Asia / Pacific

The Russian government announced on Thursday that it has extended the six-month ban on gasoline exports, but with exemptions for producers. The government released a statement saying that the Deputy Prime Minister, "Alexander Novak" supported the decision to prohibit gasoline exports to non-producing companies from March 1, to August 31, this year. This was to help balance the market in the period of high demand. The refineries and the oil companies who own them will now be allowed to export gasoline. A measure that was implemented nearly a year back prohibits traders and resellers from exporting gasoline. The first ban...

Brava Energia, a Brazilian company, will add four wells to the Atlanta field by 2025. It will also begin shipping oil to Trafigura as part of a six-million barrel supply agreement. The head of Brava's offshore operations, Carlos Mastrangelo, told reporters during a Tuesday visit that the number of wells connected with the floating production storage unit and offloading (FPSO) will now be six. We currently have two wells. In a little more than a month we will be connecting two more, and by the end June, two more. Mastrangelo said that Atlanta produces about 26,000 barrels per day. Mastrangelo...

The Indian National Space Promotion and Authorisation Centre, or IN-SPACe, launched on Wednesday a fund of 5 billion rupees ($57.58 millions) to assist early-stage technologies in becoming commercial and to reduce the reliance on imported goods as the country strives to increase its market share within the global space industry. In a press release, the space regulator stated that the Technology Adoption Fund would also link government agencies with the private sectors, in order to position India as an important partner on a market that is becoming increasingly competitive. The fund offers financial support up to 60% for small and...

L.R. Jain, chief executive of Indian Strategic Petroleum Reserves Ltd (ISPRL), said that India has begun to look for oil storage facilities overseas and is currently in talks with Oman about leasing a facility capable of holding approximately 5 million barrels crude oil. Jain, CEO of Indian Strategic Petroleum Reserves Ltd. India, which is the third largest oil consumer and importer in the world, imports more than 80% of its oil requirements and is increasing its strategic reserve capacity to protect itself against any disruptions to global oil supply. Jain said that if the talks with Oman are successful, it...

Three trade sources on Tuesday said that Taiwan's CPC Corp. is looking to export jet fuel in March. This would be the first time in almost three years that it has made such an offer. They added that the state-owned oil company issued a tender for a combined cargo of 150,000 to 150,000 bbls. of jetfuel or 150,000 bbls. of jetfuel and 150,000 bers. of gasoil with 10ppm of sulphur. A document that was reviewed by on Wednesday showed the cargo would be loaded between March 6-22. Sources said Tuesday that the tender will close on February 19, but it...

These are the most popular stories in the British business pages. These stories have not been verified and we cannot vouch for the accuracy of these reports. The Times Southern Water is in a financial crisis, joining Thames Water. It has asked its investors to provide a further 900,000,000 pounds ($1.13 billion), in order to save the company. The British regulator of water, Ofwat, announced on Tuesday that six water utilities had appealed the pricing regime. This highlights the tensions in a sector trying to strike the right balance between the consumer's bills and the environment. The Guardian In the...

Investors waited for more details about U.S. president Donald Trump's plans to impose reciprocal tariffs, and were concerned that global trade tensions could escalate. Trump re-invigorated his tariff threats on Friday, warning that auto levies may kick in as early as April 2. Trump also instructed commerce and economic officials in the U.S. to investigate reciprocal tariffs against countries that impose tariffs on U.S. products, with an April 1 deadline for recommendations. Saudi Arabia's benchmark stock index fell 0.5%. The biggest lender, Saudi National Bank, saw a 0.7% drop and ACWA Power dropped 1.2%. Saudi Aramco Base Oil Company also...

The Russian rouble, and its stocks, surged Thursday following a phone conversation between U.S. president Donald Trump and Russian president Vladimir Putin. In the call the two leaders discussed how to end the Ukraine War. According to data on the over-the counter market, at 0745 GMT the rouble had risen 3% against the dollar and was trading at 90.90, its highest level since September 2024. During the trading session, the rouble briefly reached the highest level since September 11 at 89.90. The rouble has gained 20% against the dollar since the beginning of the year. The Moscow Exchange index (MOEX),...

Eneos Holdings aims to raise 400 billion yen (2.61 billion dollars) through the listing of its metals division, according to two sources. This would be Japan's biggest IPO for seven years. Sources who declined to be identified because the information was not public said that Eneos expected to receive approval from the Tokyo stock exchange for the initial public offer of JX Advanced Metals JXAM as early as this week. They said that the refiner intends to sell half its JXAM share in the IPO, and is aiming for a market valuation of at least 800 Billion Yen. This is...

Trade sources reported on Tuesday that Saudi Arabia's crude supply to China will decline in March compared to the previous month after the kingdom raised its prices to their highest level in over two years. A tally of Saudi Aramco's allocations to Chinese refiners revealed that the company will ship around 41 million barrels in March. This is down from 43.5 million barrels in February. This is the second consecutive month that Aramco has seen its allocation to China drop. The sources stated that Sinopec, a joint venture between Aramco and the Chinese state-owned company, and Aramco’s joint venture Fujian...

These are the most popular stories from the Wall Street Journal. These stories have not been verified and we cannot vouch their accuracy. Elon Musk led a consortium of investors to offer $97,4 billion for the nonprofit OpenAI. This raised the stakes in the battle between him and Sam Altman regarding the company behind ChatGPT. Donald Trump, the President of the United States, announced on Monday 25% tariffs on steel and aluminum imports to the U.S. He also reinstated global duties for allies like Canada, Mexico and South Korea, which were relaxed under the Biden administration. Elliott Investment Management, a...

The regional governor of Saratov, Russia, said that a Ukrainian drone attacked an "industrial facility" within the region. In a Telegram post, Roman Busargin (the governor of Saratov) said that preliminary information indicated there were no casualties. The Shot news telegram telegram channel was one of several unofficial Russian Telegram channels that reported fires and explosions near an oil refinery located in Saratov in Russia's South. Social media posts and videos showed thick smoke clouds in the night sky. We could not independently confirm the reports. Ukraine has not yet responded. Kyiv has said many times that its air strikes...

Gold prices were stable on Friday and on course for an eighth consecutive weekly gain. This was largely due to safe-haven flows on the back of concerns about U.S. president Donald Trump's threats regarding tariffs. As of 0251 GMT, spot gold remained at $2,940.32 per ounce. Bullion is up about 2% this week and reached an all-time peak of $2,954.69 during the previous session. U.S. Gold Futures remain unchanged at $2.956.10. "The uncertainty is still there, and gold seems to be strong at the moment but we could see a drop in price soon," said Brian Lan. He is managing...

The industry ministry announced on Friday that South Korean officials had requested an exemption from the reciprocal U.S. steel and aluminum tariffs when they visited Washington this week. Park Jong-won led the first large South Korean delegation to visit Washington after U.S. president Donald Trump announced the sweeping tariffs. He argued that most tariffs have been eliminated between the two nations under their free trade agreements. South Korea, a major exporter in the world and a top trading partner of the United States has been increasingly concerned by Trump's actions. The ministry reported that Park praised South Korean investments in...

Rio Tinto announced its lowest full-year earnings in five years, which also fell below expectations. Lower prices for iron ore overshadowed growth in the copper and aluminum businesses. Last year, iron ore prices were moderated due to a weak property market in China and high portside stocks. This led to a decline in the earnings of the miner from this raw material that is used in the steel-making process and offset the growth in the copper and aluminum segments. Rio's iron ore average price per tonne dropped 10% in the past year compared to a year ago. Rio's operating profits...

Russia, just like U.S. president Donald Trump, is envious of Ukraine's natural resource - its forces are now closing in on an enormous lithium deposit. Trump told Ukrainian President Volodymr Zelenskiy that he wanted Kyiv's minerals to be handed over in exchange for U.S. support. Vladimir Putin is gaining control over Ukraine's wealth as Washington and Moscow prepare to negotiate an end to the war that has lasted three years. According to data obtained from Ukrainian military blog Deep State, Russian forces have seized more than a fifth (including rare earth reserves) of Ukraine and are now less than four...

Russia, just like U.S. president Donald Trump, is envious of Ukraine's natural resource - its forces are now closing in on an enormous lithium deposit. Trump told Ukrainian President Volodymr Zelenskiy that he wanted Kyiv's minerals to be handed over in exchange for U.S. support. Vladimir Putin is gaining control over Ukraine's wealth as Washington and Moscow prepare to negotiate an end to the war that has lasted three years. According to data obtained from Ukrainian military blog Deep State, Russian forces have already taken over a fifth part of Ukraine, including rare earth reserves. They are now less than...

On Wednesday, gold prices reached a new record high due to the demand for safe havens following the latest tariff threats by U.S. president Donald Trump. Investors were also awaiting the minutes of the Federal Reserve policy meeting in January later that day. As of 9:39 am, spot gold was unchanged at $2.934.49 per ounce. ET (1439 GMT), after surging earlier to an all time high of $2.946.85/oz. Prices reached a new record for the 9th time this year. U.S. Gold Futures increased 0.1% to $2.952.10. Paul Wong is a market strategist with Sprott Asset Management. He said, "We're in...

Since Donald Trump returned to office in the United States last month, he has imposed numerous tariffs on imported goods and threatened to do so more frequently. These can be broad - such as a tariff on all imported goods from abroad - or targeted at certain sectors, countries, or regions to try and get them to comply with his demands. Trump's threats are constantly changing, and other nations and businessmen are unsure of what to expect next. Here's a summary of Trump’s threats and actions in relation to trade. BROAD TARIFFS Trump's vision is based on a gradual rollout...

EU diplomats reported on Monday that EU envoys had agreed to the 16th package against Russia on Wednesday. The sanctions include a ban on imports of primary aluminium, the sale of gaming consoles, and the listing of shadow fleet vessels. On Monday, the EU foreign ministers are expected to adopt the package which, in large part, follows the proposal of the European Commission. This will mark the third anniversary since Russia invaded Ukraine. A year after the official adoption, the aluminium import ban is to be implemented. The package also includes 48 individuals and 36 entities on its list of...

Rachmat Makkasau, the CEO of Amman Mineral Nusa Tenggara (a subsidiary of Amman Mineral Internasional), told the parliament on Wednesday that the company is looking for flexibility from the government in order to export copper concentrate. Makkasau stated that the company had around 200,000 metric tonnes of concentrates available for export. He said that the smelter was operating at only 48% of its capacity at an update in parliament on the company's operations. Indonesia has banned the export of raw minerals like copper, but it gave Amman Mineral & PT Freeport Indonesia a deadline extension of December of last year...

Court filings on Wednesday showed that an Aboriginal group was seeking A$1.8billion ($1.1billion) in compensation from Western Australia after the state allowed Fortescue Mining to mine iron ore for its own benefit without a land-use agreement. The Yindjibarndi Ngurra Aboriginal Corporation says that the Solomon mining hub's activities have damaged their land and people. The claim included A$1 billion in cultural damages and A$678 millions for economic losses, according to documents filed with the Federal Court of Australia. This case will be remembered not only because of the compensation sought, but also for any precedent that could lead to future...

London copper prices eased on Tuesday, after U.S. president Donald Trump threatened to impose 25% duties on automobiles and semi-conductors, which could impact the metal's supply. The price of three-month copper at the London Metal Exchange slipped 0.3%, to $9.446 per metric ton as of 0156 GMT. Trump announced on Tuesday that he plans to impose auto import tariffs of "around 25%" as well as similar duties on pharmaceuticals and semiconductors. This is the latest of a series measures that threaten to disrupt international trade. Trump also said that tariffs for pharmaceuticals and semiconductors would start at "25% and higher"...

Gold prices rose Tuesday, as investors sought safe havens in gold amid concerns about economic growth caused by uncertainty over President Donald Trump's tariff plan. As of 09:32 am, spot gold rose 0.9% to $2.923.89 per ounce. After hitting a record-high of $2,942.70 in the previous week, ET (1432 GMT), gold prices rose 0.9% to $2923.89 an ounce. U.S. Gold Futures increased 1.4% to $2.940.30. Jim Wyckoff is a Kitco Metals senior analyst. He said: "We're seeing an increase in safe-haven demands due to the disruption of the Trump Administration and we also have a bullish chart position." Since taking...