Taiwan

The oil prices rose by about 5% after Washington imposed new sanctions against major Russian companies for the war in Ukraine. Major stock indexes also edged up as gains from U.S. energy stocks and European energy shares offset some disappointing earnings reports. The sanctions were announced late on Wednesday and targeted major Russian suppliers Rosneft, Lukoil. The U.S. announced it was ready to take additional action, as it urged Moscow to immediately agree to a ceasefire. Energy was the leading sector to gain on Wall Street, according to the S&P 500 index. Energy was the last sector to gain 1.2%....

On Thursday, Asian stocks fell a second time as Wall Street was stung by disappointing earnings reports for tech giants. Meanwhile, U.S. sanctions on Russia and China rekindled geopolitical fears. Oil prices surged. The broadest MSCI index of Asia-Pacific stocks outside Japan fell 0.3% last week, while Japan’s Nikkei225 dropped 1.5%. Chinese stocks fell 0.4% in Hong Kong following reports that the White House was considering a plan aimed at curbing a range of software-powered products exported to China as retaliation against Beijing's recent round of export restrictions on rare earths. Charu Chanana is the chief investment strategist for Saxo...

Sources with knowledge of this matter stated on Friday that Saudi Arabia's crude exports to China will fall to 40 million barrels in November as refiners switch to cheaper spot supplies from other Middle East producers. This would be a drop from the 51 million barrels expected to be exported by the top oil exporter in October. Saudi Aramco, the state-owned oil company, left its official November price for its flagship Arab Light crude in Asia unchanged, despite market expectations that it would increase. This was a day after OPEC+ had agreed to a modest rise in oil production. Data...

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...

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...

Northeast Asian refiners sold Novemberloading ultra lowsulphur diesel at the narrowest discounts considering that the start of the year as supply has tightened due to lower regional output, trade sources said on Friday. Deals for primarily first-half November-loading 10ppm sulphur gasoil have mainly been sealed at discounts of 30-70 cents a. barrel to Singapore quotes, the narrowest given that January,. according to traders and Reuters data. Discounts for October supplies were primarily broader than $1 a. barrel. Area price have improved on the back of several. unexpected blackouts in southeast Asia given that end-September,. following the shutdown of northeast Asia...

Woodside Energy CEO Meg O'Neill said issues about the success of its Driftwood melted gas (LNG) project are misplaced, as the energy company flagged higher expenses at its Scarborough project throughout second quarter results on Tuesday. A day earlier, Australia's biggest independent energy firm signed a $1.2 billion deal to purchase LNG developer Tellurian and its U.S. Gulf Coast Driftwood job in a relocate to become a worldwide LNG powerhouse. Woodside shares fell 2.1% after the news and experts from Citi and UBS questioned whether the infrastructure-like project could create returns above Woodside's 12% financial investment hurdle. O'Neill stated the...

Asian spot melted gas (LNG) prices increased to a sixmonth high this week on the back of cooling demand in India, greater projection temperature levels in northeast Asia and suspended production at an Australian gas center. The typical LNG rate for July shipment into north-east Asia was at $12.60 per million British thermal units ( mmBtu), its highest level because Dec. 15, market sources estimated. The August delivery cost was estimated at $12.70/ mmBtu. The strength of demand in Asia has provided some support to rates and differentials, said Lucas Schmitt, research study director on short-term LNG at Wood Mackenzie....

QatarEnergy signed a deal on Wednesday to provide Taiwan's stateowned oil company CPC with liquefied gas (LNG) for 27 years and giving it a stake in the Gulf state's gas growth project. The state-owned Qatari company said that it will supply CPC with 4 million tons per year (mtpa) of LNG from the North Field East, the eastern growth of the job. CPC will likewise take an equity stake because part of the job, QatarEnergy's declaration stated. The stake is the equivalent of 5% of one LNG train with capability of 8 million metric loads a year. This transfer will...

Solomon Islands lawmakers chosen Jeremiah Manele as their new prime minister on Thursday, raising the previous foreign minister who has pledged to continue the Pacific Island country's worldwide policy that drew it closer to China. Manele won 31 votes to Opposition leader Matthew Wales' 18 votes in the 50-seat parliament, Guv General Sir David Vunagi announced outside parliament house. A nationwide election last month saw incumbent Prime Minister Manasseh Sogavare's federal government lose half of its seats but failed to provide a bulk to any political celebration. The federal government and opposition celebrations lobbied intensively for weeks to win assistance...

In the eastern Chinese port of Dongying, the start of 2024 has actually typically seen a number of tankers docked all at once discharging Russian crude oil into a new 31.5 million barrel storage facility finished late last year. It is, traders say, all part of a concerted and intentional Chinese effort to build up strategic stockpiles for a possibly unpredictable future. Estimates of China's total strategic energy reserve differ from 280 to 400 million barrels, the upper quantity exceeding the U.S. Strategic Petroleum Reserve at roughly 364 million. China takes in some 14 million barrels a day of oil...

U.S. lp inventories and costs are progressively figured out by the state of commercial demand in North East Asia and trade relations with China rather than weather condition and usage in your home. In spite of an incredibly moderate winter that depressed domestic intake, exports diminished record stocks at the start of October to something much more detailed to regular by the end of March Lp and propylene inventories ended the winter on March. 31 around 5 million barrels (+10% or +0.48 standard deviations). above the previous 10-year seasonal average. The surplus was down from 13 million barrels (+15% or...

The island's Fire Department reported on Wednesday that 14 people died after a barrier mountain lake overflowed during a typhoon and sent a wall into a nearby town. The government announced that two people were dead and 30 more missing on Tuesday evening. An official from the fire department said that more details will be released later on Wednesday. The barrier lake formed by landslides caused by heavy rains in the sparsely-populated east of Taiwan bursts its banks Tuesday afternoon, sending a wall into Guangfu Township. Wang Tse An said that his entire village, Dama, which is home to about...

Taiwan's Fire Department said Tuesday that thirty people are missing and two have died in eastern county Hualien where a barrier mountain lake bursts its banks during a typhoon. Super Typhoon Ragasa is currently on its way southwards to China's coast. The barrier lake formed by landslides caused by heavy rains in the sparsely-populated east of Taiwan bursts its banks Tuesday afternoon, sending a wall into Guangfu Township. According to the fire department, 30 people are still missing in Hualien after the flooding. Two deaths have been reported in Guangfu. Rescuers are headed to Guangfu from all over Taiwan. Taiwan...

A report released by the banks on Tuesday showed that multilateral development banks had provided $137 billion of climate finance, an increase of 10% over the previous year. They also increased private sector funding by a third for climate-related investment. The increased investment comes at a time when nations are preparing for the next round U.N. Climate talks in Brazil, in November. Developing countries will be calling for more assistance to pay for climate change impacts caused by richer nations. In order to accelerate climate action, it is important that countries attend the COP30 with new plans for attracting private...

Leaders of the Pacific Islands began a seven-day summit in the Solomon Islands on Monday. They are expected to adopt a "Ocean of Peace", amid concerns over the rising tensions between China and the United States. Leaders are expected to support Australia's bid for the COP31 United Nations Climate Summit, after Canberra committed to working closely with its island neighbors to raise awareness about the challenges they face due to rising sea levels and worsening weather. Solomon Islands cancelled the participation of 20 donor partners including China, Taiwan, and the United States due to pressure from China to prevent Taiwan's...

Tropical Storm Podul soaked southern China Thursday, dumping over 70 mm (2.76 in) of rain per hour on parts of Guangdong province, Hunan province, and Jiangxi province, and disrupting Hong Kong's hospitals and courts. As a line formed outside the court to get into the public gallery, the Asian financial hub issued the highest level "black" weather alert, and adjourned the hearing of Hong Kong media mogul Jimmy Lai, a pro-democracy activist. Accident and emergency services will remain open. Medical authorities have announced that all out-patient clinics in Hong Kong will close until the "black rainstorm" warning is lifted. Postal...

Four people have died and over 5,900 people have been evacuated from southern Taiwan following the island's record rainfall of more than an entire year in the last week, which led to widespread flooding and landslides. Since late July, when strong southwesterly winds and a depression began to cause flooding and landslides on Taiwan's southern coast - an area crucial for the island's agricultural sector - three people have gone missing and 77 others have been injured. Central Weather Administration reports that in the last seven days more than 2.6 meters (102.3 inches) (or 102.33 inches) of rainfall fell on...

State media reported that 25 rivers in southwest China were above safe levels after the remnants from former typhoon Danas combined with East Asian Monsoon Rains. More than 10,000 people had been evacuated. Meteorologists attribute extreme rainfall and severe floods to climate change. They pose a major challenge as they threaten to overwhelm the ageing flood defences and displace millions. Beijing Daily, a state-run publication, reported that heavy rains hit the capital as well. One area of the Chaoyang district received 68.2mm (2.7") in just one hour, on Thursday morning. The water ministry warned that ten rivers in the southwest,...

On Wednesday, torrential rains were sweeping across large areas of China as Tropical Storm Danas dunked coastal tech hubs. Monsoonal rains in the interior unleashed flash floods and deadly landslides over an 1,400 km (870 mile) arc. A subtropical system of high pressure has been saturating the north-east coast and the central provinces in the $19 trillion US economy since last week. This is straining power grids, and parching crops. Extreme weather is a growing threat to the world's second largest economy, and meteorologists attribute it to climate change. The impact of extreme weather threatens to wipe out billions in...

Early on Monday morning, Typhoon Danas slammed southern Taiwan with strong winds and heavy rain. Two people were killed and more than 500 injured in the rare attack to the densely-populated west coast of Taiwan. Taiwan is frequently hit by typhoons, but they usually land on the sparsely-populated and mountainous east coast that faces the Pacific. The storm, which reached winds of up to 220 km/hr as it ripped through Yunlin in the southwest county after landing on Taiwan's southern shores late Sunday night, forced businesses and schools to close along the west coast. Government data revealed that over 700...

Taiwan President Lai Chingte remained in the U.S. area of Guam on Wednesday, his second U.S. stopover in less than a week during a tour to enhance ties with Pacific allies in the face of increasing Chinese pressure. Lai showed up from Tuvalu and will stay in Guam one night before heading to Palau and going back to Taipei on Friday. Lai was welcomed in Guam by Ingrid Larson , Washington office handling director of the American Institute in Taiwan, the body that functions as the informal U.S. embassy in Taiwan. Lai was likewise welcomed by Guam Governor Lou Leon...

Taiwan President Lai Chingte showed up in Tuvalu on Wednesday, a Tuvalu authorities stated, enhancing ties with the remote Pacific Island country on the frontline of environment change. Taiwan's President and his delegation arrived this morning in Tuvalu, a Tuvalu government authorities told Reuters. Lai flew in on a private jet from the Marshall Islands and will remain in Tuvalu for the day before leaving for Guam, as part of a Pacific trip of allies. Tuvalu Prime Minister Feleti Teo reaffirmed ties with Taiwan after he was chosen in February, and travelled to Taipei to meet with Lai for Taiwan's...

Taiwan has actually established a war room to see the live stream from next week's COP29 environment top provided it is not enabled to participate in for political factors, Environment Minister Peng Chiming stated on Friday. Democratically-governed Taiwan is omitted from practically all international bodies due to objections from China, which sees the island as its own territory not a country and claims the right to be able to speak for it on the global phase, a. position that irritates the government in Taipei. Talking to foreign media at his ministry in Taipei, Peng. said it was a shame that...