ERIA and IBC Launch Private-Sector Working Group on ASEAN Regional Oil Stockpiling

Jakarta, 3 September 2026: ERIA and the Indonesian Business Council (IBC) held the kick-off meeting of a private-sector working group to explore an ASEAN Joint Regional Oil Stockpiling Pilot Project at the IBC office in Jakarta.

ERIA President Tetsuya Watanabe welcomed representatives from ERIA, IBC, and the private sector, including experts in energy, logistics, infrastructure, engineering, and finance.

The meeting marked an important step in translating ERIA's analytical work on regional oil stockpiling into practical action. President Watanabe noted that recent disruptions and heightened risks around the Strait of Hormuz had underscored the importance of oil security as an integral part of ASEAN's broader economic resilience.

The Working Group will explore a practical pilot concept, business model, and implementation arrangements for regional co-operation on oil stockpiling. Discussions focused on how governments, national oil companies, storage operators, investors, and other private-sector stakeholders can work together to strengthen ASEAN's preparedness for future oil-supply disruptions.

President Watanabe highlighted ERIA's role as a 'think-and-do tank', helping to bridge research, policy, investment, and implementation. He also expressed appreciation to IBC for its close partnership with ERIA in advancing the initiative.

The meeting concluded with participants reaffirming the importance of developing a practical, commercially viable, and scalable approach to regional oil stockpiling that can strengthen ASEAN's energy security and contribute to a more connected, resilient, and secure region.