Hanoi, March 24 -- Philippine Senate President Francis Escudero on March 24 highlighted that the Philippines' chairmanship of the Association of Southeast Asian Nations (ASEAN) this year offers a key opportunity to promote a regional fuel-sharing mechanism, as global oil supplies face increasing uncertainty.

Escudero urged the government to push for the completion of the ASEAN Petroleum Security Agreement (APSA), a proposed framework that would allow member states to supply petroleum to neighbours facing at least a 10% shortfall in domestic fuel needs.

The senator said the Philippines is in a "pivotal position" to lead efforts toward strengthening regional energy security as oil prices remain volatile due to ongoing geopolitical tension...