The Indonesian government’s fiscal support for fossil fuels is still too large, so it has the potential to slow down the energy transition and drain the public budget, according to the International Institute for Sustainable Development (IISD).

The government is curbing imports of liquefied natural gas due to surging prices, potentially putting the country at risk of fuel shortages.

Singapore’s Sembcorp Marine (SGX:S51) has released the financial and operating metrics of its proposed combination with a restructured Keppel Offshore and Marine (Keppel O&M) (SGX:BN4) in a response to queries from its shareholders that fear share dilution.

Thailand’s cabinet on Tuesday extended measures to support energy prices and tourism, and approved plans to seek a contribution from refineries to boost the country’s depleted oil fund. The measures came as Thai headline inflation hit a near 14-year high of 7.1 per cent in May, driven by rising oil prices.

The incoming presidential administration is bracing for the impact of an oil price shock caused by a surge in demand as economies around the world reopen over two years after the start of the pandemic, aggravated by Russia’s invasion of Ukraine.

Oil firms are expected to implement another increase in the prices of fuel products starting June 21, the Unioil Petroleum Philippines said.   According to the forecast, per-liter prices of diesel may increase by ₱2.50 to ₱2.60, while gasoline prices may go up by ₱0.50 to ₱0.60 per liter.

First Gen’s Interim Offshore LNG Terminal project in the Philippines has been delayed and the company has asked BW Gas to delay the delivery of the floating storage and regasification unit (FSRU) BW Paris from Q1 2023 to end of Q2 or early Q3 2023.

South Africa is ready to assist the Philippines when it comes to providing supply of oil and petroleum products, according to its envoy on Wednesday. Ambassador of South Africa Bartinah Ntombizodwa Radebe-Netshitenzhe paid a courtesy call on President-elect Ferdinand “Bongbong” Marcos Jr. where they tackled the bilateral ties between the Philippines and South Africa.

Qatar yesterday named France’s TotalEnergies as its first foreign partner to develop the world’s largest natural gas field and eventually help ease Europe’s energy fears. The French energy major will have a 6.25% share of the giant North Field East project that will help Qatar increase its liquefied natural gas (LNG) production by more than […]

Oil firms are set to implement a major hike in pump prices of petroleum products this week, marking the second straight week of increases. In separate advisories, Chevron Philippines Inc. (Caltex), Flying V, Petron Corp., Pilipinas Shell Petroleum Corp., and Seaoil Philippines Inc. said they will hike prices per liter of gasoline by P2.15, diesel […]