ASEAN is moving to ratify the ASEAN Petroleum Security Agreement (APSA) to enable coordinated emergency fuel sharing amid supply disruptions caused by the Strait of Hormuz blockade. The move matters because Southeast Asian economies were the first to feel shortages when the blockade cut off most of their regular crude and fuel supply from the Middle East. Before the war, the Philippines sourced 98% of its oil from the Middle East and declared a national energy emergency in mid‑March. Other members—Indonesia, Malaysia and Vietnam—also faced fuel shortages. Many have turned to alternative suppliers, including Russian oil, which is allowed for unsanctioned sale by the U.S. Treasury until May 16 under a waiver extended by the Trump Administration in April. Roque said the APSA is being pursued to enable coordinated emergency fuel sharing and collective responses to supply disruption. The pact aims to strengthen energy security and resilience to shocks in the region. The Energy Ministers highlighted the importance of supply diversification, including clean and renewable energy transition, broadening sources of crude oil and refined products, and strengthening intra‑ASEAN energy trade. ASEAN will also keep trade policies open and predictable, avoiding bans on essential goods during crises. By formalizing a regional fuel‑sharing framework, ASEAN could reduce the impact of future supply shocks on drilling operations and rig deployments, ensuring a more resilient supply chain for oil and gas projects across Southeast Asia. By Tsvetana Paraskova for Oilprice.com