Latest news with #EnergyMinistry
Zawya
3 hours ago
- Business
- Zawya
Jordan: Diesel, 95-Octane fuel prices decreased for June — ministry
AMMAN — The Fuel Pricing Committee at the Ministry of Energy decided on Saturday to reduce the prices of diesel and unleaded 95-octane gasoline for June. After applying the monthly pricing formula, the committee found that the price of 90-octane gasoline would remain unchanged, while the price of unleaded 95-octane gasoline will decrease by JD 0.005 per litre, and diesel would drop by JD 0.015 per litre, according to an Energy Ministry statement. As a result, the price of unleaded 90-octane gasoline would remain at JD 0.845 per litre. The price of unleaded 95-octane gasoline would be reduced to JD 1.065 per litre, down from JD 1.070, and the price of diesel would be lowered to JD 0.650 per litre, down from JD 0.665. The committee also decided to keep the price of kerosene unchanged at JD 0.620 per litre and maintain the price of a household gas cylinder at JD 7. The Fuel Pricing Committee convenes monthly to review international oil market trends and make necessary adjustments to local fuel prices. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
CNA
4 days ago
- Business
- CNA
Kazakhstan says it has told OPEC it won't cut oil output, Interfax reports
MOSCOW : Kazakhstan has informed OPEC that it does not intend to reduce its oil production, Russia's Interfax news agency cited Kazakhstan's Deputy Energy Minister Alibek Zhamauov as saying on Thursday. "We have already told OPEC that we are not going to cut back and we will produce at our capacity," Zhamauov said.
Reuters
4 days ago
- Business
- Reuters
Kazakhstan minister says oil price above $70-$75/bbl likely suits all countries
ASTANA, May 29 (Reuters) - Kazakhstan's Energy Minister Erlan Akkenzhenov said on Thursday that an oil price above $70-$75 per barrel is likely to be suitable for all countries. He dismissed criticism over Kazakhstan's oil production exceeding quotas set by the Organization of the Petroleum Exporting Countries and its allies, a group known as OPEC+, due to the country's relatively small output. Some members of the group have complained about Kazakhstan's overproduction. Analysts and industry sources have also cited Kazakhstan's excessive oil output as one of the reasons behind OPEC+'s decision to speed up production hikes. Akkenzhenov, who took over Kazakhstan's energy ministry in March, singled out U.S. tariff policy as a reason behind volatility on global energy markets. Oil prices rose by about $1 a barrel to above $65 per barrel on Thursday after a U.S. court blocked most of President Donald Trump's tariffs, while the market was watching out for potential new U.S. sanctions curbing Russian crude flows and an OPEC+ decision on hiking output in July. "We wake up each morning and expect to hear the news on some countries' politics," the minister told reporters. He said that Kazakhstan's share in global oil production is less than 2%. According to an industry source, who spoke on condition of anonymity due to the sensitivity of the situation, Kazakhstan's crude oil production, excluding gas condensate, averaged 1.86 million barrels per day on May 1-19, including 932,000 bpd at Tengiz.
Straits Times
26-05-2025
- Business
- Straits Times
Indonesia plans nearly 70GW of new power capacity by end 2034, including coal
The Indonesian government said it will need 2,967.4 trillion rupiah (S$235 billion) of investment to realise the expansion. PHOTO: REUTERS Indonesia plans nearly 70GW of new power capacity by end 2034, including coal JAKARTA - Indonesia plans to add 69.5 gigawatts (GW) of power capacity by the end of 2034, much of which is from renewable sources, though it still expects to have new coal-fired power plants come online, its Energy Ministry said on May 26. Detailed in a new 2025-2034 energy supply plan, the government said Indonesia will need 2,967.4 trillion rupiah (S$235 billion) of investment to realise the expansion. State utility Perusahaan Listrik Negara will invest 567.6 trillion rupiah in new power plants and the government will offer 1,566.1 trillion rupiah of opportunities to investors. South-east Asia's largest economy has been working on the electricity supply plan for months, promising it to be an environmentally friendly investment plan that supports a target of reaching net zero greenhouse gas emissions by 2060. The new plan calls for 42.6GW of power plants with renewable sources such as solar, hydroelectricity and geothermal, as well as 10.3GW of energy storage. It also includes 10.3GW of gas-fired power plants and 6.3GW of coal-fired power plants. The document also introduced a plan for 0.5GW of energy from nuclear power plants, the first of which would start operating in 2032. The country will also build 47,758km of transmission lines under the plan. Indonesia has previously said investment in transmission lines to connect high energy demand places with renewable power is key for its efforts to decarbonise the power sector. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
Malay Mail
26-05-2025
- Business
- Malay Mail
‘Public funds not enough', Malaysia urges Asean to reform finance policies for US$3t energy shift
KUALA LUMPUR, May 26 — Malaysia has urged Asean member states to embrace a fundamental shift in financing strategies to achieve the region's ambitious energy transition goals, with cumulative investments estimated at over US$3 trillion by 2050. Deputy Prime Minister Datuk Seri Fadillah Yusof said Malaysia alone requires more than US$143 billion to meet its renewable energy (RE) targets under the National Energy Transition Roadmap. 'These figures underscore a simple but profound truth: public finance alone is insufficient. 'Therefore, it is imperative for governments across the region to create a robust enabling environment that catalyses private investment, both domestic and international, through coordinated policy reform and innovative financial instruments,' he said. In his keynote address at the 'Energy Transition Meeting in Asean: Fostering Regional Cooperation' conference here today, Fadillah, who is also the Energy Transition and Water Transformation Minister, said these instruments include blended finance mechanisms and public guarantees to de-risk early-stage RE projects. He added that Asean must also strengthen its capital markets through the issuance of green bonds, Islamic finance instruments such as sukuk, and sustainability-linked loans to channel capital into clean energy projects. 'Carbon pricing frameworks that reflect the real cost of emissions are essential to incentivise the shift toward low-carbon technologies. 'Digitalisation of the energy ecosystem, including smart grids, artificial intelligence-based forecasting tools, and demand-side management systems, will play a crucial role in enhancing system flexibility and efficiency across the region,' he said. At the national level, Fadillah said Malaysia has already begun aligning its policies and financing landscape to support this transformation. 'As a trading nation, we (Malaysia) recognise that competitiveness and climate ambition must go hand in hand. The Corporate Renewable Energy Supply Scheme enables large electricity consumers to directly source RE from private developers, offering a market-driven route to decarbonisation. 'The Low Carbon Energy Generation Programme introduces a Contract-for-Difference mechanism to improve the bankability of renewable projects and offer price certainty for investors, while Bank Negara Malaysia's Low Carbon Transition Facility provides concessional financing to small and medium-sized enterprises investing in clean technologies,' he said. Fadillah emphasised that efforts to enable a region-wide energy transition must be matched by regional alignment. 'A well-integrated Asean energy market, supported by common investment frameworks, harmonised technical standards, and coordinated green finance mechanisms, will unlock economies of scale and reduce capital costs,' he said. — Bernama
