Indonesia, Thailand and the Philippines plan to create ASEAN's first shared oil reserves system by 2027, Nikkei Asia reports. The card-based mechanism will allow countries to have priority access to gasoline and diesel supplies in the event of an emergency. The initiative is being implemented with the support of Japan due to energy instability: currently the oil reserves in the Philippines cover only 15-30 days of local demand, and in Indonesia - between 14 and 23 days.

Indonesia, Thailand and the Philippines plan to create ASEAN's first shared oil reserves system by 2027, Nikkei Asia reports. The card-based mechanism will allow countries to have priority access to gasoline and diesel supplies in the event of an emergency. The initiative is being implemented with the support of Japan due to energy instability: currently the oil reserves in the Philippines cover only 15-30 days of local demand, and in Indonesia - between 14 and 23 days.