Pharos Energy announces that licences for 2 Vietnam oil and gas fields have been extended until 2031/32
Pharos Energy, a UK-based oil & gas exploration company, announced on Friday that its two joint ventures operating in Vietnam had received approval from the local government to extend their licenses for five years until early 2030. Pharos announced in a press release that the Te Giac Trang field operated by Hoang Long Joint Operating Company will be permitted to operate until December 7, 2031. TGT is situated in Block 16-1 in the Cuu Long Basin offshore Vietnam, and the licence was set to expire December 2026. Pharos announced that the Ca Ngu Vang field (CNV)…
Solar tariffs in the US will increase prices and reduce profit margins for Southeast Asia
Analysts said that a new round of U.S. import tariffs against Southeast Asian solar panel producers will likely increase consumer prices while reducing producer profits. However, the industry had anticipated this move. The Commerce Department announced new duties on Friday that extend the United States anti-dumping regime to solar cells in Southeast Asia, instead of just finished modules. Citi analyst Pierre Lau wrote in a report that the tariff increase was in line with what had been expected. He added that, in the long run, the duties will encourage the production of goods in the United States and replace imports.
Chinese solar firms are ever-nimble and go to places where US tariffs do not reach
The U.S. tariffs on Vietnam and three other Southeast Asian nations have prompted some of the largest Chinese-owned factories to cut production and lay off workers. In the meantime, a number of Chinese-owned solar power plants are being built in Indonesia and Laos. These are outside of Washington's protections on trade. Reports show that their planned capacity would be enough to provide about half of the solar panels installed in the U.S. Chinese solar firms have shrunk their output in existing hubs, while building new factories elsewhere. This has allowed them to avoid tariffs and to dominate the U.S.
B.Grimm Power, Thailand's B.Grimm Power, seeks LNG supply for short- and long-term periods
A company executive revealed at the Asia Gas Markets Conference on Tuesday that B.Grimm Power, Thailand's largest power firm, is looking to purchase five to seven cargoes of liquefied gas for delivery between 2025 and 2026. Andrew Kirk, B.Grimm Power's head of LNG, has said that the company is looking to secure a long-term LNG deal of up to one million tons after these initial short term cargoes. He said that the company's gas fired power plants would be able to supply its own needs by 2028. The Energy Regulatory Commission of Thailand has allocated B.Grimm a LNG import quota for 1.2 million tons per year.
Cambodia increases power import capacity in order to improve flexibility
Cambodia's energy minister said that the country plans to increase its capacity to import cleaner power from Laos and Vietnam, as well as Thailand, by more than 600 Megawatts. This is a 50% increase over current agreements. Keo Rottanak noted that the move could boost interconnections in Southeast Asia and provide more options for diversifying power supply in the face of rising hydropower volatility due to weather-related interruptions. He said that the imports would supplement the power supply "in areas where there are financial or environmental benefits" but that the majority of Cambodia's electricity will still be produced domestically.
Cambodian solar firms not cooperating in US tariff probe
Documents filed with the Department of Commerce indicate that two Cambodian solar companies have decided to stop cooperating with an investigation by the U.S. Commerce Department into accusations they were flooding the market with panels at prices below their cost of manufacture. Solar Long and Hounen Solar stated in separate letters, dated October 15, that they could no longer devote resources to the antidumping investigation. Craig Lewis, the attorney for Hogan Lovells who represents them, has no more comment. In April…
Cambodia will increase its power import capacity to over 50% within the next two years
Keo Rottanak, the energy minister of Cambodia, said that it plans to import more than 600 megawatts (MW), or clean power, from Laos and Thailand. This will increase its contracted import capacity over 50%. In 2026, the Southeast Asian nation will import solar and hydro power from Laos. Rottanak stated that the country is nearing approval for a deal to nearly double its 300 MW agreement with Vietnam, and it could import 100 MW more from Thailand. We just signed last Thursday more than 300 Megawatts of combined hydro-solar with Laos. This is coming to Cambodia by 2026," Rottanak said in an interview during the Singapore International Energy Week.
Malaysian PM: Petronas exploration in South China Sea to continue
Anwar Ibrahim, Malaysia's prime minister, reiterated on Tuesday that the state-owned energy company Petronas would continue to conduct oil exploration in Malaysia's Exclusive Economic Zone (EEZ) of the South China Sea despite China's objections. He told the parliament that this includes exploration activities for Petronas Kasawari Gas Development off Sarawak State on Borneo. Anwar stated, "We will continue to discuss with all countries. He said Malaysia has territorial disputes with many neighbours including Thailand, the Philippines and Indonesia and that its differences with China are being overemphasized.
US unveils first of two decisions regarding solar tariffs
The U.S. Trade officials may this week impose new tariffs against solar panels imported from four Southeast Asian countries. American manufacturers claim that these nations provide unfair subsidies, which make U.S. goods uncompetitive. The Commerce Department is expected to announce its first preliminary decision in this year on a trade case filed by Hanwha Qcells in Korea, Arizona's First Solar, and several smaller companies that are seeking to protect their billions in investments made in U.S. manufacturing of solar panels.
India opens up non-basmati rice exports to boost global supply
India has given the green light for the resumed exports of white non-basmati rice as stocks in the world’s largest grain exporter surge and farmers prepare for a new harvest in the next few weeks. The traders stated that increased rice exports from India will boost global supplies, and lower international prices, by forcing Pakistan, Thailand, and Vietnam, which are major exporters, to lower their rates. A government order stated that New Delhi had set a $490 floor price per metric tonne for non-basmati exports of white rice. The government had cut the white rice export tax to zero the day before.
TotalEnergies denies knowing about alleged torture and killings at Mozambique Liquefied Natural Gas site
PARIS, September 26 - French oil giant TotalEnergies responded to a report in the media by saying that it was unaware of the torture and killings allegedly committed on site of the future Mozambique Liquefied Natural Gas plant. Politico reported earlier Thursday that Mozambican soldiers working out of this site, which has not been completed, had rounded up 180 to 250 local men and locked them inside shipping containers. They then tortured them and killed the majority of them from July through September 2021. The Mozambican defense ministry didn't immediately respond to an inquiry for comment about the allegations made in the Politico article…
Agrovet executive: India palm oil production to triple in six years as farmers plant additional crops
A senior industry official stated on Friday that India's palm-oil production will likely triple in the next six years, as oil palm plantations expand and mature. Palm oil is the world's largest edible oil supplier. It comes from Indonesia, Malaysia, and Thailand. India's edible oil imports, which account for almost two-thirds its total consumption, will be reduced by increasing production. According to Sougata Nyogi, the chief executive of India's largest palm oil producer Godrej Agrovet Ltd, the production of palm oil in India is expected to increase from 400,000 metric tons to between 1.2 and 1.5 million metric tonnes by 2030-31.
Envoy: EU sanctions now include financing of Russian battlefield products
The EU sanctions envoy stated on Wednesday that sanctions against financial institutions could be aimed at the military product flow to Russia, as well as products manufactured in Southeast Asia by Western subsidiaries. Since 2022, the EU has imposed extensive sanctions against Russia because of its invasion in full force of Ukraine. David O'Sullivan, EU envoy, said that sanctions are not a "magic bullet", but they aim to make Russia's war machine more difficult to fuel. He said he had no illusions about circumvention, and that listing dual-use companies that sell to Moscow is often a "whack a mole" effort.
Indian solar panels are under scrutiny by the US for possible links with China's forced labor
U.S. Customs and Border Protection detained nearly 43 million dollars in electronics equipment shipments from India under a law that prohibits goods made using forced labor. This is a new focus of the agency, which enforces trade. The Uyghur Forced Labor Prevention Act, which prohibits forced labor in Uyghurs, lists polysilicon as a sector of high priority. According to industry sources, solar panels are the most common type of equipment that has been stopped. The CBP didn't immediately respond to our request for comment.
Russell: Asia spot LNG prices fall as demand increases, but prior rally bites back:
Last week, the spot price for liquefied gas (LNG), in Asia, eased amid signs of seasonal demand peaking. The five-month rally has also reduced purchases by price sensitive buyers. The price of LNG spot for delivery to North Asia fell to $13.80 per mmBtu in the week ending Aug. 23. This is a 2.1% drop from the previous week's eight-month high, $14.10. The benchmark price fell for the first time in four weeks. However, it remains 66.3% higher than the lowest price of $8.30/mmBtu that was reached at the start of March. The Asian LNG price has been driven up by heavyweight buyers like China and Japan.
Russell: Asia spot LNG prices fall as demand increases, but prior rally bites back:
Last week, the spot price for liquefied gas (LNG), in Asia, eased amid signs of seasonal demand peaking. The five-month rally has also reduced purchases by price sensitive buyers. The price of LNG spot for delivery to North Asia fell to $13.80 per mmBtu in the week ending Aug. 23. This is a 2.1% drop from the previous week's eight-month high, $14.10. The benchmark price fell for the first time in four weeks. However, it remains 66.3% higher than the lowest price of $8.30/mmBtu that was reached at the start of March. The…
Japan signs 70 MOUs on energy transition with partners
On Wednesday, Japan signed 70 Memorandums of Understanding (MOUs) with partners regarding energy transition on the sidelines Asia Zero Emission Community Ministerial Meeting in Jakarta. The AZEC initiative was launched in 2023 by 11 countries, including Indonesia, Australia and Thailand, to share the same philosophy and work together in order to accelerate the energy transition. Today 70 new MOUs are to be announced. METI made $1 billion available for 14 projects to provide new financial assistance through a partnership with Global South Support Scheme…
US Solar Group seeks retroactive duty on panels imported from Vietnam and Thailand
A group of U.S. manufacturers of solar panels asked the Commerce Department to consider imposing retroactive duties on Vietnam and Thailand because there has been a surge in imported goods. These countries are also under investigation for unfair trade practices. The Commerce Department began an investigation in May into silicon solar panels and cells made in Vietnam. Thailand, Malaysia, and Cambodia. A group of American manufacturers claims that the products were sold at low prices in the U.S. and received subsidies from China. Many manufacturers in the region have factories in China. According to U.S.
China General Nuclear signs agreement with Laos for renewable energy base
The state-run People's Daily, which is a daily newspaper published by the Chinese government, reported that the power company China General Nuclear had signed an agreement to expand a renewable energy base planned for the northern region of Laos. The new deal includes a second phase that will include 580 Megawatts (MW) of wind and solar power in Luang Namtha Province and a solar plant with a capacity of 420 MW in Oudomxay Province. This agreement follows an initial agreement that was signed between the two parties in September last year to build a base for renewable energy in the northern part of the country.
Hyundai invests $28 Million in Thailand to build EV batteries and assemble EVs
The Board of Investment of Thailand (BOI), a government agency, announced on Wednesday that Hyundai Motor Company of South Korea will invest one billion baht to build a factory in Thailand to manufacture electric vehicles and battery packs. Thailand's booming EV industry is currently dominated mainly by Chinese automakers. These include BYD Motors and Great Wall Motors. They use Thailand as a base to manufacture vehicles for export across Southeast Asia. A BOI announcement said that the Hyundai factory will begin production in 2026. It is located to the southeast of Bangkok's capital.
