The latest reductions could lift oil prices by $10 per barrel, the head of investment firm Pickering Energy Partners said on April 2, while oil broker PVM said it expected an…
According to the firm, investment for this project may total Rp 17 trillion (US$1.1 billion).
The effort is to support Indonesias's green push. fficials from the country said Jakarta has decided to offer tax reductions of up to 11 percent for those who purchase EVs.
The cost of this project is Rs 17.24 crore.
In separate advisories, local Philippine oil companies said they would cut the prices of gasoline by P1.20 per liter; diesel, P1.85 per liter; and kerosene, P2 per liter.
The most significant fallout of the Russia-Ukraine war was its impact on the energy market and South Asia was no exception, says the writer.
Earlier this month, the oil industry was reportedly facing trouble in arranging crude oil and petroleum products due to the prevailing prices.
Operations at the seven-reactor plant in Niigata Prefecture have been suspended due to deficiencies in Tokyo Electric Power Co.’s antiterrorism measures.
Many companies, the majority of them Chinese, have established facilities in the country to manufacture solar cells and modules.
The increases come a week after local oil companies cut their prices by P1.30 (diesel), P0.70 (gasoline) and P1.80 (kerosene).