AsianOil - Asia Oil & Gas

Bangladesh raises jet fuel prices by 80%

Bangladesh has sharply increased jet fuel prices by around 80%, taking domestic aviation fuel rates to BDT202.29 ($1.65) per litre, amid volatility in global energy markets linked to the Middle East conflict.

India’s Reliance buys Iranian crude after US eases sanctions

Reliance Industries has purchased around 5mn barrels of Iranian crude, marking India’s first such deal in nearly five years following a temporary easing of US sanctions.

Fuel crisis prompts Cambodia schools to rethink transport options

Cambodia’s Ministry of Education, Youth and Sports (MoEYS) is pushing schools and universities to adopt shared transport, public buses, and energy-saving practices to ease the impact of the ongoing fuel and electricity crunch.

Myanmar fuel shortages deepen as airstrikes on civilians continue

Myanmar’s military government has tightened fuel access for civilians while maintaining air operations that continue to hit civilian areas, highlighting stark disparities in fuel allocation during the ongoing crisis.

Thailand coordinates with Iran to ensure tanker transit

A Thai oil tanker has safely navigated the Strait of Hormuz following diplomatic coordination between Thailand and Iran, easing concerns over energy shipments through the conflict-hit waterway.

Japan's Inpex continues push in Australia's Beetaloo basin

Japan’s Inpex has expanded its push into Australia’s onshore gas sector by farming into acreage in the Beetaloo Sub-basin.

ExxonMobil starts drilling at Turrum Phase 3 offshore Australia

ExxonMobil has begun drilling for its Turrum Phase 3 project offshore Australia, as it seeks to boost gas supply to the country’s tightening east coast market and reinforce its position in the Gippsland Basin.

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.