Tag: Fuel
PETRONAS and Phoenix Petroleum Sign MoU for Downstream Marketing and Tech Collaboration in the...
KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) and Phoenix Petroleum have agreed and signed a memorandum of understanding (MoU). To develop a collaboration in downstream...
Indonesia hikes fuel prices by 30%, cuts energy subsidies
Indonesia dramatically increased fuel prices by 30%, with Pertalite gasoline rising from 51 to 67 cents per liter and diesel from 35 to 46 cents. Long lines formed at gas stations as citizens rushed to purchase cheaper fuel before the price hike took effect.
Asia’s US$350bil gas projects intensify the clean energy debate.
Asia is investing over US$350 billion in gas projects to reduce coal dependency, but experts warn this could potentially slow renewable energy adoption and lock in fossil fuel use for decades.
European inflation soars to a record 7.5% on fuel, food costs.
Eurostat reports eurozone inflation surged to 7.5% in March, the highest since 1997, as rising energy prices and the Ukraine war squeeze consumer spending. This marks the fifth consecutive month of record-breaking inflation, reflecting global economic challenges and increasing cost of living pressures.
High energy costs trigger unrest in parts of Europe.
Amid Russia's war in Ukraine, European countries face mounting energy costs, triggering widespread protests. Spain deployed over 23,000 police to manage trucker strikes, while French and Greek farmers block highways, highlighting the economic strain of high fuel prices and inflation.
High energy costs trigger unrest in parts of Europe.
High energy costs are triggering widespread unrest across Europe. Spain has deployed over 23,000 police to manage protests, while farmers in France and Greece block highways. Russia's war in Ukraine has exacerbated the situation, driving record inflation and making fuel and essential supplies significantly more expensive.
Asia stocks extend losses as Ukraine war, China’s Covid-19 surge hit sentiment
Asian stocks fell on Tuesday as COVID-19 cases in China and ongoing Ukraine war concerns weighed on markets. MSCI's Asia-Pacific index dropped 1.97%, with Chinese stocks leading losses, reflecting broader economic uncertainties and potential demand disruptions.
