SEN. Francis Escudero on Tuesday urged the Philippines to take a leading role in advancing a regional fuel-sharing mechanism as it chairs the Association of Southeast Asian Nations (Asean) this year, citing rising global oil volatility and supply chain risks.
In a statement, Escudero said that Manila plays a critical role in speeding up the finalization of the Asean Petroleum Security Agreement (APSA). This proposed framework aims to promote mutual assistance among member states during times of fuel shortages.
The APSA seeks to establish an emergency petroleum-sharing system triggered when a member country faces a supply deficit of at least 10 percent of its domestic requirements.
Under the arrangement, neighboring states would provide fuel support to stabilize supply and prevent economic disruption.
The senator emphasized that the mechanism is designed to strengthen Asean’s collective resilience, particularly as geopolitical tensions, especially in the Middle East, continue to drive oil price increases and threaten global supply routes.
“The current volatility highlights the urgency of regional action. We have to act as one Asean,” Escudero said.
Escudero noted that APSA is patterned after the system used by the International Energy Agency, which coordinates emergency oil-sharing among its member countries during supply crises.
By adopting a similar structure, Asean would institutionalize cooperation in times of energy shocks, ensuring that member states can respond swiftly and collectively.
“By accelerating APSA’s completion, Asean can establish its own mechanism for emergency fuel supply,” he said.
Key role of energy-producing members
The senator said that the success of the agreement would depend heavily on the participation of oil-producing countries within the bloc, including Brunei Darussalam, Indonesia and Malaysia.
“These countries play a crucial role in anchoring the agreement,” Escudero said. “By pooling resources, Asean can ensure that emergency supplies are not only pledged but delivered when needed.” He added that beyond logistics, the initiative is also about reinforcing trust and reciprocity among member states.
“Fuel-sharing is not only about barrels of oil. It is also about the assurance that no member state will be left behind,” he said.
Escudero said the APSA supports Asean’s broader strategic pillars — peace and security, economic prosperity, and people empowerment — by promoting stability and cooperation across the region.
The Philippines’ chairmanship, he added, presents both a responsibility and an opportunity to drive the initiative forward.
“This is our chance to lead Asean toward energy resilience,” Escudero said.
Fast-tracking APSA, he added, would be a concrete step toward shielding Asean economies from volatility, ensuring stability in fuel supply, and reinforcing the bloc’s capacity to respond to future crises.
