AsianOil - Asia Oil & Gas

Iran begins charging vessels to transit Strait of Hormuz through IRGC-controlled 'safe corridor'

Iran begins charging up to $2mn per vessel for passage through a new IRGC-controlled "safe corridor" in the Strait of Hormuz, with India, China, Pakistan and Iraq among countries negotiating access.

Philippines weighs expanded subsidies as oil prices add pressure

Marcos also said the administration is seeking to diversify energy sources beyond traditional suppliers in the Middle East.

Malaysia emerges as regional energy and stock haven as Iran war drags on

Malaysia has emerged as one of Southeast Asia’s top-performing markets as the war in Iran drives energy prices higher and pushes global investors towards economies better positioned to weather volatility.

Gold and silver fall in India after US Fed holds rates

QatarEnergy warns of potential force majeure on Korean LNG contracts

QatarEnergy may be forced to declare force majeure on long-term LNG contracts with several countries, including South Korea, as supply disruptions persist, according to a report citing the company’s chief executive.

India's ceramic hub falls silent as Middle East conflict disrupts gas supplies

Most factories in Morbi, the ceramics manufacturing powerhouse in India's Gujarat, have remained shut as fuel shortages linked to the Iran conflict continue to disrupt production.

Thai industry urges action on rural fuel shortage

The Federation of Thai Industries (FTI) has appealed to the government to take immediate action to address a growing fuel shortage affecting rural areas. Small-scale oil distributors, known locally as “jobbers”,

Vietnam requests crude and gas supplies from Algeria

Vietnam is seeking additional crude oil and natural gas from Algeria as global energy markets face disruption linked to tensions in the Middle East.

South Korea secures 24mn barrels of UAE oil

A senior official from the South Korean presidency confirmed on March 18 that the United Arab Emirates has committed to viewing Seoul as its primary partner for petroleum exports.

Asia turns to Russian fuel in record volumes

China is also increasing its purchases from Russia, with imports estimated at 1.2mn to 1.5mn tonnes – primarily for use as a substitute feedstock in refineries.

Eni approves $5bn Indonesia gas projects

Italian energy group Eni has approved two major offshore gas developments in Indonesia that are expected to produce around 2bn standard cubic feet per day (cf/d) of natural gas, the company said on March 18.

Japan petrol prices hit record level

Japan’s average retail petrol price has reached a record JPY190.80 ($1.19) per litre, reflecting higher crude costs linked to the Iran conflict, according to data released on March 18 by the nation’s industry ministry.

Bangladesh turns to coal as LNG crunch deepens

Bangladesh has sharply increased coal-fired power generation this month as an acute LNG shortage disrupts gas-based electricity output, following supply constraints linked to the ongoing conflict in the Middle East.

Taiwan absorbs $100mn to blunt fuel prices

Taiwanese state-owned energy provider CPC Corp. has absorbed approximately TWD3.3bn ($100mn) in additional fuel expenses over the last fortnight to maintain domestic price stability.

Philippines suspends fare rise, Marcos expands subsidies

President Ferdinand Marcos Jr has frozen a planned rise in public transport fares, stating that the current global instability makes it "not the time" to increase costs for citizens.

Myanmar introduces power rationing amid rising electricity demand

Myanmar will introduce targeted electricity distribution measures as rising demand strains supply, the Ministry of Electric Power has announced.

Cambodia turns to Singapore, Malaysia for fuel supply

Cambodia is increasing fuel imports from Singapore and Malaysia to offset supply shortfalls caused by export restrictions from Vietnam and China, Energy Minister Keo Rottanak told Reuters.

Falling crude output raises Vietnam’s import dependency concerns

Vietnam is set to see domestic crude oil output decline this decade, heightening reliance on imports as ageing offshore fields and geopolitical tensions disrupt supply, according to a government report released this week.

Pakistan warns of post-April LNG gap as supplies start to dry up

Pakistan’s Senate Standing Committee on Petroleum has been warned that the country could face difficulties meeting gas demand in the power sector after April 14, as imported LNG supplies are set to lapse.

India denies media reports of Iran tanker swap deal

New Delhi is navigating a delicate balance between its energy dependence on Gulf suppliers.

Bangladesh steps up LNG purchases as Asia feels tightening of supplies

Bangladesh is moving to secure additional LNG supplies from the spot market as part of the intensifying strain on global energy markets linked to the war in Iran and knock-on effects with supplies.

Japan’s JERA proposes LNG plant for Oahu as Tokyo grapples with energy strains

Japan’s largest power generation company has set out plans to develop a liquefied natural gas-fired plant on Oahu, positioning the project as a lower-cost alternative to oil-based generation.

Japan eyes Alaska oil tie-up as supply risks mount

Japan is preparing to use a forthcoming summit in the US to advance co-operation on crude production in Alaska, as Tokyo seeks to shore up energy security against mounting disruption linked to the conflict in Iran.

Bangladesh approves emergency spot LNG purchases

Bangladesh has stepped up efforts to secure emergency energy supplies after a cabinet committee approved the purchase of two spot liquefied natural gas (LNG) cargoes from Aramco Trading Singapore.

India seeks Chinese urea supplies as Middle East conflict threatens fertiliser output

ndia has asked China to allow the sale of some urea cargoes as the conflict in the Middle East disrupts natural gas supplies and raises concerns over fertiliser production in the South Asian country.