Latest news and articles about energy strategy from NEX English
Idemitsu Kosan, a leading Japanese oil refining company, has announced a medium-term plan to invest <strong>1.8 trillion yen</strong> (approximately <strong>11.4 billion USD</strong>) in the fossil fuel sector. This marks a significant shift in the company's strategy, moving away from its previous goal of reducing reliance on fossil fuels.
The Cabinet has approved the energy sector strategy for 2025-2035, aiming to enhance energy efficiency and achieve sustainability. This initiative focuses on developing renewable energy sources and improving infrastructure.
The Energy Committee visited the Ministry of Energy to discuss the sector's strategy for the period from 2025 to 2035. This visit aims to enhance cooperation among stakeholders in developing the energy sector.
The United Arab Emirates has announced its withdrawal from OPEC and OPEC+, stating that this decision aligns with its long-term energy strategy. This move comes amid significant disruptions in the energy market due to the ongoing US-Israel conflict against Iran.
Vietnam is preparing for above-average temperatures in the coming weeks, prompting the government to boost its imports of liquefied natural gas (LNG). This decision comes amid the global supply impacts and price increases due to the ongoing war in Iran.
China's long-term energy diversification strategy demonstrates its ability to adapt to disruptions caused by the conflict with Iran, despite ongoing challenges in certain sectors. Analysts highlight that while China is a net oil importer, its focus on energy security has positioned it better than some of its Asian neighbors.
An energy expert confirmed that the state is striving to achieve self-sufficiency in petroleum products through a comprehensive strategy aimed at enhancing local production and reducing reliance on imports.
Asian countries are facing significant challenges in securing energy supplies as the war in Iran continues into its second month. The shift to coal as an alternative to imported oil and gas raises questions about the future of the region's energy strategy.