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Asia, which consumes almost a third from the world's oil, may boost imports for emergency reserves after prices surged to a record on concerns terrorist attacks may disrupt supply from the Middle East.
An Asian emergency oil reserve, with a capacity of half a billion barrels, would require about $US15 billion ($A21 billion) in investment alone to grow it with oil costing $US30 a barrel,[url=http://duveticaukoutlet.halod.com/][b]Duvetica Jackets UK Outlet Duvetica Down Jackets For Men Store[/b][/url], said Damien Criddle, an attorney at Baker McKenzie in Hong Kong,[url=http://merrellfootwearsizechart.webmium.com/][b]http://merrellfootwearsizechart.webmium.com/[/b][/url], who specialises in oil and gas.
"It's a significant capital undertaking,[url=http://discountmerrellshoes.webmium.com/][b]discount merrell barefoot shoes discount merrell shoes online shop[/b][/url]," he explained. Japan, China and Columbia might help fund the reserve because "it's to their benefit to determine their neighbours stable".
Officials from Japan,[url=http://duveticaukoutlet.halod.com/][b]http://duveticaukoutlet.halod.com/[/b][/url], South Korea and China, and the 10- member Association of SouthEast Asian Nations are holding talks now on increasing stockpiles at meetings in Manila to go over energy security.
The center East accounts for more than 80 percent of Asia's oil imports,[url=http://parajumpersonline.webmium.com/][b]http://parajumpersonline.webmium.com/[/b][/url], according to a Bloomberg survey of 10 traders in the region.
Oil futures in New York rose to $US42.45 a barrel last Wednesday, the greatest price in additional than Two decades, after an attack in Saudi Arabia that targeted oil companies and residential compounds.
Crude oil prices averaging a lot more than $US35 a barrel this season would shave a minimum of 1 percentage point from Asian economic growth,[url=http://rogervivieroutlets.webmium.com/][b]roger vivier discount for Discount[/b][/url], Ong Keng Yong, secretary general of ASEAN said last week.
ASEAN includes Indonesia,[url=http://parajumpersoutletitalia.albirank.net/][b]parajumpers outlet italia parajumpers Parka Piumini online shop abbigliamento[/b][/url], Thailand,[url=http://woolrichjacket.webmium.com/][b]http://woolrichjacket.webmium.com/[/b][/url], Malaysia, Singapore, the Philippines, Brunei,[url=http://parajumpersoutletitalia.albirank.net/][b]http://parajumpersoutletitalia.albirank.net/[/b][/url], Cambodia, Laos, Burma and Vietnam.
Higher oil prices raise costs at businesses reliant on fuels,[url=http://rogervivieroutlets.webmium.com/][b]roger vivier discount for Discount Roger Vivier Shoes Roger Vivier Flats Roger Vivier Sale[/b][/url], such as the airline industry. Jet fuel prices reached $US48.65 a barrel on May 17, the greatest since 1990. The International Air Transport Association said over the weekend that airlines worldwide would lose as much as $US3 billion combined on international routes this year by having an average oil price of $US36 a barrel.
The reserve guarantees supply when the cost of crude is high.
PURNOMO YUSGIANTORO, Indonesian Energy Minister "Against the setting of uncertainty and tensions in certain of the oil-producing countries,[url=http://duveticamen.blogspot.com/][b]http://duveticamen.blogspot.com/[/b][/url], namely in the Middle East, security of oil supplies is becoming more urgent," said Yang Razali Kasim of the Institute of Defence and Strategic Studies in Singapore. "This is particularly so because so many ASEAN members are oil consumers."
The Philippines might build more oil storage tanks in Subic Bay as part of plans by South-East Parts of asia to expand a regional stockpile, Energy Minister Vincent Perez said on Monday. "We're ready to offer the Subic Bay,[url=http://kaufenmonclerjacken.albirank.net/][b]http://kaufenmonclerjacken.albirank.net/[/b][/url], which currently has three million barrels capacity," Mr Perez said. "So far,[url=http://duveticaukoutlet.halod.com/][b]Duvetica Down Jackets For Men Store[/b][/url], Thailand is the most responsive of the routine."
Indonesia is seeking investors to help build a national oil reserve on the island of Lombok,[url=http://woolrichoutletitalia.albirank.net/][b]http://woolrichoutletitalia.albirank.net/[/b][/url], said Energy and Mineral Resources Minister Purnomo Yusgiantoro. "The reserve guarantees supply once the price of crude is high. When price is low we are able to buy crude and merchandise and store it in our reserve for use when price is high," he said.相关的主题文章：

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