Asia

May Mobility announced on Thursday that it had secured a substantial equity investment from Singapore's ride-hailing company Grab as part of its plans to expand into Southeast Asia in the coming year. Grab will integrate the startup's autonomous driving technology into its fleet management, vehicle matching and routing systems. This deal represents a major step towards the global deployment of robotaxis, and creates a blueprint on how self-driving cabs will be managed by existing ride-hailing platforms. May Mobility has declined to reveal any further information about Grab's stake in the startup. May Mobility has now partnered with Uber for its...

LSEG and traders' data show that Russia will deliver 750,000 barrels (or 100,000 metric tonnes) of a mixture of Arctic heavy ARCO and gas condensate - a type light oil - to Syria's Banias Port. Russia has considered Syria a major gateway for its military and trade operations in the Middle East. Western sanctions are affecting the sale of both Russian gas and oil condensate on international markets. In October, Russian and Syrian officials met in Moscow to discuss potential energy co-operation. LSEG data show that the tanker Antarktika is an Aframax vessel capable of carrying 700,000-800,000 barrels. It has...

Shipbuilders and port operators in the United States are suffering from the fallout of President Donald Trump’s campaign to eliminate the offshore wind industry. They have lost hundreds of millions in government support and seen their vessel orders disappear. Their investments worth billions of dollar's now face an uncertain future. This is an unintended result of Trump's offshore wind policy, which includes stop-work orders for large projects and permit reviews that were sparked by former president Joe Biden’s green investment policies. Trump says offshore wind is an ugly and inefficient technology which harms birds and whales. He is a strong...

According to LSEG data and industry sources, the differential between Urals crude oil and other grades was unchanged on Tuesday. Meanwhile, Russia delivered a first cargo of oil to the newly constructed Kulevi oil refining plant in Georgia earlier this month. According to LSEG, and a trader the tanker Kayseri transported 105,340 metric tonnes of Siberian Light Oil grade from the Russian Black Sea Port of Novorossiisk, to the Kulevi Oil Terminal, on October 6, 2006. The Danube Refinery of MOL, a Hungarian oil-and-gas company, is gradually reopening its units following an early Monday morning fire in one of the...

Transnet, the state-owned South African freight and logistics company, plans to invest 127 Billion Rand ($7.3 Billion) over five years into modernizing rail lines and upgrading port facilities. This was announced by its Chief executive Michelle Phillips on Tuesday. Phillips, speaking at the South Africa Tomorrow Investor Conference, said that Transnet had budgeted 25 million rands for infrastructure this year. Phillips stated that "we will go out to the market both for partners and for funding." He cited potential projects like the Richards Bay Dry-Bulk Terminal and the Pier 2 Container concession in Durban. Transnet, South Africa's key logistics player,...

Four industry sources have confirmed that Citigroup plans to remove large quantities of lead from London Metal Exchange approved warehouses in Singapore as it seeks other rent-sharing agreements. Citi declined to make a comment. In March of this year, the U.S. Bank placed a large amount of lead in LME's warehouses on warrants - title documents that confer ownership. These were put there for lease deals or agreements which allow warehouses and companies to share their rental income with each other. Metal for Rent companies do not need to own the metal. Instead, they receive a portion of the rent...

Azerbaijan has lifted all restrictions on cargo transit into Armenia, President Ilham Alyev announced on Tuesday. This is a sign that relations between the two countries are warming after nearly four decades of conflict. Aliyev informed Kazakh President Kassym Jomart Tokayev during a meeting held in Astana, that the shipment of grain from Kazakhstan via Azerbaijan was the first of its kind since the transit was stopped in the last years of the Soviet Union when the war broke out between both neighbours. Azerbaijani media quoted Aliyev as saying, "I believe this is also a sign that peace between Azerbaijan...

According to LSEG data and industry sources, the Russian company Russneft delivered a first oil shipment to the newly constructed Kulevi oil refining plant in Georgia. Since 2008, Russia and Georgia did not have formal diplomatic relations. They fought over the breakaway regions South Ossetia (backed by Moscow) and Abkhazia. Tbilisi's economic ties to Russia have grown under the Georgian Dream Party, but its relations with Western nations have deteriorated dramatically. According to LSEG, and a trader the tanker Kayseri transported 105,340 metric tonnes of Siberian Light Oil grade from the Russian Black Sea Port of Novorossiisk, to the Kulevi...

Officials said that a Russian attack on energy infrastructure in Ukraine's Chernihiv Region left thousands without electricity and others without water. Repairs were slowed by the threat of drone attacks. The Energy Ministry said that the northern part and regional capital of Chernihiv had no electricity. The latest of a series of Russian attacks on the Ukrainian grid in preparation for winter, the attack also targeted the nearby Sumy region. In recent weeks, Russian missile and drone attacks have ravaged the power infrastructure of Chernihiv, causing blackouts to disrupt daily life and causing blackouts. DRONES IN VICINITY GRID REPAIRS The...

Pham Minh Chinh, the Vietnamese prime minister, said that the government will aim for a record-breaking GDP growth of 10 percent in 2026. He added that the Southeast Asian economies have proven to be resilient despite external pressures. Chinh, who spoke at the opening of the parliamentary session, said that the growth this year is estimated to be 8%. He added that the government will stick with its goal of aiming for a growth rate above 8%. The GDP grew by 7.85% annually in the first nine-month period of this year. The World Bank estimates a 6.6% increase in GDP...

Industry leaders stated on Sunday that a massive fire at Dhaka Airport's import cargo complex has caused extensive damages to goods and materials belonging major garment exporters. Losses and impacts on trade are likely to be in the millions of dollars. The fire broke out in the cargo village of the airport on Saturday afternoon, forcing the suspension of flights. On Sunday, smoke continued to rise as firefighters and airport officials assessed damage. The fire destroyed storage areas that housed imported raw materials, ready to export apparel, and sample products, all of which are essential for Bangladesh's $47 Billion garment...

Officials said that flights out of Bangladesh’s main airport on Saturday were either delayed or diverted after a large fire broke out at the cargo terminal. Talha Bin Zassim, an officer with the Fire Service and Civil Defence Media Cell said that 36 firefighting units were working to put out the flames. Airport official Masudul Hasan informed reporters that operations at Dhaka’s Hazrat Shahjalal International Airport have been suspended. He added that all aircraft were safe. The cause of the fire was not immediately known. The problem affects both domestic and international flights. Air Arabia from Sharjah, United Arab Emirates,...

A senior official said that a Russian drone attack overnight on Kyiv injured nine people and damaged several buildings in the Ukrainian capital. Tymur Tkachenko is the head of Kyiv’s military administration. He said that 10 locations in the city had been damaged, and two apartment buildings were directly hit. He posted photos online showing a car on its side, and buildings with broken windows. In the latest Russian attack, the capital was hit for the second night in a row. Ukrainian officials claim that the previous strikes were aimed at power infrastructure in a campaign to disrupt Ukraine's energy...

Officials said that Russian drone and missile attacks on Ukraine resulted in the deaths of six people including two children and caused nationwide power outages. Moscow was implementing a targeted campaign against Ukraine's energy system. Timur Tkachenko of the Kyiv military administration said that debris from weapons dropped caused fires to spread in several districts. Svitlana Svitlana said that "most regions of Ukraine" were targeted. This is the second attack of this kind in the last month. It indicates a systematic campaign by the enemy, to destroy Ukraine's power sector before winter. Hrynchuk stated that Russia is now targeting also...

Three industry sources confirmed on Wednesday that a Chevron-led group developing Kazakhstan's biggest oilfield Tengiz, will resume oil exports through the Baku-Tbilisi - Ceyhan pipeline by November. The pipeline connects Georgia with Turkey, and is primarily used to export oil produced by the Azeri Chirag and Guneshli fields, operated by BP. In July, organic chloride contamination was found in Azeri BTC crude shipments. This caused several days of delays in loadings at BTC Ceyhan in Turkey. The TCO consortium halted exports along the route in the month following. Tengiz did not return to the pipeline when Kazakhstan recommenced oil supply...

The Russian-installed management has said that the Zaporizhzhia Nuclear Power Station in southeast Ukraine will be able to receive external power by Saturday. Since September 2022, the Zaporizhzhia nuclear plant in Europe - Europe's biggest with six reactors -- has been using external power to cool down nuclear material and prevent an accident. The plant was taken over by Russia in the first weeks of the conflict with Ukraine. Both sides have accused each other of shelling the facility at different times. The plant has relied on diesel emergency generators since almost a full month, after the external power supply...

The companies, which include Chevron, Shell and others, said that they had reduced their oil and gas production at a major Kazakh field following a drone strike by Ukraine, which damaged a Russian gas processing plant that supported their operations. The Orenburg gas plant strike, which took place about 1,056 miles (1,700 km) east of Ukraine marks the first incident known in Kyiv’s campaign to disrupt Western oil majors' operations abroad. Erlan Akkenzhenov said that the Karachaganak field's daily production had been reduced by 8,500 metric tonnes (66,810 bbls) to 9,000 tons as a result of the strike. He said...

Two industry sources said on Monday that a Ukrainian drone attack on Russia’s Orenburg Gas Plant has forced Kazakhstan to reduce its production at Karachaganak Oil and Gas Condensate Field by 25 to 30%. Kazakhstan's Energy Ministry said that Orenburg, one of the largest gas processing facilities in the world, was forced to stop importing gas from Kazakhstan following the attack. Ukraine confirmed that it had hit a gas station in the Orenburg area, located 1,700 km (1,060 mi) east of Russia's border with Ukraine. It also confirmed hitting an oil refinery, in the Samara Region. Since August, Kyiv's attacks...

Two industry sources said on Monday that a Ukrainian drone attack on Russia’s Orenburg Gas Plant has forced Kazakhstan to reduce its production at Karachaganak Oil and Gas Condensate Field by 25 to 30%. Kazakhstan's Energy Ministry said that Orenburg, one of the largest gas processing facilities in the world, was forced to stop importing gas from Kazakhstan following the attack. Ukraine confirmed that it had hit a gas station in the Orenburg area, located 1,700 km (1,060 mi) east of Russia's border with Ukraine. It also confirmed hitting an oil refinery, in the Samara Region. Since August, Kyiv's attacks...

The official gazette of Egypt announced that Egypt increased prices on a variety of fuel products Friday. This is the second price increase in this year. It's part the government's policy to reduce subsidies and alleviate a budgetary deficit. After a nearly 10% increase, the price of a variety of petroleum products has increased by 10.5% to 12.9%. Get 15% off in April . Egypt said recently that it hoped this would be the final major increase in fuel prices if global markets remain stable. Diesel, the most widely used fuel in Egypt, was raised from 15.50 Egyptian pounds to...

Laos may stop supplying electricity to cryptocurrency miners in the first quarter 2026 as the country aims to redirect power domestically to industries that are more conducive to economic growth. After a policy change in 2021 that led to a rapid increase in mining, crypto operators were attracted by the cheap, non-fossil fuel. Chanthaboun Sukaloun, the deputy minister of energy, said that the government is now looking to give priority to sectors like AI data centres and metals refineries, as well as electric vehicles. Soukaloun stated that Laos had already started to reduce the supply of electricity for crypto miners....

According to LSEG data and market sources, Turkey will continue to import Russian Urals crude oil at around 288,000 barrels per day in October, unchanged from September. Two sources in Russian oil trading said that October's exports to Turkey could even exceed September's volume, as more cargoes will be confirmed in the latter part of the month. This reflects Turkey's continuing demand for Russian barrels. Donald Trump, the U.S. president, has increased pressure on India and Turkey as well as major Russian oil purchasers to reduce funding for Russia's conflict in Ukraine. He is also pushing for a ceasefire agreement....

Transneft's pipeline network is not experiencing a reduction in supplies from Russian oil companies, according to a senior Transneft executive. Deliveries this year will be on par with those of 2024. Maxim Grishanin is the first vice president of the company. He told reporters that the company had enough capacity to handle a possible rise in supply. Russia will increase its output to meet the demands of the Organization of Petroleum Exporting Countries (OPEC) and its allies. Transneft transports over 80% of the oil produced by the country. Grishanin stated that Transneft had a growing cash deficit due to an...

Tenaga Nasional Bhd's (TNB) chief executive said that Malaysia would generate more electricity using natural gas by 2032 than it will from coal. Megat Jalaluddin, CEO of TNB, said that the demand for electricity from data centres is expected to stabilize, and the total amount of electricity used in Malaysia will likely be consistent with the projected growth rate of Malaysia's economy of 4%-4.5 percent in 2026. The investment in data centres has stabilized. Jalaluddin stated that the data centre investment is currently growing steadily. Malaysia has been compelled to increase its coal-fired energy output in recent months and import...