ASEAN Countries Formulate Establishment of Oil Storage Centre

Jakarta, CNBC Indonesia - The Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, has disclosed that Southeast Asian countries are formulating the establishment of a centre for storing oil reserves, or a storage hub, for the ASEAN region.

This was stated by Bahlil following discussions at the ASEAN Summit in the Philippines. According to him, ASEAN countries have agreed to strengthen regional cooperation, particularly in the energy sector, amid current global geopolitical uncertainties.

“Because, in conditions like this geopolitically, almost all countries, almost all regions, are thinking about how to protect their internal national interests and internal regional interests,” Bahlil said when met at the Ministry of ESDM on Monday (11/5/2026).

Bahlil explained that one of the ideas being formulated is the construction of an oil reserve storage centre for the ASEAN region through cooperation between Indonesia, Malaysia, Brunei Darussalam, and the Philippines.

Furthermore, he added that Indonesia itself has offered to be the location for building that storage facility. According to him, the facility could become a central energy reserve that supplies the needs of Southeast Asian countries.

“Well, this is a good idea. We will build storage wherever, but yesterday I offered it to be in Indonesia. We will build a sufficiently large reserve which in the end will supply the countries in Southeast Asia. That’s one,” he said.