Asia Headlines

South Korea: Government to Expand Discounted Stations

South Korea's Government plans to open more stations selling fuel at a discounted price nationwide, the Finance Ministry has announced. At an economic policymakers meeting called to discuss stabilising consumer prices, ministry representatives revealed that it aimed to increase the number of discount fuel stations to 433 by the end of the month.


India: Economic Survey Calls for Diesel Subsidy Shake-Up

India's latest Economic Survey, introduced to parliament by Finance Minister Pranab Mukherjee (pictured), has called for a major reform of the diesel subsidy system. Arguing that subsidising diesel has a significant impact on health, public finances and the environment, the document proposes a system whereby cost increases will be passed on to the consumer. 


Malaysia: San Miguel Seeks Loan to Buy ExxonMobil Malaysia Assets - Report

San Miguel is looking to finance its purchase of ExxonMobil's assets in Malaysia through an $800m loan, according to a Reuters report. San Miguel, which in August agreed to buy the US company's Esso Malayisia, Exxon Mobil Malsysia and Exxon Mobil Borneo assets, has hired Standard Chartered, Maybank and UOB to assist it in sourcing the financing, said unnamed sources to the news agency.


Uzbekistan: 36 New Stations to be Built in 2012

Uzbekistan's Government plans to build 36 new fuel service stations and hundreds of new roads as part of its plan to modernise the country's national infrastructure. In total, 517km of new roads will be built this year as part of the plan, including 165km of paved, concrete roads. The initiative was approved by the country's president, Islam Karimov (pictured), in May 2009. 


Thailand: Government Seeks Increase in Reserves

Thailand's Government has asked the nation's oil refiners to increase their inventories as it seeks to secure fuel supplies amid growing Middle East tensions. Norkun Sitthiphong, Permanent Energy Secretary, confirmed that the request had been made to refiners, adding that more measures could be adopted depending on the course of events.

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