The core functions of the Agency shall be to:

1. Forecast and determine demand and supply of petroleum products;
2. Collect procurement requirements of petroleum products from OMCs;
3. Conduct international competitive bidding for procurement of bulk petroleum products
4. Conclude and administer contracts with Suppliers and between the Agency and OMCs;
5. Relay information related to petroleum business to all relevant parties; and
6. Coordinate diligent receipt by OMCs of petroleum products from the delivery vessels.