AsianOil - Asia Oil & Gas

Bangladesh’s rising fuel import dependence sparks warning over ‘energy trap’

Bangladesh’s growing reliance on imported fuel has pushed the country into an “energy trap,” exposing the economy to mounting global market risks and threatening medium-term growth prospects.

China ramps up oil, LNG imports in April

Shell designates $51mn for Philippine fuel supply terminals

Shell Pilipinas Corp. will allocate between PHP2bn ($34mn) and PHP3bn ($51mn) for capital expenditure in 2026, the company announced on May 12. The investment aims to secure the domestic fuel supply and upgrade national distribution networks.

India rejects sanctioned Russian LNG

India has turned down Russia’s proposal to supply liquefied natural gas (LNG) covered by US sanctions, even as disruptions linked to tensions in the Middle East tighten fuel supplies.

Russia considers first fuel export shipment to Laos

Russia is considering its first shipment of petroleum products to Laos as Moscow seeks to strengthen its foothold in Southeast Asia’s growing energy market

India eyes hike in domestic fuel prices on May 15

India is reportedly considering raising domestic fuel prices before May 15 as state-owned oil marketing companies struggle with mounting losses caused by the surge in global crude oil prices following the escalation of conflict in the Middle East.

Japan takes first Azeri oil cargo since start of US-Iran war

Japan is diversifying crude oil imports and deepening energy cooperation with Saudi Arabia as disruption in the Strait of Hormuz forces the country to reduce its overwhelming reliance on Middle Eastern supplies.

Conrad signs EPCI contract for Indonesia's Mako gas project

Empyrean Energy said on May 8 the Mako gas project offshore Indonesia had taken another step towards development after operator Conrad Asia Energy signed a binding subsea engineering, procurement, construction, and installation contract.

Workers at Australia's Ichthys LNG plant vote to strike

Dolphin Drilling secures UK North Sea, India deals

Offshore rig contractor Dolphin Drilling has signed a contract with Harbour Energy for the semi-submersible drilling rig Paul B. Loyd Jr. in the UK sector of the North Sea, adding around $150mn to its firm backlog.

Australia's Annie field could flow first gas in 2028 after state approvals

Australian gas producer Amplitude Energy hopes to begin production from its newly approved Annie gas project in the offshore Otway Basin as early as 2028, adding fresh domestic supply to Australia’s increasingly tight east coast market.

Uncertainties and risks to Australia's east coast gas reservation scheme

Australia will force east coast LNG exporters to reserve 20% of supply for the domestic market from July 2027 in a major intervention aimed at preventing gas shortages and lowering prices.

Eni reports "exceptional" well test at giant Indonesian find

Eni’s strong test results at the Geliga-1 discovery offshore Indonesia support plans to accelerate development of a third deepwater gas hub in the Kutei Basin.

CNOOC views Guyana as key asset for company growth

CNOOC Vice President Keith Henderson stated that Guyana's offshore oil developments now rank among the Chinese energy company's top-performing assets globally.

Pakistan gambles on Qatar LNG even as Hormuz disruption exposes energy vulnerability

Pakistan has opted against making fresh emergency purchases of LNG on the spot market despite continued disruption to shipping through the Strait of Hormuz.

India’s state oil groups face mounting losses as Middle East conflict drives up crude costs

India’s state-owned oil marketing companies have accumulated losses of more than $10.4bn over the past 10 weeks on the back of the nation’s shielding of consumers from surging global fuel prices.

Manila provides 45mn litres diesel for remote regions

The Philippine Department of Energy (DOE) is supplying diesel at reduced rates to remote communities served by the National Power Corporation (NPC), the department announced on May 11.

Taiwan budgets $11bn for CPC Corp price subsidies

Taiwan will inject TWD350bn ($11.14bn) into state-owned energy firm CPC Corp over the next four years to ease heavy financial pressure, officials said on May 12.

QatarEnergy’s second LNG tanker transits Strait of Hormuz

QatarEnergy has sent a second LNG tanker to transit the Strait of Hormuz, following an arrangement between Iran and Pakistan to allow safe passage.

Cost estimates rise for Woodside’s delayed Browse LNG project

Australia’s Woodside Energy has raised its cost estimate for its long-delayed Browse LNG project.

South Korea to extend fuel price caps as Middle East tensions drag on

South Korea’s finance minister said temporary price caps on fuel products would remain in place for the time being as the government continues to monitor instability in the Middle East.

Bangladesh's energy crisis biggest barrier to investment

Bangladesh’s unresolved energy shortages remain the most significant obstacle to attracting both domestic and foreign investment, according to Bangladesh Investment Development Authority (BIDA) Executive Chairman Chowdhury Ashik Mahmud Bin Harun.

Pakistan extends fuel-saving austerity measures

Pakistan has extended nationwide austerity measures aimed at conserving fuel and reducing energy consumption until June 13 as elevated global oil prices continue to pressure the country’s import-dependent economy.

Thailand struggles with inflation fueled by energy market volatility

Thailand’s finance minister has defended the government’s planned borrowing for energy transition projects, saying the country is facing an unpredictable economic crisis driven largely by soaring energy costs.

Vietnam explores synthetic aviation fuel using renewable energy

Vietnam pushes ahead with green aviation fuel plans after a state refinery signed a deal with Germany’s GIZ to explore synthetic fuel production using power-to-liquid technology.