ASEAN Countries

Local media reported that the Indonesian government would ask coal'miners with special contracts' to supply a greater portion of their production domestically, as they are expected to receive their 'full output quota request. Kontan, citing a senior energy ministry official, reported that the government wanted 75 million metric tonnes of coal supplied to the state utility Perusahaan Listrik Negara in early 2026 from holders of the first-generation 'contract of works' deals, and state-controlled 'coal miner's. A contract of works is a long-term agreement between the government and miners that has specific rules. This includes taxes. Tri Winarno, an official at...

Indonesia's Investment Ministry said that it had met with Agincourt Resources to discuss the?legal and environment aspects of operations at Martabe Gold Mine, after Jakarta revoked their mining permits because of environmental violations. Agincourt is a part of the conglomerate Astra International. Astra's largest shareholder is Jardine Matheson. The government revoked the permits of 28 companies after accusations that they had violated environmental laws, which led to the worsening of the floods last year in Sumatra. At least 1,200 people were killed. The sovereign wealth fund Danantara Indonesia headed by Investment Minister Rosan Roeslani has created a new company called...

Analyst and traders say that Russia's naphtha shipments to Asia will fall in January as U.S. sanctions force key buyers such as Taiwan, India, and Venezuela to find new markets. After Washington imposed sanctions against top Russian oil producers the buyers have become more cautious. Sellers are forced to store naphtha in foreign storage or on ships, where it can then be re-exported. Armaan Ashraf is the director of Asia oil and natural gas liquids at FGENexant. He added that this means that premiums for "legitimate barrels" of heavy full range naphtha or?discounts to Russian cargoes would widen. Russia exports...

Donald Trump's Greenland trade threat and U-turn may have marked a turning point for "middle power" countries around the world. They now see a much more realistic chance of rebooting globalization, with or without Washington. In this?year the U.S. President has moved from using tariffs as a tool of territorial and militaristic leverage to using them to air longstanding trade grievances. For the first time ever, this strategy was met with retaliation and a credible resistance, which forced a retreat. Europe, Canada, and other economies continue to pursue their own trade liberalisation, even as the U.S. retreats towards protectionism and...

Trafigura, a trading house, has sold its first shipment of Venezuelan crude oil, as part of an agreement between Caracas, Venezuela, and Washington for the supply of 50 million barrels of oil. The Spanish refiner Repsol is expected to receive a shipment of this quantity. Two sources stated that the cargo should be delivered to Repsol by mid-February. Trafigura and Repsol have declined to comment. The agreement would be one of the first to sell Venezuelan oil in Europe since the United States captured Venezuela's leader at the beginning of this month, and struck an agreement with Caracas for the...

Petroliam Nasional Berhad, Malaysia's national energy company On 'Monday, it filed a motion with the top court of the country to clarify the legal and regulatory framework governing its operations in Sarawak. The filing comes after negotiations between Petronas, a Sarawak-based energy company, and Petros about gas distribution in the State stalled. The talks have been in a deadlock since 2024 due to competing regulatory claims. Petronas stated in a press release that it was requesting a Federal Court determination on the legal position?applicable for its Sarawak operations so as to ensure compliance with relevant laws?and governance framework. The statement...

Indonesian President Prabowo Subianto inaugurated on Monday the $7.4-billion?upgrade to Pertamina’s Balikpapan Refinery. This upgrade increased the facility’s capacity for refining from 260,000 barrels per day to 360,000, making it the largest refinery in the country. Pertamina, Indonesia's state-owned energy company, has spent years improving its refinery capacity and efficiency to meet the rising demand for energy in the country. Energy Minister Bahlil lahadalia stated that the upgrade would enable the refinery's production to increase of 92-octane and 95-octane?and 98?octane?gasoline. He said that private retailers will buy local products made by Pertamina. He did not give a timeframe. Bahlil stated...

The Dow Jones Industrial Average reached a new high on Tuesday as oil companies and financials gained. The U.S. oil industry got a boost after the military raid that took place in the U.S. over the weekend, which captured Venezuelan president Nicolas Maduro. Crude oil fell back $1 per barrel after it rose overnight as traders assessed possible impacts on crude oil flows from Venezuela. Venezuela is home to the largest oil reserves in the world. The events have had a limited impact on the risk sentiment. Equities are driven by momentum, while currencies are based on macroeconomic data. The...

The General Administration of Customs reported on Monday that coal imports from China, the largest buyer in the world, dropped 20% from their record high of the previous year. Imports in November, at 44.05 millions metric tons, were up by 6% compared to 41.74 tons in October. Imports in November of the previous year had reached 54.98 millions tons, a monthly record. The China Coal Transportation and Distribution Association's (CCTD) website reported in late November that although imported coal has a slight price advantage, this arbitrage has decreased as domestic coal prices have fallen. CCTD stated that due to supply...

The authorities battling the floods that hit Sumatra, an island in Indonesia, this week and killed around 800 people have asked for additional central government assistance to address shortages of food, fuel and funds. According to updated government figures, 463 people are missing in West Sumatra (North Sumatra), Aceh and West Sumatra. Local officials say that the lack of power and roads is preventing aid from reaching those who need it. Iskandar Al-Farlaky, the chief of East Aceh, stated that fuel had been limited in East Aceh for days and that aid was delivered by boat. Some people who lived...

The authorities battling the floods that hit Indonesia's Sumatra island this week, which killed 804 people, have asked for more help from the central government to address shortages in funds, fuel and food. Local government officials say that landslides and floods caused by cyclones have led to 634 deaths in the three provinces West Sumatra (North Sumatra), Aceh and West Sumatra. They also claim that power lines and roads were cut, preventing aid from reaching those who needed it. Teuku Raja Keumangan told Kompas TV that "people are getting sick" in Aceh where flooding has affected 25,000 people. Haili Yogi,...

Customs data released on Friday showed that China's imports of coal in October were down 10% from the previous year, due to a holiday which reduced the number working days during the month. Imports will be supported in 2025 by the winter restocking of products during the last two months. Imports in October fell from 46.25 to 41.74 millions metric tons, a drop of almost ten percent. Imports in September reached 46 million metric tonnes, a record high for nine months. Feng Dongbin is vice-general manager of Fenwei Digital Information Technology. He said that imports decreased sequentially, and also from...

The price of copper fell on Tuesday due to a'stronger dollar' and a rise in inventories at London Metal Exchange-registered storage facilities, as well as low trading volumes because of the Chinese Lunar New Year holiday. Benchmark three-month "copper" on the London Metal Exchange fell 1.8% to $12,619 per metric ton at 1702 GMT, after reaching its lowest level since February 6 (12,586). Metal, which is used for power and construction, has fallen 13% since a record high was reached on January 29,?on the back of a wave speculative purchases, encouraged by expectations that demand would be strong. The high...

Prices of copper fell on Monday, due to the?firmer dollar as well as a focus on increasing inventories and weak demand prospects during holiday trading. The London Metal Exchange's Wednesday settlement or rollover for maturing contracts and the Chinese Lunar New Year holiday this week, as well as the U.S. public holiday on Monday, will likely result in low volumes and volatile movements due to the expiring contracts and the holiday. As of 1700 GMT, the benchmark copper price on the LME was 0.2% lower. It stood at $12.845 per metric ton. It has fallen more than 11% from a...

Aluminum prices reached a two-week high after Australia's South32 confirmed that it would close a smelter located in Mozambique. However, all metals fell later as investor sentiment soured and financial markets tumbled. Benchmark three-month aluminum on the London Metal Exchange reached its highest since January 30, at $3,163.50 per metric ton. South32 confirmed it would place its Mozambique Aluminium plant on care and maintainance next month due to a power shortage. Aluminum, however, as well as other metals,?moved in the red during European afternoon trading, along with financial markets and was down 0.1% at $3.100 by 1730 GMT. U.S. indexes...

It's been difficult to find thermal coal exporters in recent years, given the soft prices and lower demand from China and India. For Indonesian miners, it was also difficult because of the uncertainty surrounding government policy. One group of coal exporters seems to be quite optimistic. South Africa's coal miners look forward to increased demand from India, their biggest buyer. They also anticipate improvements in rail infrastructure which will enable them to increase volumes. The coal that South African producers are seeing a high demand for, however, is not the coal used for electricity generation. Instead, it's for industrial processes...

Muyuan Foods shares closed slightly higher on Friday in Hong Kong, following the world's largest pig breeder. raised HK$10.7 Billion ($1.4 Billion) in a share sale This is the largest city-wide event so far in this year. The shares of the firm opened at HK$39 per share, matching their initial offer, and ended 3.9% higher, at HK$40.52, after trading between HK$38.98 and HK$41.72, with 40.59 millions shares worth HK$1.63billion changing hands. The benchmark Hang Seng Index ended 1.2% lower. This is the biggest share sale in Hong Kong in recent memory, surpassing Zijin Gold International $3.5 billion in September. Dickie...

Tianqi Lithium Corp announced on Wednesday that it would raise approximately HK$5,86 billion ($750m)?via a convertible bond and share placement, and hoped to sell a?small stake?in Chilean'miner SQM?to bolster liquidity. The Chinese lithium producer listed on the Shenzhen-Hong Kong stock exchange announced that it had struck a deal with the Hong Kong Stock Exchange to issue 65,000,000 new H shares for HK$45.05 per share, or a discount equivalent to 9% of Tuesday's closing HK$49.50. This is worth approximately HK$2.9billion. Tianqi has also entered into a'subscription agreement' for 2.6 billion yuan ($375m) in zero-coupon convertible bonds due February 9, 2027. These...

Goldman Sachs & Macquarie raised their nickel price forecasts for 2026, citing a tighter ore supply in Indonesia after Indonesia signaled its intention to reduce production. Indonesia's Minister of Energy and Mineral Resources, Bahlil lahadalia, sparked an increase in nickel prices by mid-December when he pledged to reduce production. An official from the Energy Ministry confirmed that Indonesia will reduce this year's mining permits to 250 to 260 millions wet tons ore, down from 379 million in 2025. Nickel, the main component of batteries, is produced in Indonesia. Goldman Sachs has raised its nickel price forecast for 2026 to an...

Eramet fell on the Paris Stock Exchange on Monday after the sudden firing of its CEO, just months into his term, caught investors off guard and raised concerns about governance at the nickel-manganese-lithium miner owned in part by the French state. Eramet announced on Sunday that it had fired Paulo Castellari because of disagreements over "operating methods". It temporarily reappointed Christel Bories as Chairwoman, a role she had handed to Castellari in May last year. Analysts were stunned by the decision, and credited Castellari for his early efforts in restructuring the group. The group had?faced declining profits and rising debt...

Vietnam and the European Union announced on Thursday that they have elevated their diplomatic?relations as both sides look to expand international partnerships in light of?global disruptions. The move is largely diplomatic and does not imply any?commitments? but it does carry political weight, at a moment when both the EU (European Union) and Vietnam (Vietnam) are looking to strengthen their international ties in light of the higher tariffs they will be facing on their exports going to the United States. Vietnam's president Luong Cuong, at the start of the meeting with the European Council President Antonio Costa in Hanoi, said that...

Vietnam's President?said Thursday that the two sides had agreed to intensify diplomatic ties. Both sides are seeking to expand their international partnerships in light of disruptions caused by U.S. tariffs. The move is primarily diplomatic and does not involve any binding commitments. However, it carries political significance at a moment when the EU and Vietnam both seek to deepen and expand their international ties in light of the higher tariffs they are both facing on their exports to the United States. At the start of the meeting in Hanoi with Antonio Costa, President of the European Council, Luong Cuong described...

According to a draft of a joint statement that will be adopted by the two sides on Thursday, they want to increase trade and investments in critical minerals, semiconductors, and infrastructure. The document is eight pages long and subject to changes. It states that the EU will explore a possible transfer of defence tech to Hanoi as both sides strive for closer cooperation in "trusted" networks, at a moment when Chinese companies are winning contracts to develop 5G technology in Vietnam. The statement will be signed by the European Council's President Antonio Costa when he meets Vietnam's leaders on Thursday...

Goldman Sachs raised its London Metal Exchange aluminum price forecast for the first half of 2026 to $3,150 per tonne, up from $2,575. The investment bank cited a balanced global market that had supported investor confidence, without triggering an explosive production increase. Goldman Sachs also raised its forecast for the fourth quarter of 2026 to $2,500 from $2350, but kept its projection for 2027 at $2400. Goldman has revised its forecast for 2026 surplus from 1.1 million to 0.8 millions tonnes, but kept the 2027 surplus unchanged at 1.6million. It also raised its 2028 forecast to 2.3million, anticipating a higher...