Crisis-Hit Southeast Asia Looks to Sign Petroleum Security Pact

The Association of Southeast Asian Nations (ASEAN) looks to ratify a petroleum security agreement, Philippine Trade Secretary Cristina Roque said on Thursday as Asian nations are reeling from the shock oil supply crisis amid the Middle East war.

“APSA, ‌or the ASEAN Petroleum Security Agreement, is being pursued to enable coordinated emergency fuel sharing and collective responses to supply disruption,” Roque said during an online briefing, as carried by Reuters.