MANILA, Philippines — The year 2018 put the spotlight on the Philippines’ dependence on imported fuel to power up the country’s progress and day-to-day operations. This was validated by the latest Energy Trilemma Index of the World Energy Council, which ranks 125 countries in three dimensions – environmental sustainability, energy security and energy equity. The […]

PETALING JAYA: Oil and gas company has secured contracts worth RM760mil in Angola and Malaysia that boosted the combined value of project wins in current financial year ending Jan 31, 2019 to RM9.3bil. The company, in a statement on Monday, said the growing order book will see a higher utilisation of its assets. In Angola, […]

MANILA, Philippines – Pump prices will increase on Tuesday, January 8, amid movements in the world market, various oil companies confirmed. Caltex, Shell, PTT Philippines, Petrogazz, Phoenix Petroleum, and Eastern Petroleum will increase P0.70 per liter on diesel and P0.80 per liter on gasoline. The changes will be implemented starting 6 am Tuesday. The Department […]

SINGAPORE, Jan 4 (Reuters) – Light distillate fuel stocks at Asia’s refining hub in Singapore have climbed to a record on surging supply, just as fears emerge of an economic downturn heading into 2019. Light distillate stocks in Singapore, which include the key transportation fuel gasoline and important petrochemical feedstock naphtha, rose by 1.47 million […]

The oil and gas sector is looking exciting this year, with opportunities emerging from an international tender scheduled to take place early this year for the first time since 2014. In addition to onshore and offshore blocks, the tender is expected to include work in “Improved Petroleum Recovery” blocks at older oil fields in Myanmar. […]

JAKARTA: Indonesian state energy company PT Pertamina has signed deals to purchase crude oil produced from domestic fields by Chevron Corp, PetroChina and others, a company source familiar with the matter said. Purchases will start this month, including from other contractors such as Petrogas and Saka Energi Indonesia, the person said on Friday, without disclosing […]

The Energy Department officially recommended to the Department of Foreign Affairs the lifting of the moratorium on oil and gas exploration in the West Philippine Sea amid the enhanced relations between China and the Philippines, officials said. Energy Resource Development Bureau director Ismael Ocampo said the recommendation was submitted to the DFA, on the request […]

Mumbai INDIA has cut import taxes on crude and refined palm oil from South-east Asian countries after a request from suppliers, a government notification said. The reduction will lead to higher imports of palm oil by the world’s biggest edible oil buyer in coming months as it would narrow the difference between the tropical vegetable […]

Singapore — Indonesian oil and gas group Medco Energi is in talks to buy UK-based Ophir Energy to create one of the biggest private upstream producers in Southeast Asia, the two companies said separately. Shares in London-listed Ophir — an oil and gas company with upstream assets in Thailand, Vietnam, Indonesia, Malaysia, Equatorial Guinea and […]

PETALING JAYA: Amid an uncertain oil and gas (O&G) environment, it would seem that a floor price for crude oil has been fixed at US$60 per barrel since the collective agreement by global oil producers to cut supply. This development bodes well for Malaysia, both the government and local O&G industry players, as it signifies […]