The major roles and functions of the Agency shall be to:

a)            Forecast and determine demand and supply of petroleum products;

b)            Collect procurement requirements of petroleum products from OMCs;

c)            Conduct international competitive bidding for procurement of bulk petroleum products;

d)            Conclude and administer contracts with Suppliers and between the Agency and OMCs;

e)            Relay information related to petroleum business to all relevant parties; and

f)             Coordinate diligent receipt by OMCs of petroleum products from the delivery vessels.