US says can provide 'reliable' energy supply to Asia-Pacific
CNA
TOKYO: The United States can provide "reliable" energy supplies to Asia-Pacific, US Interior Secretary Doug Burgum said on Saturday (Mar 14), as the Middle East war cripples the region's oil and gas flow.
TOKYO: The United States can provide "reliable" energy supplies to Asia-Pacific, US Interior Secretary Doug Burgum said on Saturday (Mar 14), as the Middle East war cripples the region's oil and gas flow.Oil and gas prices have surged since US-Israeli strikes on Iran killed its supreme leader and plunged the Middle East into war.The conflict has virtually halted traffic in the Strait of Hormuz, a key transit point for oil and gas, the vast majority of which is destined for Asia.US President Donald Trump's "energy dominance" policy aims to ensure that "we have energy to allow for prosperity at home, and we have the ability to sell energy to our friends and allies," Burgum told an event in Tokyo bringing together 17 countries from the region.That ensures the region has a "reliable, affordable and secure" energy supply that "can't be interrupted by a terrorist regime," he said.Burgum also addressed the need for a secure supply of critical minerals, as countries push to cut their dependence on top exporter China.Critical minerals such as lithium and cobalt are used in everything from electric vehicles, solar panels and smartphones to jet engines and guided missiles.The forum, which was organised before the Middle East war erupted on Feb 28, brings together political leaders and US energy companies aiming to seal commercial agreements.Countries taking part in the forum, including Japan, South Korea and Thailand, are expected to announce at least US$30 billion in energy and minerals deals with the United States, Bloomberg reported.Japan, the world's fourth-biggest economy which gets 95 per cent of its oil imports from the Middle East, unveiled a memorandum of understanding with Washington to jointly finance "strategic infrastructure" projects in emerging markets.Tokyo has agreed to invest US$550 billion in the United States by 2029 in return for lower tariffs under Trump's campaign of punishing global levies.Japanese giant Hitachi and US firm GE Vernova also agreed on Saturday to explore Southeast Asia for opportunities to build next-generation reactors known as small modular reactors (SMRs).Holtec and Mitsubishi Electric are also partnering in the nuclear sector.US company Venture Global concluded a long-term contract to supply 1.5 million tons of liquefied natural gas to a subsidiary of South Korean conglomerate Hanwha."The United States is by far the largest oil producer in the world. So when prices go up, we make a lot of money," Trump posted this week on his TruthSocial platform.The president is a staunch supporter of the oil industry and has championed his "drill, baby, drill" mantra promoting oil and gas production.
BAGHDAD: Israel said the war against Iran was entering its "decisive phase" on Saturday (Mar 14), as explosions rocked cities across the Middle East, with strikes on the US embassy in Baghdad and a major Emirati energy facility.Black smoke rose above Washington's embassy in Iraq, AFP journalists saw, the seco
TOKYO: The United States can provide "reliable" energy supplies to Asia-Pacific, US Interior Secretary Doug Burgum said on Saturday (Mar 14), as the Middle East war cripples the region's oil and gas flow.
The oil will be released in the form of loans that companies will return with extra barrels as a premium, the US Energy Department said.
SHANGHAI: Chinese Foreign Minister Wang Yi told his Afghan counterpart Amir Khan Muttaqi in a phone call that disputes between Afghanistan and Pakistan should be resolved through dialogue and consultation, not
SEOUL/TOKYO: North Korea fired a projectile towards the sea on Saturday (Mar 14), South Korea and Japan said, with Tokyo saying it may have been a ballistic missile, while the US and South Korea conducted military drills.The projectile was fired toward the sea off North Korea's east coast, the South Korean mi
JAKARTA: Indonesia's senior economic minister said on Friday (Mar 13) that the country may impose additional taxes on certain commodities, such as palm oil, if the government needs to reduce the impact on the budget from risin
The United States has deployed its USS Tripoli amphibious assault ship to the Middle East, reports say, as the war with Iran enters its third week.
JAKARTA: Two men on a motorbike threw acid in the face of an Indonesian rights activist, leaving him badly hurt and prompting calls on Friday (Mar 13) for a thorough investigation amid concerns of democratic backsliding in the country.Andrie Yunus, deputy coordinator of the KontraS rights group, sustained se
The Malaysian government is in a strong position to absorb the higher costs due to the various fiscal reforms and consolidation measures implemented over the past three years, said Finance Minister II Amir Hamzah Azizan.
A second arms package, worth around US$14 billion, could be approved for Taiwan after US President Donald Trump visits Beijing later this month.
TEHRAN: Fresh strikes rocked Iran and several Gulf countries on Friday (Mar 13), as Israel and the Islamic Republic unleashed a new wave of attacks in a war that has ignited the Middle East and threatens to torpedo the wor
Thailand alleges that the area had been used as a base of operations by the Cambodian military as well as criminals running transnational scams.
"While starting a war is easy, it cannot be won with a few tweets. We will not relent until making you sorry for this grave miscalculation," says Iranian security chief Ali Larijani.