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 […]

Malaysian oil and gas company Petronas plans to introduce liquefied natural gas (LNG) bunkering operations at the country from the second half of 2019. “As a major player in the LNG business, PETRONAS is well-positioned to support the strategic intent for Malaysia to become the regional LNG bunkering hub,” it said in the Petronas Activity […]

KUCHING: Sarawak Chief Minister Abang Johari Openg today clarified that only the export sales tax will be imposed on petroleum products. Clarifying that there would be no multi-layer sales tax on petroleum products, he said there was a lot of misunderstanding on the export sales tax for petroleum and gas product,s which was announced in […]

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 […]

PUTRAJAYA, Dec 14 — No electricity surcharge will be levied on domestic users in Peninsular Malaysia from January 1 to June 30, 2019, although the government agreed to continue implementing the imbalance cost pass-through (ICPT) mechanism during this period, says the Energy Commission (EC). The commission said this followed the government’s decision to use the […]

SINGAPORE: Singapore petroleum company Coastal Oil Singapore Pte Ltd has entered liquidation as of Dec. 13, according to the Accounting and Corporate Regulatory Authority. The company has decided to wind up but no other information was available. Coastal Oil declined to comment when contacted. Coastal Oil is a subsidiary of Hong Kong-incorporated Coastal Holdings and […]

Climate change is a pressing global issue that countries need to combat not only in their individual capacities but also at an intergovernmental level. Given the degree of the threat faced by communities worldwide, discussions around climate have come to the forefront of the global collaboration agenda. All eyes were on the 24th Conference of the Parties […]

MANILA, Philippines — The European Union (EU) Delegation to the Philippines on Thursday said the EU and the Philippines signed seven contracts for projects that would offer “clean energy” to 40,000 households in the country. The EU said they allocated €21 million for the projects which would contribute to the Department of Energy’s goal of […]