05292016Sun
Last update: Sun, 29 May 2016 02pm

Asia

Markets - Energy - Asia

Gas Malaysia to raise gas price by 10.3pc from July 1 KUALA LUMPUR: Gas Malaysia Bhd , Malaysia's sole supplier of natural gas except to the power sector, said on Tuesday evening gas prices supplied to commercial and industrial sectors would rise by an average of 10.3 percent from July 1.The tariff adjustment comes seven months after the last revision in October as part of a previous government plan to cut subsidies and reduce its budget deficit.The gas tariff in Peninsular Malaysia will increase to 21.80 per million British thermal units (mmBtu) from 19.77 ringgit per mmBtu, Gas Malaysia said in a stock exchange filing.Gas Malaysia said the increase was due to higher buying price of the fuel that it procured from state oil firm Petroliam Nasional Bhd. The gas price hike is not applicable to households that use liquefied petroleum gas, it added.Copyright Reuters, 2015 ...

Markets - Energy - Asia

Japan seeks 44,000 tonnes LPG for national reserves TOKYO: State-run Japan Oil, Gas and Metals National Corp (JOGMEC) issued a tender on Monday to buy liquefied petroleum gas (LPG) to store in its national reserves.JOGMEC is seeking 44,000 tonnes of propane for the stockpiling base in Namikata in Ehime prefecture, it said in a statement. The tender will be held on June 22, with offers to be evaluated the same day.Japan, which has five national LPG stockpiling bases with a total capacity of ...

Markets - Energy - Asia

Oil prices rise ahead of OPEC output meeting SINGAPORE: Oil prices rose in Asia Friday but gains were capped before a key meeting of the OPEC cartel, which is expected to maintain its current production levels despite an oversupplied global market. US benchmark West Texas Intermediate for July delivery edged up three cents to $58.03 while Brent crude for July gained 13 cents to $62.16 in late-morning trade. "It seems like the same rhetoric will continue (and) OPEC is not going to change ...

Markets - Energy - Asia

Japan shares head for record rally, dollar extends gains HONG KONG: Japanese shares rose for a 13th session Tuesday, equalling a record rally, thanks to the weak yen, while Greece's creditors held impromptu talks aimed at resolving the country's months-long debt reform crisis.Mainland Chinese shares also picked up, adding to the previous day's surge and helping to almost wipe out a near seven percent slump over Thursday and Friday.Tokyo rose 0.12 percent -- marking its best run of gains since 1988 -- while Shanghai ...

Markets - Energy - Asia

Thailand's EGAT says signs deal with Tepco on LNG import cooperation BANGKOK: State-run Electricity Generating Authority of Thailand (EGAT) has signed a preliminary agreement with Tokyo Electric Power Co (Tepco) to co-operate on impots of liquefied natural gas (LNG) to Thailand, a senior EGAT official said on Friday.Thailand is expected to import a large amount of LNG to help offset falling domestic gas supply and the plan will not affect PTT PCL, the country's sole gas supplier, Prapas Vichakul deputy governor for fuel told reporters.LNG is ...

Markets - Energy - Asia

Oil prices up in Asian trade SINGAPORE: Oil prices edged higher Friday following a mixed US petroleum report that showed a healthy decline in crude and gasoline reserves but a rise in oil production that could aggravate the global supply glut. US benchmark West Texas Intermediate (WTI) for July rose 66 cents to $58.34 and Brent crude for July gained 48 cents to $63.06 in late-morning trade. Daniel Ang, investment analyst at Phillip Futures in Singapore, said in a commentary that ...

Markets - Energy - Asia

Middle East Crude-Cash Dubai, DME Oman flip to premiums SINGAPORE: Cash Dubai strengthened in the Middle East crude market on Thursday, boosted by purchases from Shell and Unipec on the window.The benchmark flipped into a premium of about 40 cents against swaps after Shell bought July Dubai partials from Chinaoil at $61.10 a barrel, traders said. DME Oman also strengthened to a premium against Dubai swaps.The July-September spread narrowed to parity after Unipec bought a September partial from Trafigura at $61.10 a barrel.The narrower ...