Philippines begins talks with Saudi Arabia on strategic oil storage project

Intelligence summary

MANILA: The Philippines has started preliminary talks with Saudi Arabia to build a strategic oil storage facility in the Southeast Asian country, its energy ministry has said, as Manila seeks to secure fuel supply access to safeguard against global disruptions. A global oil shock triggered by the US-Israel attacks on Iran in late February has pushed the Philippines into an energy crisis. The country sources nearly all its oil from the Middle East and Filipino households have had to contend wit