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ASEAN to launch joint oil product stockpiling scheme as early as 2027, Nikkei reports
TOKYO: ASEAN countries will launch a joint oil product stockpiling scheme as early as 2027, with storage sites planned in Indonesia and Thailand, to allow member states to share supplies during emergencies, the Nikkei business daily reported on Thursday. The scheme will initially enable the Philippines to buy diesel and gasoline stored in Indonesia and Thailand during emergencies. Companies affiliated with Philippine state oil firm PNOC are expected to sign letters of intent with tank operators in the two countries on Saturday. The scheme will introduce a “ticket” system, under which participa...
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