Manila: The Bureau of Customs (BOC) has established an oil inventory level task force aimed at ensuring accuracy of data gathered on oil importations and inventory levels across ports nationwide in response to the conflict in the Middle East. Customs Commissioner Ariel Nepomuceno directed ports to closely monitor the volume of oil importations and assess the sufficiency of existing fuel supply entering the country.

According to Philippines News Agency, Nepomuceno emphasized the importance of maintaining close oversight of oil importation flows to ensure that 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,' Nepomuceno said in a statement.

Under the directive, district ports are required to submit regular reports on oil importations. The BOC-OIL Task Force is headed by Allen Dela Cruz of the BOC, with Victor Pablo Trinidad of the BOC Legal Service as a member, in collaboration with the Department of Energy and the Bureau of Internal Revenue. Among its tasks include the conduct of joint inspections and oversee the monitoring of oil depots, bulk storage terminals, and other petroleum storage facilities nationwide, authorized to validate the submitted reports through inspection and document review.

Nepomuceno stated that findings and reports would be submitted to the Office of the Commissioner. The conflict, which has reportedly resulted in missile attacks affecting critical infrastructure such as airports and seaports, and the temporary shutdown of the Strait of Hormuz, has raised concerns over possible disruptions in global oil supply chains.