World Business News
OPEC+ Output Nears Pre-Iran War Levels Despite Hormuz Disruption
OPEC+ pumped 41.23 million barrels per day in October, about 97 percent of February's level, led by a jump in Saudi output.
Category: Fuel
Fuel
RONPOS Expands Malaysian Footprint with FIVE Petroleum Onboarding
Silentmode’s RONPOS platform adds FIVE Petroleum as its fourth Malaysian client while expanding pilot operations in the Philippines.
oil and gas
Energy shock deepens as central banks tighten on rising inflationary risks
US retail diesel prices hit $6.50, central banks tighten policies amid inflation concerns, and the Trump-Xi summit looms.
Subsidy
Flexible diesel subsidy coming soon
Government to announce diesel subsidy improvements soon, including simpler applications and family quota transfers, with Sabah registrations still lagging.
oil and gas
Gasoline, diesel and jet fuel stocks at historically low levels
US crude oil prices fell over $2 per barrel due to a significant stock build, impacting refined product supply globally.
oil and gas
Oil & Gas: Rising Dual Chokepoint Risks
Renewed US-Iran tensions have decreased vessel traffic in the Strait of Hormuz, impacting oil prices and export risks for Saudi Arabia.
oil and gas
Saudi Arabia Reroutes Oil via Red Sea Pipelines to Bypass Blockades
Overland pipelines help bypass Gulf blockades, but shipping delays and rising costs continue to strain Saudi exports.
oil and gas
Malaysia Reviewing Petroleum Reserves to Strengthen Energy Security
Malaysia is reviewing its petroleum reserves to enhance energy security and address global supply uncertainties and geopolitical risks.
oil and gas
Oil Market Faces New Phase of Recovery Risks
Rystad warns oil prices hinge on resilience of flows, with escalation risks tightening markets and draining global buffers.
oil and gas
Red Sea and Hormuz Chokepoints Pressure Global Oil Supplies
Oil supply routes face mounting pressure as Houthi threats disrupt Red Sea shipments and attacks target Strait of Hormuz transits.
Business News
Ex-PETRONAS Manager Sought Petros Job Months Before Alleged Leak
Former PETRONAS manager applied for a Petros job months before allegedly attempting to leak confidential company information, court hears Tuesday.
Fuel
Government Expands Budi Diesel Quota for Pick‑Up and Jeep Owners
Government expands Budi Diesel quota to 300 litres monthly, aiding 200,000 pick‑up and jeep owners; transfer facility introduced.
Subsidy
Anwar Rules Out Fuel Price Hike, Says Billions Spent Monthly on Subsidies
Prime Minister Anwar Ibrahim rejected fuel price hike suggestions, emphasizing government subsidies to maintain low retail fuel prices for Malaysians.
United States
US-Iran Peace Deal Signals Immediate Price Impact, Delayed Oil Flow Recovery
US-Iran peace deal could lower oil prices immediately, but physical market recovery will take months due to shipping and insurance delays.
oil and gas
PETRONAS and ENEOS Reaffirm LNG Partnership for Energy Security
PETRONAS and ENEOS renew LNG partnership, securing 10% stake in MLNG Tiga to strengthen energy security and support Asia’s growing demand.
oil and gas
UAE Exit: Weakens OPEC+’s Control Over Spare Capacity
UAE exits OPEC+, weakening spare capacity control and signaling shift toward capacity-driven competition, raising volatility risks in global oil markets.