Indonesia proposes hosting ASEAN oil storage hub to boost regional reserves

AI Summary

Indonesia is proposing to host an ASEAN oil storage hub aiming to strengthen regional reserves. While no agreement on the hub's location has been finalized, collaboration with neighboring countries like Malaysia and the Philippines is anticipated.

Indonesia’s Energy Minister Bahlil Lahadalia said on Monday (May 11) that no agreement has been reached on the hub’s location but it hopes to partner with Malaysia, Brunei and the Philippines to advance the proposal.