Oil resumes slide on worries Middle East rift could sap drive to cut output

Oil prices on Tuesday resumed their slide from the previous session, hit by concerns that a political rift between Qatar and several Arab states would undermine an OPEC-led push to tighten the market. Persistent gains in U.S. production also dragged on benchmark crude prices, traders ...

PTTEP freezes new investment in Indonesia

PTT Exploration and Production, Thailand’s state-owned oil and gas company, said on Tuesday that it will halt all new investments in Indonesia until a dispute with the government there over an oil spill in 2009 is settled. “As of today, PTTEP made the decision to suspend ...

Residents yet to get Myanmar-China pipeline compensation

Despite the fact that the Myanmar-China pipeline has started to import oil, local residents have yet to receive the compensation due to them for damage to their crops arising from digging works on the pipeline. Crops had been pressed down by soil and landslides have occurred ...

Biofuel plan may fail as ethanol plants face production problems

The plan to make a switch from the popular RON A92 petrol to biofuel E5 by January 1, 2018 may fail as ethanol plants have become bogged down in difficulties. Deadlines for replacing A92 petrol with E5 biofuel have been set up, but all of them ...

No hike in petrol price during Thingyan: MPTA

The public can be assured that petrol prices will not increase during the Thingyan period, Dr Win Myint, secretary of the Myanmar Petroleum Trade Association (MPTA) said. He said this at a press conference on Wednesday at the main office of the Union of Myanmar Federation ...

NLA members face tough choices in bid to reform energy sector

The National Legislative Assembly is set for a showdown over a contentious bill to reform the energy sector with the establishment of a new national oil company. The bill will be debated in the second and final readings today, while the vote is likely to be ...

What Thailand can learn from Mexico on energy reform

As has been done for almost 80 years, Mexico last Saturday commemorated the so-called “Oil Expropriation Day”, a national holiday marking the nationalisation of the Mexican oil industry by the government of President Lazaro Cardenas in 1938. But this year’s celebration was particularly at odds with ...

Energy market opens up

Thailand has resumed liberalising its energy sector, opening it up to competition again after a decade of policy hiatus when global oil prices were well over US$100 a barrel. During this period, the costs of electricity and gas for the people were heavily subsidised by ...

Oil imports lift US trade deficit

The US trade deficit jumped to a near five-year high in January as rising oil prices helped to push up the import bill, pointing to slower economic growth in the first quarter and posing a challenge for the Trump administration. President Donald Trump took office ...

Export value jumps 8.8% in January as oil prices rise

Export value in January grew by 8.8 per cent to US$17.09 billion, after higher oil prices resulted in more revenue from oil by-products, according to the Commerce Ministry. The ministry on February 27 reported that the value of January imports rose by 5.17 per cent to ...

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