oil
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Business
Nusantara Gas Axis
Indonesia has proven and potential gas reserves of around 100 trillion cubic feet, still the largest in Southeast Asia (ASEAN). If optimized, gas reserves can become a new axis of economic power. Domestically, it can stimulate industrial growth and economic activity. In regional areas, gas can be an alternative…
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Politics
Kazakhstan to launch its own tankers in Caspian, Black seas
By Kuban Abdymen ASTANA: Kazakhstan is actively acquiring tankers to transport its oil through the Caspian and Black seas, Bloomberg reports citing the Kazakh oil and gas company “KazMunayGas.” The mass acquisition of tankers is seen as a sign that the country, which is the largest oil producer in Central…
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Business
Elation, pride in Cambodia as its first drop of oil makes history
By Chhay Sophal Thisiscn, Cambodia PHNOM PENH: Waiting for years, Cambodia’s dream is becoming true on Tuesday and it is the Kingdom’s pride under Prime Minister Hun Sen’s government leadership. The APSARA oil field in Block A can ease import petroleum products and it can make the Kingdom move…
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Politics
Moon, Saudi crown prince discuss global response to attack on oil facilities
Seoul: The leaders of South Korea and Saudi Arabia agreed Wednesday to strengthen partnerships in the fight against terrorist acts, such as the recent drone attack on oil facilities in the Middle Eastern nation. In phone talks, President Moon Jae-in and Crown Prince Mohammed bin Salman also emphasized the importance…
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South East Asia
Threat of energy crisis in Indonesia
The further erosion of Indonesia’s oil production is a real threat and it cannot be denied that it is a burden on state finance. The government must provide Rp.1 trillion per day to import oil so that Indonesia’s daily oil needs are met. Until now the country’s oil production meets only…
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West Asia
4th anniversary of The Joint Comprehensive Plan of Action
July 14th was the 4th anniversary of The Joint Comprehensive Plan of Action. It is known as the agreement on the Iranian nuclear program reached in Vienna on July 14, 2015, between Iran, the P5+1, and the European Union. Rohani government reached the agreement after 23 months of breathless dialogue and…
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Central Asia
Russia and Iran in oil swap talks
Tehran is in talks with Russian companies on petroleum swap deals, Iran’s deputy oil minister for international affairs Amirhossein Zamaninia said. “Yes, we are,” he said when asked whether the country is in talks with Russia on swap deals, Financial Tribune reported cting TASS. According to deputy minister, initially the…
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East Asia
Japan trading houses eye resuming Iran oil imports
Japanese traders including Marubeni Corp. and Sumitomo Corp. that stopped buying Iranian oil during western sanctions are looking to resume imports, potentially by year-end, industry sources said, The Japan Times reported. Conservative Japanese firms have so far held off taking Iranian crude due to a lack of internationally acceptable insurance…
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Central Asia
Iran Ready for Oil Swap with Caspian Neighbors
An official with the Iranian Oil Terminals Company (IOTC) says Iran can swap up to 120,000 b/d of crude oil with its northern neighbors at North Oil Terminal, Shana reports. Hamid Reza Shadoust, a local IOTC official in the city of northern city of Neka, said on August 16 that…
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West Asia
Azerbaijan allocates $850M for refinery construction in Turkey
Azerbaijani State Oil Fund (SOFAZ) has allocated $844 million as of July 1, 2016, as part of the country’s financing the project of construction of a new oil refinery of Azerbaijan’s SOCAR in Turkey, SOFAZ told Trend. In accordance with the decree of Azerbaijani President Ilham Aliyev on additional measures…
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