AsianOil - Asia Oil & Gas

China largely insulated from global energy price shocks

Although China is the world’s largest net oil importer and a major purchaser of Iranian crude, several factors mitigate the impact on its economy.

Pakistan vows to curb oil companies’ inventory gains after fuel price rise

South Korea weighs targeted budget support as fuel prices surge

Indian equities fall sharply as oil surge batters sentiment

Washington to open strategic oil reserves, release 172mn barrels

The United States will release 172mn barrels of oil from its emergency stockpiles starting in the week as part of an effort to curb rising energy prices following the outbreak of war.

India prioritises domestic gas supply for city gas network

The Indian government has instructed gas distributors to prioritise domestic natural gas and regasified LNG supplies for the city gas distribution (CGD) network.

Philippines advances bill allowing temporary fuel tax relief

The House of Representatives of the Philippines has approved on second reading a proposal that would permit Ferdinand Marcos Jr. to temporarily suspend or lower excise duties on petroleum products during periods of economic crisis.

Seoul to release 22.46mn barrels from oil reserves

South Korea will release 22.46mn barrels of crude oil from its strategic petroleum reserves as part of a coordinated plan by members of the International Energy Agency to supply 400mn barrels to global markets.

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.