Oil Stockpiling in Southeast Asia
On the 16-17 June 2010, International Energy Agency (IEA) conducted a joint workshop with Ministry of Energy and Mineral Resources (MEMR) of Indonesia in Jakarta, Indonesia. The theme of the workshop is “Establishing policy, legislation, structures and procedures for national emergency preparedness”.
I attended this workshop as one of the speaker, along with the experts from IEA and Industry. I presented about the Development of Oil Stockpiling Roadmap for ASEAN+3.
ASEAN+3 recognized the necessity of oil stockpiling initiatives in thelight of persistent risks of supply disruptions and highly volatile oilmarket. To facilitate and encourage all member states to further improve oilstockpiling initiatives, considering prevailing high prices, volatility inthe international oil markets and risks of supply disruptions, the ministers of ASEAN+3 welcomed the activities for the development of the Oil Stockpiling Roadmap.
All ASEAN+3 Countries had achieved a common understanding on the needs and benefit of Oil Stockpiling Roadmap development, as well as on major issues to be considered in building up OSRM in each country having consideration the fact, ASEAN+3 will become net importer of oil and more dependency on oil product innear future. Due to differences of economic situation and the need of OSRM ofeach country, it is not possible to make Detail Oil Stockpiling Roadmap with a concrete targets for ASEAN+3 countries at this moment as ASEAN+3 desired.
- Indonesia Approves Limits on Subsidized Fuel Sales (businessweek.com)
- IEA Raises 2010 Global Oil Demand Outlook, Maintains 2011 View (dailyfinance.com)