AsianOil - Asia Oil & Gas

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.

VAT cut eases Cambodian households’ fuel price burden

Cambodia has slashed the value-added tax (VAT) on regular gasoline and diesel from 10% to 4%, a move aimed at reducing the impact of soaring global oil prices on consumers.

Myanmar imposes strict fuel limits amid rising prices

Fuel prices in Myanmar have surged sharply, with strict rationing measures now affecting major cities as authorities struggle to manage supply.

Vietnam Airlines trims domestic flights as fuel costs soar

Vietnamese carriers are preparing to scale back selected domestic services and increase fuel surcharges on international routes as jet fuel prices climb and supply risks intensify, aviation authorities say.

Crude market volatility reflects Trump administration’s unpredictable war moves, says analyst

The US has temporarily lifted sanctions to permit the sale and delivery of Iranian oil, allowing for up to 140 million barrels of crude to enter global markets over the coming weeks.

Singapore central bank to review inflation outlook in April as energy prices surge

Singapore’s central bank said it will update its inflation outlook in April as it assesses the impact of rising global energy prices triggered by the Middle East conflict.

Taiwan gas stocks steady despite Qatari supply fears

Chinese refiners eye Iran oil under temporary US waiver

China’s state-owned refiners are reviewing potential purchases of Iranian crude after Washington allowed limited sales of cargoes already loaded on tankers to ease supply pressures from the Middle East conflict.

South Korea orders driving curbs as oil risks grow

South Korea will enforce a five-day vehicle restriction system for public sector workers from March 25 as rising Middle East tensions threaten crude oil and gas supplies, President Lee Jae Myung said at a Cabinet meeting on March 24.

Sri Lankan stocks slip as global cues weigh on sentiment

Pakistan outlines off-grid energy push, integrated LNG strategy

A Pakistani energy executive has set out a detailed vision for a sustainable energy transition in the country by linking off-grid systems to LNG integration and renewable innovation.

Pakistan triples high-octane fuel price

Prime Minister Shehbaz Sharif has approved a steep increase in the price of high-octane fuel, raising it from PKR100 ($0.36) per litre to PKR300 per litre, as part of efforts to generate revenue while protecting ordinary consumers.

Gold and silver tumble in India on global cues

Iran offers fuel support as Sri Lanka faces deepening energy crisis

Iran has signalled its willingness to supply fuel and essential goods to Sri Lanka if requested, as the island nation struggles with worsening shortages and soaring costs.

India's strategic petroleum reserve capacity exceeds 5.3mn tonnes

Prime Minister Narendra Modi on March 23 said India has built strategic petroleum reserves exceeding 5.3mn tonnes and is advancing plans to add over 6.5mn tonnes of additional storage capacity.