Is Taiwan at High Risk of Oil Shortage? Ministry of Economic Affairs: Oil and Gas Reserves Are Sufficient, Supply Is Secure
Taiwan's Ministry of Economic Affairs announced that domestic oil and gas reserves are above legal standards, ensuring a secure supply, in response to concerns about potential oil shortages due to the Iran situation. An emergency response mechanism has been activated.
📋 Article Processing Timeline
- 📰 Published: May 5, 2026 at 21:21
- 🔍 Collected: May 5, 2026 at 21:31 (10 min after Published)
- 🤖 AI Analyzed: May 5, 2026 at 22:50 (1h 18m after Collected)
Central News Agency
(Central News Agency reporter Tseng Yun-ting, Taipei, May 5) In response to foreign media reports indicating that global crude oil and refined product inventories are accelerating their decline due to the Iran war, and singling out Taiwan as facing a higher risk of oil shortage, the Ministry of Economic Affairs stated today that the government activated an emergency response mechanism immediately after the Middle East conflict began. Currently, domestic oil and gas reserves are all above legal standards, ensuring a secure supply.
The Ministry of Economic Affairs explained that since the escalation of the Middle East situation, daily emergency response meetings have been held to continuously monitor domestic oil reserves in days and international market dynamics, to ensure the stable supply of domestic oil and gas.
Regarding inventory, the Ministry of Economic Affairs pointed out that current domestic oil and gas reserve days are all above legal standards, with petroleum required to reach 90 days and natural gas 11 days, indicating overall stable supply.
In addition, in response to the potential impact on transportation due to a possible blockade of the Strait of Hormuz, the Ministry of Economic Affairs stated that domestic oil companies have comprehensively reviewed affected vessel schedules and adjusted shipping times. Alternative sources have been found for oil and gas vessels affected in the short term, and emergency spot purchases of oil and gas are continuously being made.
The Ministry of Economic Affairs emphasized that since the conflict began, domestic oil and gas reserves have consistently been maintained above regulatory requirements, and prices have remained stable. Furthermore, winter storage and transportation plans will be prepared in advance to ensure stable oil and gas supply. (Editor: Pan Yi-ching) 1150505
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(Central News Agency reporter Tseng Yun-ting, Taipei, May 5) In response to foreign media reports indicating that global crude oil and refined product inventories are accelerating their decline due to the Iran war, and singling out Taiwan as facing a higher risk of oil shortage, the Ministry of Economic Affairs stated today that the government activated an emergency response mechanism immediately after the Middle East conflict began. Currently, domestic oil and gas reserves are all above legal standards, ensuring a secure supply.
The Ministry of Economic Affairs explained that since the escalation of the Middle East situation, daily emergency response meetings have been held to continuously monitor domestic oil reserves in days and international market dynamics, to ensure the stable supply of domestic oil and gas.
Regarding inventory, the Ministry of Economic Affairs pointed out that current domestic oil and gas reserve days are all above legal standards, with petroleum required to reach 90 days and natural gas 11 days, indicating overall stable supply.
In addition, in response to the potential impact on transportation due to a possible blockade of the Strait of Hormuz, the Ministry of Economic Affairs stated that domestic oil companies have comprehensively reviewed affected vessel schedules and adjusted shipping times. Alternative sources have been found for oil and gas vessels affected in the short term, and emergency spot purchases of oil and gas are continuously being made.
The Ministry of Economic Affairs emphasized that since the conflict began, domestic oil and gas reserves have consistently been maintained above regulatory requirements, and prices have remained stable. Furthermore, winter storage and transportation plans will be prepared in advance to ensure stable oil and gas supply. (Editor: Pan Yi-ching) 1150505
Choose to stand with facts; every sponsorship you provide is a force to protect press freedom.
Download the Central News Agency's "First-hand News" APP to stay updated with the latest news.
The text, images, and videos on this website may not be reproduced, publicly broadcast, publicly transmitted, or utilized without authorization.