Singapore — Malaysia’s state-run oil and gas company Petronas has completed the acquisition of a 10% stake in a gas field in onshore Oman from Oman Oil Co Exploration & Production or OOCEP. The acquisition was made by Petronas’ subsidiary PC Oman Ventures Ltd or PCOVL in Block 61 from Makarim Gas Development, a subsidiary […]

New Delhi: EuroSports Technologies (EST), Singapore’s home-grown developer of electric motorcycles, on Friday received $2 million of seed capital from its Singapore-listed parent company EuroSports Global (ESG) to accelerate the development of EST’s Singapore-developed electric motorcycle. The motorcycle, code-named “EST-X”, which combines convenience, performance, and intelligence into a single affordable vehicle package, the company said […]

PETALING JAYA: has announced that the Energy Commission has approved higher natural gas tariff for the non-power sector in Peninsular Malaysia, from Jan 1 to June 30.While the higher tariff would be a boon for Gas Malaysia, businesses in Peninsular Malaysia should brace for higher cost of operations. Higher gas tariff would increase cost for […]

JAKARTA – Just a few years ago, when Mr Clifford Lee, head of fixed income at DBS, sounded out potential clients about their appetite for green bonds – debt sold specifically for sustainable purposes like building a wind farm – conversations were short and tended to end with “no”. That’s because green bonds were no […]

Houston — Malaysia’s Petronas will buy LNG from Cheniere Energy under a 20-year agreement that will support building a sixth liquefaction train at the exporter’s Sabine Pass terminal in Louisiana. The long-term offtake deal for approximately 1.1 million mt/year of LNG will be shipped on a free-on-board basis beginning following the date of first commercial […]

Cambodia has reaffirmed its commitment to the United Nations Framework Convention on Climate Change and express serious concern over the multi-faceted impacts of climate change. Eang Sophalleth, secretary of state with the Ministry of Environment and head of the Cambodian delegation to the UNFCCC, said this week in Poland that after the historic agreement in […]

MANILA, Philippines — SN Aboitiz Power Group (SNAP), the joint venture of SN Power of Norway and Aboitiz Power Corp., plans to construct a $28-million battery energy storage system (BESS) at its Magat hydro electric power plant (HEPP). The facility will be used to boost the company’s ancillary services and standby power supply that can […]

The Asian Development Bank (ADB) will invest 5 billion baht (US$155 million) in the maiden green bonds by B.Grimm Power Public Company of Thailand, representing the first certified climate bonds to be issued in Thailand. These details were announced on December 11. The transaction comprised of two tranches – five years and seven years – […]

BANGKOK — The power generating arm of Thailand’s oldest industrial group, B. Grimm, has issued 5 billion baht ($152 million) in “green bonds” to raise funds for further investment in its renewable energy business. “We invested a lot in Vietnam, and we are now looking for business opportunities in Malaysia, Laos, Cambodia and the Philippines,” said Preeyanart Soontornwata, president of […]

With climate change expected to take a devastating toll on Southeast Asia, Indonesia, one of the world’s biggest emitters of greenhouse gases and a country likely to be disproportionately affected by extreme weather conditions, is looking to take action. President Joko “Jokowi” Widodo has committed to cut emissions by at least 29 per cent by […]