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Energy

Energy
The latest news, analysis and opinion on Energy. In-depth analysis, industry insights and expert opinion.
AirAsia planes are parked on the tarmac at Kuala Lumpur International Airport in Sepang. Photo: AFP
Malaysia

AirAsia X hikes fares by 40%, cut capacity by 10% as Iran war hits fuel costs

Founder Tony Fernandes said the higher prices were ‘unavoidable’ after the average cost of jet fuel more than doubled to US$200 per barrel.

Japan

Japan’s Takaichi seeks urgent summit with Iran as Trump’s Hormuz deadline looms

Hungary

Orban appears to blame Ukraine after explosives found on gas pipeline to Hungary

Australia

Australia receives fuel export guarantees from Singapore, Japan

Australia is seeking to diversify its sources of oil products as a result of the war in Iran and closure of the Strait of Hormuz, including making purchases from the US and Mexico.

Australia’s Prime Minister Anthony Albanese (right) and Singapore’s Prime Minister Lawrence Wong (left) sign a Comprehensive Strategic Partnership Agreement during a Australia-Singapore Annual Leaders’ Meeting, at Parliament House in Canberra, Australia, on October 8 last year. Photo: EPA-EFE
Middle East

UAE, Bahrain and Kuwait lose water, energy infrastructure to Iran strikes

Gulf countries have faced repeated drone and missile salvoes over Iran’s accusation that its neighbours allow US forces to carry out attacks from their territory.

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India

India turns to ‘trusted friend’ Russia for oil supply as Iran war energises ties

The two sides aim to keep their energy trade flowing despite sanctions while balancing against the US and China, analysts say.

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US, Israel war on Iran

Iran attacks Kuwait, Israel after Trump set deadline for deal

Kuwait and Israel say their air defences are responding to the latest attacks from Iran.

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Smoke rises at Kuwait’s international airport after a reported Iranian drone strike on Wednesday. Photo: AFP
US, Israel war on Iran

Trump gives Iran 48 hours to make deal, as US hunts for missing airman

Iran’s General Ali Abdollahi Aliabadi responded by calling the US president’s threat a ‘helpless, nervous, unbalanced and stupid action’.

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US, Israel war on Iran

1 dead in strike near Iran’s Bushehr nuclear plant: IAEA

It is the fourth such incident in recent weeks involving Bushehr, which is closer to Kuwait, Bahrain and Qatar than it is to Iran’s capital.

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US, Israel war on Iran

‘Ease the burden’: 5 EU nations urge tax on energy firms’ profits

As fuel prices spike, finance ministers from Germany, Italy, Spain, Portugal and Austria ‘stand united’ and call for action.

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A pump jack and drilling rig in Texas. File photo: Reuters
US, Israel war on Iran

Asian Angle | Hormuz is sending Southeast Asia a warning – and we can no longer ignore it

The crisis has shown we must invest in renewables rather than staying in a fossil fuel comfort zone.

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People wait to refill their motorbikes at a petrol station in Hanoi, Vietnam, on Monday. Photo: EPA
Pakistan

Pakistan offers free public transport for 30 days following 40% petrol hike

The announcement of free travel for residents of Islamabad and Punjab came after people protested the steep rise in fuel prices.

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South Korea

Softly, softly: why South Korea, France prefer diplomacy over force in Hormuz

Presidents Lee and Macron have agreed to cooperate on safety in the strait but they are likely to wade in only after the war, analysts say.

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US, Israel war on Iran

Iran war: French and Japanese-owned ships make first Hormuz crossings

France and Japan have called for a ceasefire in the conflict, with Macron saying the waterway can only be reopened when the bombing stops.

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A container ship operated by the French CMA CGM shipping company runs into the port of Marseille in June 2018. Photo: AFP
US, Israel war on Iran

US can take Strait of Hormuz ‘with more time’, says Trump

The president spoke out online while the UAE’s largest gas plant and a key Kuwait oil refinery were among Iran’s latest targets.

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US President Donald Trump speaks in the White House on Wednesday. Photo: via TNS
Diplomacy

Opinion | How America’s stumble in Iran upends East Asia’s security calculus

A region where US allies lose faith in Washington won’t necessarily embrace Beijing; it is a region more likely to reach for its own guns.

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Pakistan

‘Why are we paying?’ Pakistanis face up to 54% rise in fuel prices

As the ripple effects of the Middle East war continue, the government says Islamabad will give people free public transport for 30 days.

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New Zealand

New Zealand doctor invoices US embassy for rising fuel costs

Shane Dunphy asked the embassy to reimburse him for the US$1,600 spent on petrol vouchers for his staff so that they could travel to work.

A petrol station in the village of Pauatahanui, in Wellington, New Zealand, on March 27. A surge in oil prices since the start of the Middle East war has sent fuel costs spiralling. Photo: AFP
Malaysia

Malaysia urged to take more aggressive action to tackle energy crisis

Analysts warn of escalating risks to Malaysia’s economy and call for adjusting the subsidy scheme to stop the government from ‘burning cash’.

US, Israel war on Iran

Helium supply shock threatens Asian chipmakers as economic slowdown fears mount

Iranian attacks on Qatar’s LNG facilities are curbing the supply of helium, a crucial gas used in chipmaking.

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Indonesia

Indonesia and Malaysia require geo-tracking for civil servants working from home

As governments roll out work-from-home policies to cut fuel use, civil servants face location tracking and other productivity measures.

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Indonesia and Malaysia have implemented work-from-home schemes for government workers that require strict location monitoring. Photo: Shutterstock
Indonesia

Indonesia rebalances energy policy as Iran war spurs new projects

As oil prices surge, Indonesia aims to reduce its reliance on fossil fuels and intensify the use of crude palm oil for diesel blending.

Japanese Prime Minister Sanae Takaichi meets Indonesian President Prabowo Subianto in Tokyo on Tuesday. Prabowo has invited Japan to develop Indonesia’s nuclear and renewable energy. Photo: Kyodo
US, Israel war on Iran

Immediate reopening of Strait of Hormuz demanded at 40-nation talks

Iran is trying to hold the global economy hostage via its blockade of the waterway, said the UK’s foreign minister, who hosted the meeting.

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US, Israel war on Iran

What will the US do next in its war on Iran? Chinese pundits point to a likely path

With no truce in sight, American forces might be preparing for a short, sharp option, analysts say.

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United States

US crude tops US$110, Wall Street falls after Trump vows more Iran attacks

Crude prices had been inching back towards US$100 per barrel before Trump’s Wednesday address in which he promised more strikes on Iran.

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A trader works on the floor of the New York Stock Exchange at the opening bell in New York on Thursday. Wall Street stocks tumbled early Thursday on the latest jump in oil prices as tough rhetoric between the United States and Iran reduced hopes of a Middle East war resolution. Photo: AFP
Middle East

Macron says military operation to ‘liberate’ Strait of Hormuz ‘unrealistic’

Such an operation would take excessive time and expose those crossing the strait to ‘coastal threats’.

French President Emmanuel Macron leaves Seoul Air Base in Seongnam, South Korea on Thursday. Photo: via Reuters
War and conflict

Opinion | Iran war is changing East Asia’s energy and strategic plays

States like China and Russia that can provide energy, industrial inputs, strategic reassurance or room for manoeuvre are gaining weight.

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US, Israel war on Iran

Trump’s ex-China mineral-alliance plan faces cost surge amid Iran war oil shock

Analysts say Middle East turmoil is elevating commodity input costs, affecting processing efforts and prompting push for ‘friendshoring’ to secure resources.

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