Senator Escudero pushes for ASEAN fuel-sharing pact amid global oil uncertainty

Senator Francis Escudero is urging the country to lead the advancement of a regional fuel-sharing mechanism during the Philippines' chairmanship of the Association of Southeast Asian Nations (ASEAN) this year.

Escudero said Manila should call for the completion of the ASEAN Petroleum Security Agreement (APSA), the framework modeled after International Energy Agency (IEA) mechanisms.

APSA would allow member states to support one another during petroleum supply disruptions, he said.

“The current volatility in the Middle East highlights the urgency of a regional action, with oil prices rising and supply chains vulnerable. We have to act as one ASEAN,” he said.

“By accelerating APSA’s completion, ASEAN can establish its own mechanism for emergency fuel supply, triggered when a member state experiences a shortfall of at least 10 percent,” he added.

Specifically, the agreement would trigger emergency fuel-sharing if a member state experiences a supply shortfall of at least 10 percent of its domestic needs.

The Senator emphasized that the current volatility in the Middle East and rising oil prices highlight the urgency of regional action.

He noted that the participation of oil-producing member states, such as Brunei Darussalam, Indonesia, and Malaysia, is crucial to ensuring that emergency supplies are effectively pooled and delivered.

“Their role is crucial in anchoring the agreement. By pooling resources, ASEAN can ensure that emergency supplies are not only pledged but delivered when needed,” he said. “Fuel-sharing is not only about barrels of oil. It is also about trust, reciprocity, and the assurance that no member state will be left behind.”

By prioritizing the APSA, the Philippines has the opportunity to lead ASEAN toward greater energy resilience and economic stability, shielding the region from external shocks through solidarity and shared purpose.

He added that the proposed framework aligns with ASEAN’s priority pillars of Peace and Security Anchors, Prosperity Corridors, and People Empowerment, which focus on resilience, economic integration, and regional solidarity.

“This is our chance to lead ASEAN toward energy resilience. By working together, we can shield our region from external shocks and truly embody the theme of this year’s summit, ‘Navigating Our Future, Together,’ with solidarity and shared purpose,” he said.

-Paraluman News