News Clipping Archive - Page 773 of 1313

Energy Cooperation ,
Oil & Gas

The Strategic Significance of Vietnam-US Oil and Gas Cooperation

7 September 2020

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Vietnam

As a fast-growing economy, Vietnam’s demand for energy is projected to increase by between 8.5 and 9.5 percent annually over the next five years. Together with the need to reduce its dependence on coal-fired power plants, this has led Vietnam to explore alternative energy sources. In addition to investing in renewable energy, Vietnam is also seeking to work with United States-based partners to develop oil and gas supplies and gas-fired power plants—an effort fueled by strategic calculations, as well as purely economic motivations.

Renewables

A Middle Way for Green Energy

7 September 2020

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Indonesia

The presidential regulation draft for purchasing new and renewable electricity from state power company PLN is completed. In August, the discussions between ministries started to lead towards an agreement.”It is still being harmonized by the justice and human rights ministry,” Ida Nuryatin Finahari, director of geothermal energy at the energy and mineral resources ministry, said on Wednesday, September 2.

Renewables

Unioil sets off price rollback

7 September 2020

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Philippines

Consumers can expect a price rollback of as much as P0.50 per liter of pump prices this week due to the slump in demand from the United States, one of the world’s biggest consumers of oil products. “Diesel should go down by P0.40 to P0.50 per liter and gasoline by P0.30 to P0.40 per liter,” Unioil Philippines said.

Oil & Gas ,
Renewables

Petronas to deepen push into RE after posting RM21b loss

7 September 2020

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Malaysia

PETROLIAM Nasional Bhd (Petronas) is looking to expand its renewable-energy (RE) portfolio, after posting a RM21 billion loss due to weak oil prices and sluggish demand amid the Covid-19 pandemic. Its president and group CEO Tengku Muhammad Taufik Tengku Aziz (picture), who took the helm in July this year, categorised the current state of the oil and gas (O&G) industry as a “great reset”. “The unprecedented and challenging market conditions have significantly impacted the industry and as you have seen, Petronas was not spared,” he said at a media briefing in Kuala Lumpur last Friday.

Electricity/Power Grid

DOE cites up to 25% oversupply of power amid lockdown

7 September 2020

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Philippines

Metro Manila (CNN Philippines, September 7) — The country’s power grids are running on excess capacity since lockdowns due to the pandemic began, the Department of Energy said. “There was a reduction in demand during the period of March to June, somewhere between 20-30 percent. Our surplus reserve capacity we had during the pandemic ranges also from around 20-25 percent,” Energy Secretary Alfonso Cusi told the House of Representatives on Monday. “The loss was experienced by the gencos (generation companies),” he added, referring to the decline in sales and profit.

Electricity/Power Grid ,
Energy Policy

MoE working with S’wak govt to ensure full electricity supply for rural schools

7 September 2020

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Malaysia

KUCHING: There are 350 schools in Sarawak experiencing electricity supply issues, said Deputy Education Minister I Muslimin Yahaya. He said out of the total, 128 schools will be implemented by the Sarawak government involving an allocation of RM50 million. “On the other hand, a total of 95 schools will be handled by the Public Works Department (JKR) Malaysia through an allocation from the Ministry of Education,” he said in response to a question by Senator Rita Sarimah Patrick Insol at the Dewan Negara session in Kuala Lumpur today.

Oil & Gas

Bursa energy gauge retreats after US crude oil slips below US$40/barrel

7 September 2020

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Malaysia

KUALA LUMPUR (Sept 7): Bursa Malaysia’s energy index settled down more than 1% at afternoon break today after US crude oil prices slipped below US$40 a barrel on Friday before extending losses today as investors weighed factors including the impact of the Covid-19 pandemic on demand for the commodity and Saudi Arabia’s price cuts for supply of crude oil to Asia.

Electricity/Power Grid

Chinese firm to run Laos electric grid amid default warnings

7 September 2020

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Lao PDR

The poor, small Southeast Asian country of Laos is set to cede majority control of its electric grid to a Chinese company, as it struggles to stave off a potential debt default, people with direct knowledge of the agreement said. The deal comes at a time when critics accuse Beijing of “debt trap diplomacy” to gain strategic advantage in countries struggling to repay loans taken out under President Xi Jinping’s global “Belt and Road” infrastructure initiative. China is Laos’s biggest creditor, and the deal will bind the landlocked, mountainous country of seven million people closer to its giant neighbour.

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