05052016Thu
Last update: Thu, 05 May 2016 12am

Asia

Markets - Energy - Asia

Philippines offers 21 sites for geothermal, hydro projects MANILA: The Philippines opened a tender process on Monday for 21 geothermal and hydro sites for exploration and development, hoping to expand its sources of indigenous energy and cut dependence on imported fuel, while offering opportunities to investors. The Department of Energy (DOE) said it had received 39 bids to explore and develop a total of 16 sites - two for geothermal and 14 for hydro - from companies that included Energy Development Corp, the world's largest geothermal company, its parent, First Gen Corp, and AP Renewables Inc, a unit of Aboitiz Power Corp. "We have eight bids for geothermal and 31 bids for hydro and we're very happy with the turnout," Mario Marasigan, director of the DOE's Renewable Energy Bureau, told reporters after the submission of bids. No bids were received for two other geothermal sites and three other hydro areas, but they will be opened for negotiated deals, ...

Markets - Energy - Asia

Oil prices down in Asian trade SINGAPORE: Oil prices fell in Asia on Monday as dealers eyed lacklustre manufacturing data from China, which raised concerns about weak demand from the world's top energy consumer, analysts said.US benchmark West Texas Intermediate fell two cents to $59.13 while Brent eased seven cents to $66.39 in afternoon trade.Financial markets in Japan, Thailand and Malaysia were closed for a public holiday.Analysts said oil prices weakened in reaction to data from global banking giant HSBC showing ...

Markets - Energy - Asia

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia Thursday after first quarter US economic growth fell short of forecasts but a weaker dollar and easing US crude production provided support, analysts said.US benchmark West Texas Intermediate for June was up eight cents at $58.66 in late-morning trade, while Brent for June fell 27 cents to $65.57 a barrel.The US Commerce Department said Wednesday that the world's biggest economy and top oil consuming nation stalled in the ...

Markets - Energy - Asia

Oil prices down in Asian trade SINGAPORE: Oil prices edged lower in Asia Wednesday on expectations the latest US stockpiles report will show a further surge in crude reserves, worsening a global supply glut, analysts said. US benchmark West Texas Intermediate fell 18 cents to $56.88 while Brent crude slipped 16 cents to $64.48 in mid-morning trade. The Department of Energy (DoE) will release its weekly report later Wednesday. Crude reserves are expected to have increased by 2.9 million barrels in ...

Markets - Energy - Asia

Tokyo stocks up 0.50pc by break TOKYO: Tokyo stocks rose 0.50 percent on Tuesday morning, led by a surge in factory robotics giant Fanuc, while investors await full-year earnings by major Japanese firms and a US Federal Reserve policy meeting. The Nikkei 225 index at the Tokyo Stock Exchange added 99.01 points to 20,082.33 by the break, while the Topix index of all first-section shares was up 0.53 percent, or 8.50 points, at 1,627.57.A drop in the yen has lifted hopes ...

Markets - Energy - Asia

China oil executive probed for graft: govt BEIJING: China is investigating a top executive at its largest oil refiner, the anti-corruption watchdog said Monday, as a prolonged graft crackdown targets more state-owned companies.Wang Tianpu, general manager of Sinopec, is being probed for "serious law and discipline violations", a common euphemism for corruption, the Communist Party's Central Commission for Discipline Inspection (CCDI) said in a one-line statement on its website.Wang is also a member of the company's board.The investigation comes ahead of the ...

Markets - Energy - Asia

Oil prices mixed in Asian trade SINGAPORE: Oil prices were mixed in Asia on Thursday as dealers focused on positive signs in a US supply report while tracking the crisis in Yemen, analysts said.US benchmark West Texas Intermediate gained nine cents to $56.25 while Brent crude fell two cents to $62.71 in late-morning trade."We...remain bullish on oil and this hinges on the US crude inventories," said Daniel Ang, investment analyst at Phillip Futures in Singapore.US commercial crude reserves in the period ...