Indonesia, Thailand, Philippines to set up shared oil reserves

Energy Indonesia, Thailand, Philippines to set up shared oil reserves Japan spearheads project after Iran war creates ASEAN energy shortages An Indonesia-based think tank led by Japan's Ministry of Economy, Trade and Industry has spearheaded the effort to established shared oil reserves in Southeast Asia. (Photo by Rie Ishii) RINTO HORIKOSHI and YUKI FUJITA November 12, 2026 11:50 JST TOKYO/MANILA -- Members of the Association of Southeast Asian Nations will create a system for sharing petroleum product stockpiles in emergencies as early as 2027 with support from Japan, which expects the initiative to bolster its own economic security. Read Next Energy Japan-led Asia decarbonization bloc pivots to oil stockpiling measures International relations Japan to help Hormuz-dependent Philippines bolster oil reserves Energy Japan's largest power producer JERA sets up oil storage company Energy Iran war takes Southeast Asia's renewable plans to new heights Policy Asia How Japan and Thailand lay bare Asia's electrification challenge Latest on Energy Energy Fuel prices drive Japan, Europe electricity futures to 4-year high Energy Japan to back Vietnam's small-reactor push in revived nuclear cooperation Energy Japan lender leads $600m credit line to help Malaysia's Petronas cut CO2 Sponsored Content About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.