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Global Business News

The Economic Times

Global Business / The Economic Times

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Asia races to stockpile oil, speed up renewables in response to Iran war

Amid the uncertainties triggered by the Iran war, Asian countries are stepping up their oil storage frameworks. The Philippines is on a mission to establish a national oil reserve by 2027, promoting regional unity. ASEAN intends to achieve 30% of renewables in its primary energy mix and 45% in capacity.

8 Oct 2026 9:13 pm