Andrea R. Mihailescu: UPI Energy Watch: Eye on China

From United Press International:

Senior officials representing the Association of Southeast Asian Nations (ASEAN) and ASEAN+3 countries are looking to discover new opportunities to increase Asian oil cooperation to ensure their security at two oil forums to be held in March. Vietnam’s Industry Ministry Spokesperson said on Mar. 3: “During the 2nd ASEAN+3 Oil Market Forum and the 3rd ASEAN+3 Oil Stockpiling Forum scheduled to take place in Hanoi on March 14, delegates will center their discussions on joint activities towards setting up an oil stockpiling program for the 13 countries, and developing an Asian oil market in a prosperous and sustainable way. According to a specific capacity of each country, ASEAN+3 members should contribute specific amounts of oil, both crude and refined oil, but mainly crude, to the future program so that they can actively deal with fluctuations in world oil prices.” During the second ASEAN+3 Oil Market Forum, delegates intend to discuss improving oil exploration and production domestically as well as expanding oil stockpiling, developing alternative sources outside of the Middle East, and enhancing dialogue between member states and oil producers in the Middle East. ASEAN countries include: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam; ASEAN+3 member states are China, Japan and Korea.

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