Joseph Cotterill
speaker
28 appearances
1 recordings
1 series
first heard Jul 2026
last heard 27 Jul
Joseph Cotterill’s voice in public audio — every appearance, attributed to the second.
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recordings per month · last 12 monthsRecordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.
Appearances
Countries from South Africa to India to Pakistan to the Philippines are, in some cases, for the very first time, thinking of acquiring these reserves or expanding what they have.
Hi there.
It's important to remember, firstly, that advanced economies have had these strategic fuel reserves ever since the oil shock of the 1970s, and they have used them in this crisis.
However, many developing countries have not had these reserves before, have not faced an oil shock of this magnitude before.
So that's why countries from South Africa to India to Pakistan to the Philippines are, in some cases, for the very first time, thinking of acquiring these reserves or expanding what they have.
South Africa, for example, has recently published a plan to expand its reserves for the first time in its democracy.
So this is going back decades.
India, which already had a system of national stockpiles, has also released some plans for its largest oil and gas producer to augment some storage and also to work with
the Abu Dhabi National Oil Company to expand storage as well.
Many of these plans will be long term.
Firstly, it's expensive.
to build the infrastructure, the storage tanks, pipelines, and so on.
And it's also expensive to buy the fuel and oil once that is in place.
If you don't have refining capacity, you don't have the ability to turn crude reserves very quickly into jet fuel, petrol, and diesel.
So it will take years to put in place the necessary infrastructure and to build up reserves.
However, lots of countries do have storage that could be leased at short notice.
So plenty of policymakers will be reviewing those plans.
And again, the countries considering these reserves are pretty much the countries that were facing serious shortages.
So if that is faring up again, those countries will be looking to low supplies.
We have not gone back yet to the scenes we saw in March and April queues outside petrol stations.
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