribute towards this end, including energy conservation, use of fuel economy products, and smart driving behaviours which help optimize fuel economy,” Kanapi adds.