Senator Francis ‘Chiz’ Escudero said Tuesday the upcoming Association of Southeast Asian Nations (ASEAN) Summit offers an opportunity to advance the ASEAN Petroleum Security Agreement, which would allow member states to supply petroleum to neighbors facing shortages.
“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 said in a statement.
Escudero added that oil-producing members, including Brunei, Indonesia, and Malaysia, are expected to anchor the system by providing reserves and production capacity.
He said the initiative aligns with ASEAN’s strategic priorities of peace and security, economic integration, and community empowerment.
“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,” Escudero said.
Meanwhile, Senate leaders expressed support for a proposal to postpone the Philippines’ hosting of the 2026 ASEAN Summit to save over P17 billion.
Senate President Vicente Sotto III said the executive branch could consider delaying or scaling back the summit while Senate President Pro Tempore Panfilo Lacson added that ASEAN neighbors would likely understand a postponed or simplified event.
Senator Imee Marcos, for her part, suggested that simplified meetings could still allow the Philippines to request assistance from countries with oil reserves and production capacity.
The Philippines assumed ASEAN chairmanship vice Myanmar in 2026 with a budget of nearly P17.5 billion previously approved by Congress for summit meetings.
