ASEAN Mulls Sharing Fuel, Food Resources as Fears of Prolonged Disruptions Grow

ASEAN studying regional fuel reserve system amid global supply threats

LAPU-LAPU CITY, Cebu — The leaders of the Association of Southeast Asian Nations (ASEAN) are exploring the creation of a regional fuel reserve system to strengthen energy security and cushion member-states from future supply disruptions caused by wars and geopolitical tensions, President Marcos said.Speaking during a press conference after the 48th ASEAN Summit here, Marcos said the proposed mechanism would function similarly to ASEAN’s emergenc…

Marcos floats possible fuel reserve for emergency supply among ASEAN countries

President Ferdinand “Bongbong” Marcos Jr. on Friday said that member states of the Association of Southeast Asian Nations (ASEAN) are planning to put up a fuel reservoir that the region could use in times of emergency.

ASEAN mulls sharing fuel, food resources as fears of prolonged disruptions grow

Leaders proposed a regional fuel stockpile and a standby arrangement for food security at the 48th ASEAN Summit on Friday (May 8).

Asean may start oil reserve scheme with select countries, says investment, trade and industry minister

CEBU, May 7 — Asean may consider bringing in the private sector to help realise the newly-mooted oil stockpiling framework aimed at strengthening the region’s long-term energy security and preparedness.Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani said the idea for the oil stockpiling framework was raised during one of the Asean meetings he attended here today.“I do not think that the government (itself) can execute this.…

Malaysia not selling oil to Asean members as it still imports 400,000 barrels daily, says minister

Facebook Twitter LinkedIn Threads WhatsApp Telegram Johari assures that the Malaysian government is currently still able to maintain the RON95 petrol price at RM1.99 per litre. – Bernama photo CEBU, PHILIPPINES (May 7): Malaysia does not sell oil to other Asean member states as the country is still importing about 400,000 barrels of crude oil per day, said Investment, Trade and Industry Minister Datuk Seri Johari Abdul Ghani. He said although Ma…