AsianOil - Asia Oil & Gas

Thai police expand maritime operations against fuel smuggling

Thai authorities have launched an expanded sea operation to combat fuel smuggling and illegal oil trading, officials announced on March 22.

Laos cuts school week to three days amid fuel crisis

Laos has reduced the school week to three days as authorities scramble to curb energy use during a worsening fuel shortage

Jet fuel shortage forces Myanmar airlines to suspend service

Several airlines in Myanmar have temporarily halted domestic operations as a shortage of jet fuel disrupts flight schedules and ticket sales.

Passengers to Vietnam face surcharges amid fuel spike

More than 60% of international airlines have raised fares or are preparing to do so from mid-March as soaring fuel costs squeeze the aviation sector.

Manila fishers lose half earnings as fuel climbs

Artisanal fishers in metropolitan Manila are seeing their daily takes nearly halved as soaring diesel costs make voyages to sea increasingly unaffordable.

Indian aviation minister says fuel to impact ticket prices

India's core sector output modest in February

Crude oil production fell 5.2% y/y, extending a cumulative decline of 2.5% for the April-February period. Natural gas output contracted 5.0% y/y with a cumulative fall of 3.5%. Petroleum refinery production declined 1.0% y/y

Pakistan absorbs $250mn fuel cost to cushion consumers

Pakistan has taken on a financial burden of PKR69bn ($250mn) to stabilise petroleum product prices and shield consumers from rising costs.

Sri Lanka hikes fuel prices for the second time this month

Sri Lanka has sharply increased retail fuel prices by 24%–30%, pushing rates close to levels last seen during the 2022 economic crisis, as authorities respond to rising global oil prices.

Refined oil products caught in Iran war energy shock maelstrom

The sharp rise in refined oil product prices is intensifying the economic fallout from the latest energy shock, compounding the effects of disrupted crude flows and tightening supply chains.

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.