Eni and Petronas establish joint gas venture in Southeast Asia
After signing an agreement for investment in November, Eni of Italy and Petronas of Malaysia have created a joint venture that combines energy businesses throughout Indonesia and Malaysia. This move is part Eni's "satellite strategy" to separate specific assets and develop them independently with the assistance of a partner. In a joint announcement, the companies stated that the new company named Searah will begin with a production base of more than 300,000 barrels per day and aim to reach 500,000 boe/d within three years. It will have a portfolio of 19 assets for?gas production and development, with 14 in Indonesia and 5 in Malaysia.
Indonesia coal export shake-up rattles miners, traders
Indonesia's plan for coal exports to be routed through a state firm has alarmed traders and miners, who are concerned about its viability at a time of?increased coal demand due to liquefied gas (LNG), supply disruptions caused by the Iran War. The President of Indonesia Prabowo Subianto announced on Wednesday that all exports, including coal, palm oil, and ferroalloys, must go through the state-owned Danantara Sumberdaya Indonesia. This move is intended to increase revenue and stabilize the rupiah, but has nonetheless caused investor anxiety. Southeast Asia accounts for half of global electricity-grade coal trade.
MPOC: Crude palm oil price to remain around $1.110/ton by June.
The Malaysian Palm Oil Council stated that the price of crude palm oil is expected to remain at around 4,400 Ringgit ($1,110), per metric ton, in June. This is because global biofuel policies are supporting demand and weather risks increase supply uncertainty. The MPOC stated that the recent biofuel developments in America have improved palm oil's competitiveness on major markets. Malaysia will begin producing biodiesel next month with a blend of 15% palm oil, called B15. Meanwhile, Indonesia plans to increase its mandatory level of palm oil in biodiesel from 40% to 50% by July.
Seraya considers selling or listing offshore wind company Cyan, CIO reports
Seraya Partners, a Singapore-based investment firm, is considering a dual track process for Cyan Renewables, its offshore wind services company. This could lead to a sale of the company or an IPO. According to a person with knowledge of the situation, Cyan, a Singapore-based marine service company that focuses on renewables, may be worth as much as $2 billion. Infrastructure-focused private equity firm Seraya Partners is assessing strategic options for Cyan after receiving several offers to acquire the company, said James Chern, managing partner and chief investment officer, as strong demand for vessels and a limited global supply push up valuations ?across the sector.
Inpex, Japan's oil company, raises its full-year profit estimate as oil prices rise
Inpex, Japan's largest oil and gas exploration company, raised its net profit forecast for the full year on Wednesday. It cited higher than expected crude oil prices as well as a weaker Japanese yen in light of the Middle East crisis. Inpex has revised its 'net profit forecasts for 2026 to a range between 350 billion yen and 450 billion (US$2.2 billion-$2.9billion) from an earlier estimate of 330billion yen. The revised outlook indicates a drop of 11% to an increase of 14% from the previous year. Daisuke Yamada, Senior Managing Director of the company, told reporters that they adopted a "range-based" outlook because there was uncertainty about the Middle East conflict.
Eni's Geliga-1 discovery has strong test results off Indonesia
Eni, the Italian energy company, announced on Thursday that its Geliga-1 gas find?offshore Indonesia had produced strong test results. These confirmed high reservoir productivity as well as a potential for fast-track development. Eni holds a 82% stake in the discovery, which is located within Ganal PSC. Sinopec, a Chinese company, holds the remaining 18%. The Ganal PSC will be included in a portfolio consisting of?19 blocks, 14 in Indonesia and 5 in Malaysia. These blocks will be transferred to Searah - the company controlled jointly by Eni and Malaysian Petronas.
Russell: The war between Iran and the US will supercharge Asia’s transition from fossil fuels towards electrons.
The U.S.-Israeli war against Iran has turned out to be an 'aha moment' for Asia. This is the continent that is most vulnerable to the loss of crude and liquefied gas through the still mostly closed Strait of Hormuz. China was largely responsible for the electrification of this region, which is home to the world's fastest-growing population. The ripple effect from the loss of?of?about 10 million barrels of crude and refined products per day (bpd), and around 20% of global LNG, is proving to be a game changer. Industry professionals now consider that the rapid deployment of BESS in Southeast Asia and South Asia…
US sets preliminary antidumping duty on solar imports of India, Indonesia and Laos
The U.S. Commerce Department announced preliminary antidumping duty on'solar panels and cells imported from India, Indonesia, and Laos. This is the latest in an arbitrary series of tariffs that have been imposed on solar imports for over a decade. Federal trade officials found that the companies from the three countries had dumping cheap goods on the U.S. market and undercutting American manufacturers. In a factsheet posted on the Commerce Department website, the agency calculated dumping margins (preliminary duty rates) of 123.04%?for imports coming from India, 35.17 % for imports coming from Indonesia and 22.46% for imports coming from Laos.
China's solar panel exports reach record levels in March due to Africa and Southeast Asia
China's solar panels exports reached a new record in March, according to data from China's customs and industries. Southeast Asia and Africa stocked up ahead of anticipated price increases, and the fallout of the Iran war also boosted demand. Exports of panels jumped 42.2% in March to reach 1.75 million metric tonnes, which is equivalent to 13.3% in 2025. Chinese customs data revealed that the shipments had a value of $3.61 billion. This was up 67% compared to a year ago and 125% compared to February. Analysts said that countries in Southeast Asia and Africa rushed into importing panels to avoid price hikes due to China ending its export tax rebates on April 1.
Japex wants to quadruple its oil and gas production in 10 years; it is looking at US expansion
Japan Petroleum - Exploration said Wednesday that it planned to quadruple its oil and gas production over the next decade. It will invest 1.16 trillion yen (7.3 billion) into 'exploration and production', mainly in the United States. Michiro Yamashita, the company's president, said that more than half of the 1.1 trillion yen budget for overseas E&P will be allocated to the United States. Yamashita stated that "we expect more than half of the investment will go to the U.S. He said that the remainder would be divided?roughly evenly between Norway and Southeast Asia with an emphasis on Indonesia.
Shell CEO warns that energy shortages could occur in Europe by the end of next month.
Shell CEO Wael Sawan warned on Tuesday that energy shortages in Europe could occur by the end of next month. Sawan added that Shell is working with governments in order to address the energy crisis. This includes storage and purchasing. Sawan said that the Middle East conflict has already impacted jet fuel supplies. Diesel and gasoline will follow as the summer driving season begins in Northern Hemisphere. The war has caused major damage to energy facilities, and shipping through the Strait of Hormuz was nearly stopped. This area is responsible for 20% of all global oil and LNG flows. South Asia took the brunt of it first.
European Energy Shortages Could Be Felt By April
Energy shortages could hit Europe by next month, Shell CEO Wael Sawan said on Tuesday, adding that securing adequate energy supply was critical to national security.Countries cannot have national security without energy security, Sawan said, adding that Shell was trying to work with governments to help them address the energy crisis, including with storage and purchasing. The Middle East conflict, now in its fourth week, has already affected supplies of jet fuel, with diesel set to be next, followed by gasoline as summer driving season gets underway in the Northern Hemisphere…
Thailand orders bureaucrats in its energy-saving drive to use stairs instead of elevators and to work from home
A government spokesperson said that the Thai Prime Minister Anutin Charnvirakul had ordered civil servants to conserve energy due to the energy crisis caused by the Middle East conflict. This included suspending overseas trips and using the stairs instead of elevators. Lalida Periswiwatana, a spokesperson for the prime minister, told reporters that civil servants must now work from home. However, officials who serve the public will be exempted. Southeast Asia's second-largest economic powerhouse has 95 days worth of energy left. According to Energy Minister Auttapol Rikpiboon…
Chinese solar stocks jump on news of Musk's visit, but some firms deny cooperating
Chinese solar shares rose on Wednesday, after local media reported Elon 'Musk sent delegations to visit various companies. This was days after Elon announced plans to build a large-scale?cell capacity for the U.S. The CSI All Share Solar Power Equipment Sub-Industry Index grew 3.61%, while the CSI SH-HK-SZ Solar Power 50 Index grew 3.22%. According to a report published by Sina Finance on Tuesday, citing sources from the Chinese solar industry, a team sent by Musk visited several photovoltaic companies in China. These included firms involved in equipment and silicon wafers as well as battery modules and Perovskite Technology.
EUROPE GAS - European gas prices increase on fear of LNG shortage
LONDON - Benchmark European wholesale gas prices increased on Wednesday morning after reports that Iran had laid mines along the 'Strait of Hormuz' raised concerns about liquefied gas supply. The conflict in the Middle East would also last a lot longer than expected. ICE data shows that the Dutch front-month contract, which is the benchmark price in Europe, increased 5.7%, to 50.09 Euro per megawatt hour at 0918 GMT. ICE data shows that the British April contract increased 6.03%, to 127.90 cents per therm. Ulrich Weber, LSEG analyst, said: "The news that Iranians are?starting to mine Strait of Hormuz" would create further obstacles to the resumption of ship traffic. U.S.
Germany's PNE has lost bid for Vietnam wind projects, in a new blow to foreign investors
The Vietnamese authorities have selected a newly-created subsidiary of the real estate conglomerate Vingroup for the development of the first phase of the country's biggest wind power project, leaving out Morgan Stanley's German renewable company PNE. PNE said that the decision was a "surprise". Hanoi cut retroactively subsidies last year for several renewable energy companies. Diverging opinions on electricity prices and deadlines also weighs heavily on foreign investment into the country's emerging liquefied gas and nuclear sectors. Vingroup…
Gas shortage worries in India spark panic buying for Induction stoves
Indians are buying electric induction cookers at a rapid rate, causing stocks to be depleted online and in stores. This is due to fears that there could be a shortage of cooking gas linked?to the Middle East conflict. India, which is the second largest importer of LPG in the world, has invoked emergency powers in order to 'boost supply for household users, even though availability is tightening? for commercial users such as canteens, hotels and restaurants. Some households are worried about higher prices and refill delays, so they buy electric appliances.
Total CEO: Iran war disruption that goes beyond 3-4 months is a systemic threat to the global economy
Patrick Pouyanne, CEO of TotalEnergies, said that a 'disruption in global energy supply from the U.S. and Israeli?war against Iran? lasting beyond three to four months would pose a serious systemic risk for the global economy. Pouyanne, speaking at the CERAWeek conference in Houston, said that the disruption of global fuel supplies was worse than disruptions to crude oil supply?because they were exacerbated by an export ban from China on products such as diesel, gasoline, and jet fuel. China banned exports in order to maintain sufficient fuel supplies at home during the crisis. Pouyanne stated that the ban on fuel supplies in Southeast Asia has rendered them unsustainable.
China Calls for Gulf Conflict to End, Addressing Southeast Asia Energy Shortages
China called for an end to conflict in the Gulf and said the safety of waterways should not be disturbed on Thursday, adding that it was ready to work with Southeast Asia to address energy shortages as oil markets reel from supply shocks.While the U.S.-Israeli war on Iran has allowed China to cast itself as the more reliable superpower, analysts say it is wary of global energy market uncertainty, not least because it needs the resources it has been stockpiling since the late 2000s to power the manufacturing sector underpinning its economy.Assisting Southeast Asia's 700 million people would be welcome relief to the region's oil importers…
Middle East conflict may spur demand for palm oil in biodiesel sector
Industry officials have told?that the Middle East conflict, which has pushed up crude oil prices, could boost demand for palm oils in the biodiesel industry and for food use. Asian buyers are looking for quick shipments. Indonesian and Malaysian production reached a new record in 2025. This resulted in a rise of stocks and pressure on prices. The conflict has made palm oil more attractive to biodiesel producers, and prices have risen to their highest levels in over a year. Anilkumar bagani, the research head at Mumbai-based Sunvin Group, said that palm oil was now trading at a'sharp discount' to gasoil.
