The Bureau of Customs has ordered all ports to intensify monitoring of oil importations and inventory levels in response to the ongoing conflict in the Middle East.
The conflict, which has reportedly resulted in missile attacks affecting critical infrastructure such as airports and seaports, as well as the temporary shutdown of the Strait of Hormuz, has raised concerns over possible disruptions in global oil supply chains.
BOC Commissioner Ariel Nepomuceno has directed all ports to closely monitor the volume of oil importations and assess the sufficiency of existing fuel supply entering the country.
Nepomuceno emphasized the importance of maintaining close oversight of oil importation flows to ensure government authorities have timely and accurate information amid the evolving global situation.
“Given the current geopolitical developments, it is important for the Bureau to closely track the movement of oil importations and monitor available inventory levels. This will allow us to provide relevant updates to the administration and help ensure that the country remains prepared for any potential supply disruptions,” he said.
The BOC has directed all district ports to submit regular reports on oil importations within their respective jurisdictions. These reports will be consolidated and presented during the agency’s weekly collection meetings to provide the Commissioner with updated information on incoming shipments and prevailing supply levels.
To strengthen coordination and ensure accuracy of all data gathered, the BOC has created a task force that will conduct joint inspections and oversee the monitoring of oil depots, bulk storage terminals and other petroleum storage facilities nationwide.
To ensure the accuracy and reliability of the data reported by district ports, the task force has also been authorized to validate submitted reports through inspections and document reviews.
The task force may likewise request the regular submission of material information from industry stakeholders necessary to support the monitoring initiative and may recommend the issuance of summons when warranted to ensure compliance.
All findings and reports generated under the monitoring effort will be submitted to the Office of the Commissioner to provide timely situational updates and inform necessary policy or operational responses.
The BOC emphasized that the proactive monitoring measure reflects the agency’s commitment to supporting national economic stability by ensuring transparency in the country’s oil importation and supply situation amid evolving global conditions.
The bureau also directed its enforcement group to extend full cooperation and deploy the necessary personnel to support the implementation of the initiative.