State-owned energy holding company Pertamina lowered the prices of its subsidized and non-subsidized gasoline by up to Rp 800 (6 US cents) per liter on Sunday, a move some consider political ahead of the presidential election in April. Although proposals to lower or increase fuel prices are made by Pertamina or other fuel distributors, they […]

The world oil market suffered from unpredictable developments last year. Geopolitical instability in the Middle East, the Organisation of the Petroleum Exporting Countries (OPEC) cut supply, and the trade war between the US and China have resulted in turmoil in the market. After falling prices in the first two months of 2018, the world crude […]

The Kingdom of Cambodia is continuing to upgrade the country’s infrastructure to attract business and industry investment. This includes upgraded highway conditions, greater access to hydro power and the most important from an investor point of view, adopting anti-corruption laws. The improvements extended to the establishment of the Cambodian Association for Mining and Exploration Companies […]

The state-run giant (Petrovietnam or PVN) reported revenues of VND626.8 trillion ($26.92 billion), 18 percent higher than the target and a year-on-year rise of 26 percent. As of December 10 it had achieved its domestic crude oil production target of 11.31 million tons. Total oil and gas output reached 23.98 million tons (gas converted into […]

TORONTO, Feb. 06, 2019 (GLOBE NEWSWIRE) — Angkor Gold Corp. (TSXV: ANK and OTC:ANKOF) (“Angkor” or “the Company”) CEO Stephen Burega is pleased to announce that Angkor is actively pursuing oil and gas opportunities in Cambodia in addition to its ongoing mineral exploration projects. “Angkor is currently in discussions with Cambodia’s oil and gas authorities […]

Hanoi (VNA) – Vietnam’s oil and gas output hit an estimated 2.05 million equivalent tonnes in January, surpassing the monthly target by 5.8 percent. According to the Vietnam Oil and Gas Group (PetroVietnam), of the sum, oil exploitation volume was 1.13 million tonnes and gas output reached 0.92 billion cubic metres, 3.7 and 8.6 percent […]

Vietsovpetro, a Vietnam-Russia oil joint venture, has started crude oil production at the Ca Tam field offshore southern Vietnam, Vietnamese state oil firm PetroVietnam said on Jan. 28. Initial production from Ca Tam, jointly developed by Vietsovpetro, PetroVietnam Exploration Production Corp. (PVEP) and Bitexco Group, is 1,630 tonnes per day, PetroVietnam said in a statement. […]

MANILA, Philippines – Fuel prices will once again rise on Tuesday, January 29, as global forces place pressure on the commodity. Shell, PTT Philippines, Total, Unioil, and Petro Gazz will jack up diesel prices by P0.55 per liter and gasoline by P0.20 per liter. Companies which carry kerosene will also increase its price by P0.40 […]

HÀ NỘI — Plummeting oil prices in the fourth quarter of 2018 have negatively affected the production and business efficiency of enterprises. This has increased caution and forced them to set prudent plans for this year. PetroVietnam Oil Corporation (PV Oil), the second-largest petrol dealer in the country, plans to earn revenue of VNĐ49 trillion […]

Hanoi (VNA) – Politburo member and head of the Party Central Committee’s Economic Commission Nguyen Van Binh on January 25 stressed the need to complete institutions for the development of the oil and gas sector. During a working session with leading officials of the Vietnam National Oil and Gas Group (PetroVietnam), Binh asked the group […]