AsianOil - Asia Oil & Gas
Rising fuel costs threaten Cambodia’s 2026 tourism recovery
Rising fuel costs and Middle East tensions cast uncertainty over Cambodia’s tourism recovery, though officials remain cautiously optimistic.
Myanmar shuts fuel stations over QR rule breaches
Myanmar has temporarily closed 17 fuel stations and warned dozens more for failing to follow mandatory QR code procedures
Vietnam increases imports and refining to ensure supply
Two of Vietnam’s largest refineries say domestic fuel supplies remain secure despite global market uncertainty and Middle East tensions.
Japan’s LNG diversification will not shield it against global price spikes
Diversified supply portfolios and crude oil-indexed contracts, do not shield Japanese buyers as is claimed. Approaching week six of the war in Iran, Japan remains fully exposed to Middle East supply disruptions.
Vietnam’s Vingroup to swap LNG-fired plant for renewable energy project
Vietnamese conglomerate Vingroup is pivoting from building the country’s biggest LNG-fired power plant to a renewable energy project.
Indian jet fuel prices rise by over 100%
Aviation turbine fuel prices in India have surged past INR207,000 ($2,209) per kilolitre for the first time, marking a record high.
Philippines' GSIS freezes loans as fuel costs soar
The Philippines' Government Service Insurance System (GSIS) announced a 90-day moratorium on loan repayments for state employees on April 1 to counteract the impact of rising oil prices.
Philippines, Iran talk to secure oil ship passage
The Philippines is moving to secure the safe passage of its oil shipments through the Strait of Hormuz, which has fallen under Tehran's effective control, as the government scrambles to protect energy security amidst Middle Eastern instability.
South Korea swaps crude to diversify oil imports
South Korea has introduced its inaugural strategic oil swap mechanism to allow local refiners to borrow state crude reserves to mitigate supply disruptions in the Middle East.
Korean Air enters emergency mode as fuel costs soar
Korean Air transitioned into emergency management to mitigate the impact of rocketing jet fuel prices as the conflict between the US, Israel and Iran rattles the global economy.
Ex-Shell leader gets 21 years for $100mn fuel heist in Singapore
A former assistant production team leader at Shell was sentenced to 21 years’ jail on March 30 for his role in a long-running conspiracy to syphon $100mn worth of marine gas oil from the Pulau Bukom facility
Pakistan nears launch of methane-to-LNG project at Sachal gas complex
Pakistan is in the final stages of rolling out an energy recovery project that will convert methane emissions into liquefied natural gas (LNG), marking a step towards cleaner and more efficient fuel utilisation.
Middle East tensions push up Cambodia airline costs
Airlines operating in Cambodia have raised ticket prices due to the global fuel crisis, driven by Middle East tensions, which continues to disrupt aviation costs
Diesel and LPG supplies under pressure nationwide in Cambodia
Cambodia is taking urgent steps to prevent a domestic fuel crunch as global supply disruptions push diesel and liquefied petroleum gas (LPG) towards scarcity. Authorities are securing imports while urging households to conserve energy.
Rising fuel costs cripple Myanmar’s peak holiday season
Myanmar’s tourism sector is bracing for another blow as an escalating fuel crisis threatens to slash domestic travel during the nine-day Thingyan holiday, traditionally the busiest period of the year.
Guyana to play pivotal role in lifting Chinese CNOOC's reserve levels
Chinese national oil company CNOOC has outlined its oil production and reserves targets for 2026, with its Guyana operations positioned as a critical driver of growth as the company seeks to expand output and replace reserves.
India in talks to widen gas supply network to Angola amid tight Middle East deliveries
Four Indian state-owned companies are negotiating to source gas from Angola as the Asian giant seeks alternative sources because of constrained supplies from the Middle East.
Cyclone shuts down Australian LNG plants further squeezing supply
Around 8% of the world’s LNG supply was disrupted by cyclone Narelle off the western coast of Australia.
Cyclone shut-ins Australian LNG plants further squeezing supply
Around 8% of the world’s LNG supply was disrupted by cyclone Narelle off the western coast of Australia.
INPEX to prioritise Kazakh and Azerbaijani oil for Japan amid supply concerns
Japan’s INPEX reportedly plans to prioritise crude oil supplies from Kazakhstan and Azerbaijan for Japanese buyers as concerns grow over disruptions to oil shipments coming out of the conflict-torn Middle East.
Two Australian states make public transport free amid Middle East conflict
The state governments of Victoria and Tasmania will offer free public transport to incentivise commuters to ditch their cars as the conflict in the Middle East drives Australian fuel prices to record highs.
Thai authorities hike diesel despite rising subsidy costs
Diesel prices in Thailand have climbed above THB40 ($1.21) per litre for the first time in months, following an overnight decision by authorities to raise fuel rates amid soaring global oil costs.
South Korea considers emergency powers for price control
President Lee Jae Myung ordered bold interventions to tackle the energy crisis sparked by Middle Eastern instability, stating the government may invoke constitutional emergency financial and economic orders if the situation worsens.
Philippine DOE secures 165mn litres of diesel supply
The Philippine Department of Energy (DOE) has secured 1.042mn barrels of diesel to reinforce the national fuel supply as geopolitical volatility continues to destabilise global oil markets, the department announced on March 31.
Philippine drafts carpool rules for fuel relief
The Metropolitan Manila Development Authority (MMDA) introduced a draft framework for a new carpooling initiative on March 30, designed to help commuters mitigate the impact of rising fuel prices.
LG Chem secures Russian naphtha for South Korea
LG Chem Ltd. has successfully obtained 27,000 tonnes of naphtha sourced from Russia. This acquisition comes as the domestic industry faces potential disruptions to its supply chain resulting from ongoing hostilities within the Middle East.
Jet fuel prices soar over 150% in Pakistan in under a month
Jet fuel prices in Pakistan have surged by more than 150% in less than four weeks, underscoring the intense pressure from volatile global oil markets and rising geopolitical tensions.
Sri Lanka raises power tariffs as war-driven energy costs mount
Sri Lanka has increased electricity tariffs for most households by 7.2% and for industries by 8.7%, as the country contends with rising energy costs linked to the Iran war.
Japan steps up efforts at oil diversification
Japan is stepping up efforts to diversify its crude oil supply as the crisis in Iran and the de-facto blockade of the Strait of Hormuz expose the country’s heavy reliance on Middle Eastern imports.
India, Russia eyes resumed LNG trade
India and Russia are preparing to resume direct LNG supplies for the first time since the start of the war in Ukraine.
Iran could earn $60bn a year from Strait of Hormuz tariffs, economist says
An Iranian economist says controlling the Strait of Hormuz could generate $60bn a year in transit tariffs for Tehran.
Philippine refiner Petron buys 2.48mn barrels of Russian crude
The Philippine energy giant Petron Corporation has purchased roughly 2.48mn barrels of Russian crude oil. This acquisition is a strategic response to global logistics volatility and the recently declared state of emergency.
Indonesia seeks Iran’s help to clear Pertamina tankers
Indonesia is in emergency talks with Iran to secure safe passage for two Pertamina tankers carrying Saudi crude through the Strait of Hormuz, the energy ministry said on March 30
S&P says Bangladesh faces rising energy risks
Bangladesh is confronting mounting energy-related vulnerabilities with limited room for policy manoeuvre, as global supply disruptions and geopolitical tensions restrict its ability to absorb external shocks.
Oil at $112 pushes Taiwan fuel prices higher
Taiwan’s state-owned refiner CPC Corp will raise petrol and diesel prices this week, lifting rates by TWD1.7 and TWD1.5 per litre respectively, the company said on March 30.
Petronas denies role in the Philippines fuel supply deal
Malaysia’s state energy giant Petronas has denied any involvement in a reported fuel supply arrangement with a local government unit in the Philippines.
Thailand defends fuel shipments to Laos and Myanmar
Thailand has clarified why it continues exporting fuel to Laos and Myanmar despite tightening domestic supplies, saying the shipments are crucial to maintaining electricity generation and regional energy agreements.
Thai PM announces Hormuz transit deal with Iran
Thailand has struck a deal with Iran to allow its oil tankers to pass safely through the Strait of Hormuz, Prime Minister Anutin Charnvirakul announced on March 28, easing fears of further disruption to the country’s fuel supplies.
Hungary’s MOL JV makes new gas discovery in Pakistan
A joint venture led by MOL Pakistan made a major oil discovery in Pakistan's District Kohat, which is expectedc to boost MOL’s production by 400 boepd.
Vietnam seeks safe, priority transit through Hormuz
Vietnam is seeking diplomatic support to ensure its vessels can pass safely and with priority through the Strait of Hormuz, as security risks in the Middle East continue to disrupt global shipping.
Thai PM apologises as Hormuz tensions hit economy
Thailand is grappling with mounting economic strain from the ongoing US–Iran conflict, which has pushed up fuel prices, disrupted shipping routes and cast uncertainty over tourism and energy costs.
Rising fuel prices drive Laos inflation to 9.7%
Inflation in Laos accelerated sharply in March, rising to 9.7% year on year from 6.2% in February, according to the Lao Statistics Bureau.
Booking platforms respond quickly to rising LPG prices in Cambodia
Rising fuel prices are squeezing the earnings of Cambodian tuk‑tuk drivers, leaving many struggling to cover daily expenses. LPG and gasoline costs have more than doubled, yet ride fares have not kept pace,
Inflation seen breaching 6% as oil surge clouds India's growth outlook
India’s economic outlook is coming under increasing strain as rising crude oil prices and escalating tensions between the United States and Iran stoke inflationary risks, with a Bernstein report warning that price pressures could cross 6%.
India sends 38,000 metric tonnes of emergency fuel shipment to Sri Lanka
India has dispatched a fresh consignment of fuel to Sri Lanka in a renewed show of support, shortly after a phone call between Prime Minister Narendra Modi and Sri Lankan President Anura Kumara Dissanayake.
Vietnam allocates $304mn to fuel price stabilisation fund
The allocation will be sourced from a central budget revenue surplus recorded in 2025 and assigned to the Ministry of Industry and Trade for implementation.
Pakistan confirms passage for 20 ships through Strait of Hormuz
Pakistan has confirmed an agreement with Iranian authorities allowing 20 Pakistani-flagged vessels to transit the Strait of Hormuz. It is a development presented by Islamabad as a step towards substantially easing the nation's energy disruption.
India adopts multi front fertiliser strategy as West Asia crisis unfolds
The biggest short term vulnerability for Indian energy security is liquified petroleum gas using in cooking - of which India imports over half of its consumption demand via the Strait of Hormuz.
Philippines targets 2mn barrel reserve under security plan
The Department of Energy (DOE) oversaw the arrival of 22.5mn litres of imported diesel to bolster national fuel stocks as the country faces a state of energy emergency.
Malaysia’s ships allowed to pass Strait of Hormuz after talks with Iran
Malaysia reports that its vessels are among those that have been allowed to transit the Strait of Hormuz after diplomatic communications with several countries in the region.
Singapore and Malaysia discuss Middle East conflict risks
Singapore’s prime minister, Lawrence Wong and Malaysia’s prime minister, Anwar Ibrahim, have sat down to discuss the impact of the escalating Middle East conflict on global oil supplies and the regional economy
South Korea taps global equity oil for supply
The Korea National Oil Corporation (KNOC) is assessing the feasibility of shipping crude oil from its international subsidiaries to the domestic market, following a supply crisis sparked by military action in the Middle East.
Japan hits 80mn barrel record to stop shortage
Japan began the largest-ever release of state-held crude oil on March 26, as Tokyo moves to insulate the economy from supply shocks caused by the ongoing US-Israeli war with Iran.
Indonesia turns to Brunei, rules out Iranian and Russian crude imports
The Director General of Oil and Gas of Indonesia, Laode Sulaema, has said the country is not considering importing crude oil from Iran or Russia, even after the United States temporarily eased sanctions on energy exports from both countries.
India’s emissions growth slows to two-decade low in 2025
India’s carbon dioxide emissions rose by just 0.7% in 2025, marking the slowest annual increase in over two decades, as record additions in clean energy capacity and subdued electricity demand restrained fossil fuel consumption.
Myanmar farmers battle diesel shortages during harvest
Myanmar’s rice farmers are scrambling for diesel as global supply disruptions linked to the Iran conflict deepen an already fragile economy weakened by years of civil war.
Higher fuel costs threaten Thailand’s inflation outlook
Thai motorists faced one of the sharpest fuel price rises in decades on Thursday after the government scaled back subsidies strained by soaring global oil costs.
Laos secures diesel supplies to ease fuel crunch
Laos has moved to stabilise its fuel market by securing a 14mn litre diesel shipment as global oil disruptions and rising demand strain domestic supplies.
Vietnam orders rapid construction of strategic oil depot
Vietnam’s prime minister has ordered the rapid construction of a strategic petroleum storage facility in Thanh Hoa province to strengthen the country’s energy independence.
Seoul to deepen fuel tax cuts
South Korea will more than double its temporary fuel tax cuts in an effort to ease pressure on households and industry as the conflict in the Middle East continues to disrupt energy markets.
Philippine aircraft face grounding risk as supplies tighten
Philippine aircraft could be grounded due to a looming jet fuel shortage linked to the Middle Eastern crisis, President Ferdinand Marcos Jr. said on March 24.
Japan seeks new IEA oil release to curb prices
South Korea faces LNG price volatility after Qatar halt
Sri Lanka faces power strain as coal issues and fuel delays hit generation mix
Sri Lanka’s power sector is coming under mounting pressure as global fuel supply disruptions, substandard coal imports and delayed shipments threaten electricity generation.
Bangladesh raises jet fuel prices by 80%
Bangladesh has sharply increased jet fuel prices by around 80%, taking domestic aviation fuel rates to BDT202.29 ($1.65) per litre, amid volatility in global energy markets linked to the Middle East conflict.
India’s Reliance buys Iranian crude after US eases sanctions
Reliance Industries has purchased around 5mn barrels of Iranian crude, marking India’s first such deal in nearly five years following a temporary easing of US sanctions.
Fuel crisis prompts Cambodia schools to rethink transport options
Cambodia’s Ministry of Education, Youth and Sports (MoEYS) is pushing schools and universities to adopt shared transport, public buses, and energy-saving practices to ease the impact of the ongoing fuel and electricity crunch.
Myanmar fuel shortages deepen as airstrikes on civilians continue
Myanmar’s military government has tightened fuel access for civilians while maintaining air operations that continue to hit civilian areas, highlighting stark disparities in fuel allocation during the ongoing crisis.
Thailand coordinates with Iran to ensure tanker transit
A Thai oil tanker has safely navigated the Strait of Hormuz following diplomatic coordination between Thailand and Iran, easing concerns over energy shipments through the conflict-hit waterway.
Japan's Inpex continues push in Australia's Beetaloo basin
Japan’s Inpex has expanded its push into Australia’s onshore gas sector by farming into acreage in the Beetaloo Sub-basin.
ExxonMobil starts drilling at Turrum Phase 3 offshore Australia
ExxonMobil has begun drilling for its Turrum Phase 3 project offshore Australia, as it seeks to boost gas supply to the country’s tightening east coast market and reinforce its position in the Gippsland Basin.
EnQuest eyes further Southeast Asian expansion
London-based EnQuest is stepping up its expansion in Southeast Asia as it looks to build a larger gas-focused business in the region.
Australia hit hard by high fuel import dependency
Australia’s status as a major LNG exporter has offered little protection from the Hormuz-driven energy crisis, which is tightening refined fuel supply, lifting costs and exposing the country’s dependence on imports.
Losers and winners from the Qatari LNG disruption
While European and Asian importers have been hit hard by the disruption in Qatari LNG to varying degrees, the crisis has both short- and long-term benefits for US exporters and other LNG competitors.
Iran tells ‘non-hostile vessels’ they can pass through Strait
Tehran has formally notified the International Maritime Organization (IMO) that “non-hostile vessels” may now navigate the Strait of Hormuz, provided they act “in co-ordination with Iranian authorities”.
The Philippines declares national energy emergency
The Philippines has declared a nationwide energy emergency, becoming the first country to take such a step in response to disruptions caused by the ongoing conflict involving Iran.
Singapore court rejects OCBC’s $56mn claim over capsized oil rig
OCBC Bank has lost a $56mn insurance claim linked to a jack-up oil rig that capsized in 2018, after Singapore’s highest court ruled that the bank had not proven the vessel was lost due to “perils of the seas”
Malaysia backs New Zealand energy security push amid global conflict
After a phone call with New Zealand Prime Minister Christopher Luxon, Malaysia has welcomed the country’s efforts to strengthen energy security as global conflicts continue to disrupt energy markets
Indonesia awards nine new oil and gas blocks to boost exploration
Indonesia has awarded nine oil and gas working areas across several key basins, with total firm commitments of about $84.75mn and signature bonuses of $3.65mn, the Energy and Mineral Resources Ministry said.
Indonesia targets $4.7bn in savings as Middle East war pushes up oil prices
Indonesia is aiming to secure up to IDR80 trillion (about US$4.7bn) in budget savings to shield the economy from the impact of rising global oil prices following the conflict in the Middle East, the government said
Petronas Chemicals expects another difficult year as demand stays weak
Malaysia’s Petronas Chemicals Group said operating conditions for the petrochemicals industry are likely to remain challenging in 2026
India set to pay premium for Iranian oil
Traders have begun offering Iranian crude to Indian refiners at prices above ICE Brent following a temporary easing of US sanctions.
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