Philippines in talks with 3 Arab states to store oil on its territory

[Attaqa] The Philippines is negotiating with three Arab countries to establish oil stockpiles on its territory, according to Attaqa, in a move aimed at strengthening the country's oil storage capacity and protecting energy supplies from global market disruptions. The report said the effort comes amid the fallout from the Iran war, higher fuel prices and concerns that the Asian nation's power sector could come under pressure.