AsianOil - Asia Oil & Gas
Vietnam fuel prices climb again despite stabilisation fund intervention
Fuel prices in Vietnam rose again on March 11, despite the government drawing on its fuel price stabilisation fund to soften the impact of global oil market turmoil.
Cambodia Spends $606mn on fuel imports in early 2026
Cambodia’s spending on imported fuels and oils dropped sharply in early 2026, reflecting both market adjustments and growing domestic energy capacity.
Vietnam promotes EV shift as fuel prices surge
Vietnam’s largest private conglomerate has launched incentives to encourage drivers to switch to electric vehicles as global fuel prices remain volatile.
Myanmar residents burned during cross-border fuel transfers
Two people were injured in separate fire incidents linked to fuel shortages in the Myanmar border town of Myawaddy, rescue workers said.
Thailand arrests Myanmar national amid fuel export ban
Thai authorities have arrested a Myanmar national suspected of attempting to smuggle diesel across the border, days after Thailand imposed a temporary fuel export ban amid turmoil in global energy markets
Vietnam weighs zero fuel tax amid Middle East tensions
Vietnam is weighing a temporary cut of the environmental protection tax on fuel to zero percent as it seeks to secure supplies and shield the domestic market from escalating tensions in the Middle East
Japan to release oil reserves to counter supply risks
Japan plans to begin releasing oil reserves as early as March 16 in an effort to contain a potential surge in petrol and other petroleum prices brought about by the conflict in the Middle East.
Asia confronts energy price shock
Asian governments are working out how to tackle a sharp rise in energy prices and growing concerns about energy security across the continent, in the process prompting a range of policy responses.
Kazakhstan-China Pipeline marks two operational milestones
Kazakhstan–China Pipeline, a JV between KazTransOil and China National Oil and Gas Exploration and Development Company, has reported operational milestones for two key oil pipelines linking Kazakhstan with China, KazTransOil has announced.
Malaysia’s oil windfall faces inflation risks as crude prices surge
Malaysia could benefit from stronger export earnings and increased government revenue as global oil prices surge, although economists warn that the gains may be offset by rising inflation and higher costs for households and businesses
Middle East war sends shockwaves through Asian plastics market
Industry participants are already hurting by way of feedstock markets, particularly naphtha and liquefied petroleum gas, which combine to underpin much of Asia’s plastics production.
Pakistan cuts government spending, shifts to four-day workweek to tackle energy crisis
Pakistan has introduced a series of administrative and financial measures to manage economic pressure caused by the energy shortage linked to the Middle East conflict.
Commercial LPG shortage hits hotels and restaurants in major Indian cities
Hotel and restaurant associations in Bengaluru, Chennai and Mumbai have warned of disruptions to food services as a shortage of commercial liquefied petroleum gas (LPG) cylinders begins to affect the hospitality sector.
Bangladesh orders universities shut early to save power amid energy crunch
Bangladesh has ordered all public and private universities to close from Monday by advancing the Eid al-Fitr holidays as part of emergency steps to reduce electricity and fuel consumption during a deepening energy crisis.
Philippine businesses call for action on energy crisis
The Philippine Chamber of Commerce and Industry (PCCI), the nation’s largest business advocacy group, has urged President Marcos to be granted emergency powers to stabilise energy costs.
Vietnam pushes biofuel expansion as global oil prices rise
Vietnam is being urged to speed up its transition to biofuel blends as rising global oil prices and geopolitical tensions raise concerns over energy security.
Vietnam aviation warns of potential fuel shortage
Vietnam’s aviation sector is bracing for possible jet fuel shortages as escalating tensions in the Middle East drive up prices and disrupt global supply.
Myanmar imports fuel as government urges calm buying
Myanmar is moving to stabilise its fuel supply, with more oil tankers expected to arrive as authorities warn against panic buying.
Thailand considers 10pm petrol station closures to save fuel
Thailand is considering closing petrol stations earlier and expanding remote work to cut fuel consumption as global energy prices surge.
Thailand seeks fuel savings through remote working measures
Thailand has instructed state agencies to adopt remote working to curb fuel consumption as global oil prices surge.
Vietnam advises remote work as fuel prices surge
Vietnam has urged companies to adopt remote working to cut fuel consumption as global energy supplies tighten following the conflict involving Iran.
Cambodia orders transparency in fuel sales, stock disclosure
Cambodia has tightened regulations on fuel pricing, stock disclosure and sales transparency following a sudden KHR550 ($0.12) per-litre increase in petrol prices that triggered panic buying across Phnom Penh.
Gasoline and diesel prices increased from March 11 to 13 in Cambodia
Fuel prices in Cambodia will rise slightly from March 11 to 13, despite continued government subsidies.
Taiwan secures natural gas supplies through April
Taiwan’s natural gas supply is expected to be sufficient through April, after the country secured almost all shipments needed to replenish inventories.
Indonesia considers fast-tracking ethanol blending in fuel
Indonesia is considering speeding up the introduction of ethanol-blended petrol after global crude prices climbed above $118 per barrel, according to Energy and Mineral Resources Minister Bahlil Lahadalia
Malaysia pledges to maintain fuel price at $0.50 despite raising global prices
Malaysia will strive to keep the price of RON95 petrol at MYR1.99 per litre, equivalent to about $0.50, despite rising global crude prices triggered by escalating tensions in the Middle East, Prime Minister Anwar Ibrahim said on March 9
Energy strikes raise the prospect of higher fuel costs in Singapore
A fresh escalation in the Middle East conflict that is now targeting key oil and gas infrastructure is likely to push petrol prices higher in Singapore after fuel costs already increased last week
COMMENT: Oil at or above $100 per barrel threatens Indonesia’s Eid spending
Indonesia is heading towards the end of Ramadan, and Eid this year, under a massive cloud of economic stress.
Sri Lanka raises fuel prices as global oil prices surge
Sri Lanka has increased retail prices of petrol and diesel with effect from midnight on March 10, the Ceylon Petroleum Corporation announced, as global crude prices surged following US-Israeli attacks on Iran.
India asks refineries to boost LPG output amid Middle East tensions
India’s Ministry of Petroleum and Natural Gas has directed oil refineries to increase liquefied petroleum gas (LPG) production amid concerns over supply disruptions linked to the ongoing conflict in the Middle East.
G7 weighs coordinated oil reserve release on back of price surge
Finance ministers from the Group of Seven nations have discussed a possible coordinated release of oil reserves. The discussion was held as part of an online meeting on March 9 and also involved the International Energy Agency.
Indian equities tumble after inflation fears
Diesel shortage hits garment output in Bangladesh
Garment factories in Gazipur, a key industrial hub in Bangladesh, are struggling to maintain full production as a diesel shortage disrupts generator operations.
Vietnam considers fuel duty cuts amid Middle East conflict
Vietnam is weighing the temporary removal of fuel import duties as the Middle East conflict disrupts global supplies and pushes oil prices to their highest levels in years.
Thailand seeks cheaper fuel for remote petrol stations
Thailand’s Energy Ministry plans to streamline the fuel supply chain by allowing remote petrol stations to buy diesel directly from major suppliers, aiming to reduce high regional prices.
Vietnam plans letting fuel companies adjust retail prices
Vietnam’s government is considering allowing fuel companies to set their own retail prices, under a proposal aimed at giving businesses greater flexibility while maintaining oversight of the market.
Oil surges past $100, Thailand prepares response measures
Thailand will hold an urgent energy meeting after global oil prices surged past $100 a barrel, raising concerns over rising living costs and business expenses.
Myanmar residents struggle as fuel supplies run low
Fuel shortages are spreading across southern Myanmar despite the military government’s claim that the country has enough supplies to last around 40 days.
Fuel price hike sparks economic concerns in Cambodia
A sudden increase in fuel prices has triggered panic buying and driven up transport and service costs in Cambodia, raising concerns about a wider economic impact.
Oil price spike at over $100 per barrel as market faces possibly worst crisis in history
Brent was trading at over $108 per barrel as of 06:30 GMT today, up from the early $70s prior to the US and Israel launch of strikes against Iran on February 28.
Philippine palace seeks emergency powers to cut fuel tax
The Philippine presidency is preparing to submit a formal appeal to the legislature to provide President Marcos with extraordinary authority to slash fuel duties.
Indonesia warns of possible subsidised fuel price rise
Indonesia may be forced to raise subsidised fuel prices should the global oil prices keep rising and exceed the state budget’s capacity to absorb the additional costs, according to Finance Minister Purbaya Yudhi Sadewa
Indonesia opens 10 new oil and gas blocks to global investors
The Ministry of Energy and Mineral Resources (ESDM) of Indonesia has formally launched 10 new high-potential oil and gas blocks, making them available to international investors as part of a broader effort to revitalise Indonesia’s upstream energy
Japan weighs release of national oil reserves
The Japanese government is understood to be considering tapping its national oil reserves to prepare for potential prolonged supply disruptions as the US-Israeli conflict with Iran drags on.
Asia’s energy reserves under pressure as ‘2026 energy shock’ takes hold
The closure of the Strait of Hormuz has thrown a harsh spotlight on a simple but decisive question for Asian governments: how long their energy reserves can last as part of the 2026 energy shock
South Korea prepares strategic oil release as tensions rise
South Korea is formalising emergency measures to release crude and petroleum products from its strategic reserves as escalating Middle East tensions threaten global energy flows.
India raises LPG cylinder prices
India has raised the prices of domestic and commercial liquefied petroleum gas (LPG) cylinders from March 7.
Pakistan fuel price hike raises inflation and growth concerns
Pakistan’s economy is expected to face renewed pressure following a sharp increase in fuel prices of more than 20%.
Cambodia confirms stable fuel supply despite price rise
Cambodia continues to maintain a stable fuel supply despite recent increases in global oil prices and concerns about possible shortages, according to Minister of Mines and Energy Keo Rottanak.
Laos inspects petrol stations after panic fuel purchasing
Authorities in Vientiane and other provinces are conducting inspections of fuel storage levels at petrol stations following panic buying triggered by concerns over Middle East tensions affecting global energy supplies.
Vietnam transport sector hit hard by fuel surge
"Now it's business, not friendship." Russia ends discounted oil sales to India
Russian President Vladimir Putin told Indian Prime Minister Narendra Modi, “No more Mr Nice Guy. It’s just business now,” after the US softened sanctions on India’s purchase of Russian oil to alleviate a growing supply side squeeze.
Asia desperate for energy as Gulf disruption spreads
Across Asia, motorists are joining long lines at petrol stations as prices climb and governments across the region come to the realisation they could be left struggling to meet the energy demands of some of the world’s most populated countries.
US gives India 30-day waiver for Russian oil
India’s available reserves of around 100mn barrels would therefore last for only about six weeks, reportedly leaving New Delhi with limited alternatives to Russian supplies despite previous commitments to reduce purchases.
Hormuz crisis: oil markets move from disruption to chaos
The global oil market is sliding from disruption into what could become a full-scale crisis, as the blockade of the Strait of Hormuz leaves Gulf exporters unable to ship crude and running out of storage capacity.
Philippines considers emergency diesel reserves as oil prices surge
The Philippine government is considering establishing an emergency diesel reserve as global oil prices rise amid escalating tensions in the Middle East.
Taiwan reports oil and gas reserves above minimum
Taiwan holds sufficient crude oil reserves to cover more than 100 days of demand and natural gas stocks that would last for over 11 days, both exceeding the country’s mandated minimum levels, according to Economy Minister Kung Ming-hsin.
South Korea warns oil firms over price collusion
President Lee Jae Myung issued a new warning to domestic oil refiners on March 6 over suspected coordination in raising fuel prices, as tensions in the Middle East continue to escalate following US and Israeli strikes on Iran.
India's Petronet LNG declares force majeure after QatarEnergy notice
India’s biggest LNG importer, Petronet LNG, has received a Force Majeure notice from QatarEnergy (QE), and as a result PLL has issued corresponding Force Majeure notices to companies that it supplies LNG to.
China targets stable oil supply in five-year plan
China has set a goal to keep annual crude oil production at 200mn metric tonnes, equivalent to about 4mn barrels per day, under its upcoming five year energy plan announced on March 6.
Pakistan seeks Saudi oil route via Red Sea as Hormuz closure disrupts supply
Pakistan has asked Saudi Arabia to help secure crude oil shipments through the Red Sea port of Yanbu as the closure of a key Gulf shipping route threatens the country’s energy supply chain
Bangladesh scrambles for LNG supplies after QatarEnergy declares force majeure
Bangladesh is facing the risk of fuel shortages within days after a disruption in liquefied natural gas (LNG) supplies forced authorities to urgently seek alternative cargoes in the global spot market
Trump takes from Putin playbook with state-backed Hormuz maritime insurance
It wasn’t missiles that closed the straits of Hormuz. It was insurance companies. At the outbreak of hostilities international insurance companies canceled war-risk coverage.
Vietnam fuel prices jump amid Middle East conflict
Vietnam has significantly increased domestic fuel prices following a sharp rise in global oil markets driven by escalating conflict in the Middle East.
Middle East conflict disrupts fuel supplies in Myanmar
Fuel shortages have triggered long queues at petrol stations across Myanmar, as disruptions linked to the conflict in the Middle East reduce supplies.
Iranian warship sunk by US submarine was not in Indian waters
The IRIS Dena was a Moudge-class frigate in Iran's regular navy fleet and was part of the Indian Navy organised International Fleet Review between February 15-25 2026.
Bangladesh says fuel reserves adequate despite Hormuz risks
Bangladesh holds sufficient reserves of refined petroleum products and does not expect any immediate supply disruption even if shipping through the Strait of Hormuz is affected
Tata Consulting Engineers supports commissioning of integrated bioethanol refinery in India’s Odisha
Tata Consulting Engineers has supported the commissioning of India’s first integrated rice- and biomass-based bioethanol refinery in Odisha
Laos monitors fuel imports amid regional energy uncertainty
Fuel availability in the capital of Laos is gradually improving following renewed imports from Thailand, although several smaller petrol stations continue to report temporary stock shortages.
78 injured as submarine attacks Iranian naval vessel off Sri Lanka's coast
At least 78 Iranian sailors injured after submarine attack on naval vessel IRIS Dena off Sri Lanka's coast, with rescue operations under way near the city of Galle.
Indonesia’s fuel reserves are sufficient for 20 days amid Middle East tensions
Bahlil Lahadalia, Indonesia’s Minister of Energy and Mineral Resources, has stated that the country’s national fuel reserves remain adequate for approximately 20 days, citing escalating geopolitical tensions in the Middle East
MHB secures four-year offshore platform contract from PTTEP for Sarawak projects
Malaysia Marine and Heavy Engineering Holdings Bhd has secured a four-year offshore contract from Thailand’s upstream energy firm PTT Exploration and Production Public Company Ltd for projects located off the coast of Sarawak
New Delhi says it is prepared to handle energy disruptions amid Middle East tensions
The Indian government has asserted that the country is fully prepared to manage any short-term energy disruptions arising from the outbreak of hostilities in the Middle East and the evolving global energy situation.
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