Asian countries push to expand oil reserves and renewables amid Iran-war supply risks

Reuters, published by The Economic Times, reports that Asian countries are working to expand oil stockpiles and speed up renewables in response to supply risks from the Iran war. The Philippines plans a national oil reserve by the end of 2027. ASEAN members target 30% renewables in primary energy supply and 45% in installed power capacity, and have reached a preliminary agreement on a regional power grid.