Asia & Australia – Page 5

UPDATE 2-US and Japan announce joint partnership to accelerate nuclear fusion

April 10, 2024

Yahoo Finance WASHINGTON – The United States and Japan announced a joint partnership to accelerate development and commercialization of nuclear fusion, the U.S. Department of Energy said on Wednesday. The partnership was announced as Japanese Prime Minister Fumio Kishida was in Washington for a summit with President Joe Biden. U.S. Deputy Secretary of Energy David Turk and the Japan Minister

Chevron leaves Myanmar

April 9, 2024

Oil Price U.S. supermajor Chevron has quit operations in Myanmar by transferring its stake in a natural gas field and an associated pipeline to its former partners in the ventures, after pledging to leave the Southeast Asian country following a military coup in 2021. “The withdrawal gives effect to our intention to exit Myanmar in a controlled and orderly manner,

Risks From China’s Demographic Crisis- Why China’s long-term economic outlook is complicated by an aging population and shrinking labor force

April 9, 2024

Oil and Gas 360 Energy Shots (Mobius Risk Group): Why China’s long-term economic outlook is complicated by an aging population and shrinking labor force. Summary: Long-Term Growth Handicapped by Aging Population: China’s hopes to become a high-income developed country must reconcile an aging population and a shrinking working class. The country’s infamous “one-child” policy from 1980-2015 created a demographic crisis

Energy firms boost gas exploration in Southeast Asia to meet growing demand

March 1, 2024

Nasdaq KUALA LUMPUR – Energy companies are ramping up exploration activities in Southeast Asia to boost natural gas output and meet long-term demand growth, drawn by recent discoveries and improved investment policies, company executives and analysts said. Malaysia and Indonesia have recently seen successful upstream discoveries, including a major discovery by Mubadala Energy in the South Andaman Block, following years of underinvestment in

How China is tightening its noose on critical minerals

February 13, 2024

Oil Price The historic Inflation Reduction Act (IRA) of 2022 took bold steps towards promoting U.S. production of critical minerals, with a dual-pronged goal of supporting a rapid energy transition and lessening U.S. reliance on China and Russia, two countries the U.S. the Department of Energy has tagged “foreign entity of concern” (FEOC). According to the United States Geological Survey,

Japex sees U.S. as ‘enticing’ destination for energy exploration

February 9, 2024

Nasdaq TOKYO – Japan Petroleum Exploration (Japex) 1662.T sees the United States as the most appealing investment destination for oil and gas exploration and production, despite political risks posed by this year’s election, its senior managing executive officer said on Friday. “With its wealth of natural resources, low production costs, and well-developed infrastructure, we view the United States as the most

Oil slips on China economic headwinds

January 30, 2024

Investing LONDON – Oil prices edged lower on Tuesday, extending a more than 1% drop in the previous session on China’s economic outlook, though losses were kept in check by supply fears driven escalating tensions in the Middle East. March Brent crude futures, which are due to expire on Wednesday, fell 52 cents, or 0.6%, to $81.88 a barrel by 1413 GMT.

Latin America: The next chapter in China’s global economic strategy

January 25, 2024

Oil Price For decades, China has been a key driver of global economic growth thanks to an economy that managed to maintain blistering growth for what seemed like forever. China’s economy ballooned from $1.2 trillion in 2000 to nearly $18 trillion in 2021, good for a nearly 10% annual clip ever since Beijing embarked on economic reforms in 1978. The

Europe, Africa crude market tightens on Red Sea disruptions, China demand

January 19, 2024

Nasdaq The Brent crude market structure and some physical markets in Europe and Africa are reflecting tighter supply resulting partly from concern about shipping delays due to vessels avoiding the Red Sea, according to traders, LSEG data and analysts. The disruptions have combined with other factors such as outages and rising Chinese demand to increase competition for crude supply that

Philippines to begin exploration activities in oil-rich sea amidst China tension with U.S. as defense ally

January 18, 2024

World Oil (Bloomberg) – The Philippines is building defense alliances with the U.S. and other security partners to help pave the way for resource exploration in the oil-and-gas-rich South China Sea, the nation’s top defense official said, prompting a warning from Beijing. “I really do think it’s quite urgent that we start now,” Defense Secretary Gilberto Teodoro Jr. said in

Iran withholds oil deliveries as it seeks higher prices from China

January 5, 2024

Oil Price Iran seeks higher prices for its crude going to its top customer, China, and has been withholding some supply, Reuters reported on Friday, citing trading and refinery sources. China has continued to buy cheaper crude from Iran even after the U.S. re-imposed sanctions on Iranian oil in 2018. But now Iran is reportedly seeking narrower discounts to Brent for its crude supply

Oil prices at 2-1/2 month lows as China data offset supply cuts

November 7, 2023

Investing LONDON – Oil prices hit fresh 2-1/2-month lows on Tuesday as mixed economic data from China offset the impact of Saudi Arabia and Russia extending output cuts. Brent crude futures were down $1.45, or 1.7%, to $83.73 a barrel as of 1242 GMT while U.S. West Texas Intermediate crude was at $79.58 a barrel, down $1.24, or 1.53%. Both

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