Oil benchmarks were on track for a seven-week decline on Friday, their first in half a decade, on worries about a supply surplus and weak Chinese demand, though prices rebounded after Saudi Arabia and Russia lobbied Opec+ members to join output cuts.

Oil heads for seven-week decline for first time in five years

JAKARTA (Dec 8): Indonesian state energy firm Pertamina has started an underground carbon injection trial in Sukowati field, the second site the company is testing for carbon capture, utilisation and storage (CCUS).

Indonesia's Pertamina starts carbon injection tests in Sukowati field

The Opec+ coalition’s grip on global oil markets is looking less secure by the day.

How Opec+ saw its hold on global oil markets fray despite extra production cuts

Oil prices reclaimed some ground on Thursday after tumbling to a six-month low the previous day, but investors remained concerned about sluggish demand in the US and China.

Oil stages small recovery as weak economic outlook lingers

Woodside Energy Group Ltd is in preliminary talks with Santos Ltd on a potential merger, opening the door for the creation of an Australian gas export powerhouse amid a global wave of multi-billion dollar energy deals.

Woodside, Santos in early merger talks to create LNG giant

Russia’s oil product exports rebounded in November as the easing of restrictions on road fuels and the end of refinery maintenance boosted flows.

Russian diesel and gasoline boost helps its fuel exports rebound

HOUSTON: Venezuelan state oil company PDVSA has assigned loading windows this month to two vessels bound for India under crude spot deals with Italy's ENI and US-based Chevron, an internal company document showed.

Venezuela's PDVSA authorises first two oil cargoes to India after sanctions relief

BENGALURU (Dec 6): Exxon Mobil will increase annual project spending to between US$22 billion and US$27 billion through 2027, the company said in an update that largely continues existing spending and production targets.

Exxon Mobil forecasts increases in project spending, output

Global benchmark Brent fell below US$78 a barrel, not far off its July low, despite Saudi Arabia saying Opec+ supply cuts can go beyond March if necessary.

Oil drops close to July low on scepticism over Opec+ cuts

Six major oil companies each contributed tens of millions of dollars to a grant fund meant to help state-owned rivals cull the release of super-warming methane emissions, but Chevron Corp and Exxon Mobil Corp didn’t join in.

Chevron, Exxon opt out of funding COP28 methane-cutting fund

Saudi Arabian Energy Minister Prince Abdulaziz bin Salman said the kingdom won’t agree to a text that calls for the phase-down of fossil fuels at the COP28 summit in Dubai.

Saudi energy minister won’t agree to fossil fuel phase-down

Oil prices extended declines on Monday, pressured by investor scepticism over the latest Opec+ decision on supply cuts and uncertainty surrounding global fuel demand, though the risk of supply disruptions from the Middle East conflict limited losses.

Oil falls on demand fears and doubts over Opec+ cuts 

Brazilian President Luiz Inacio Lula da Silva said on Saturday that Brazil's participation in the Opec+ group of oil-producing countries is to convince nations to transition away from the use of fossil fuels.

Lula says Brazil's participation in Opec+ is to stop oil producers using fossil fuels

Oil prices slumped more than 2% on Friday on investor scepticism about the depth of Opec+ supply cuts and concern about sluggish global manufacturing activity.

Brent crude futures for February settled down US$1.98, or 2.45%, at US$78.88 a barrel.

Oil prices fall more than 2% as investors sceptical of Opec+ cuts

HONG KONG (Dec 10): Three Hong Kong pro-democracy activists were arrested on Sunday, just before voting began in a "patriots only" district election that has marginalised formerly popular opposition figures in the city, amid a national security clampdown.

Hong Kong activists arrested in city's 'birdcage' election

KUALA LUMPUR (Dec 10): Malaysia has expressesed its utmost concern on any frivolous and vexatious attempts by any parties employing various tactics to undermine and disrupt the course of criminal proceeding currently ongoing against Gonzalo Stampa.

Malaysia expresses utmost concern over attempts to disrupt criminal proceedings against Gonzalo Stampa

BENGALURU (Dec 10): Social media platform X will reinstate the account of US conspiracy theorist Alex Jones after a poll of the site's users backed his return, X owner Elon Musk said on Sunday.

Musk says conspiracy theorist Alex Jones will be reinstated on X after poll

KUALA LUMPUR (Dec 10): A company and its director, a Singaporean, have been charged in the Sessions Court here on four charges of offering RM15 million worth of Islamic redeemable preference shares (iRPS) to the public between Aug 2020 and Aug 2021.

Company, director charged with offering RM15 mil worth of preference shares to public

GAZA/CAIRO (Dec 10): Israel ordered residents out of the centre of Gaza's main southern city Khan Younis and pounded the length of the enclave overnight, after the United States wielded its UN Security Council veto to shield its ally from a demand for a ceasefire.

Palestinians report Israeli battles in Khan Younis after US blocks Gaza ceasefire call

KUALA LUMPUR (Dec 10): A total of 351 sick and abandoned housing projects, with a gross development value (GDV) of RM32.87 billion, have been completed and restored by the Ministry of Local Government Development (KPKT) throughout one year of the Madani Government's administration.

Madani Govt one year anniversary: Restoring 351 problematic housing projects among ministry’s successes

SHANGHAI (Dec 10): China's securities regulator has published draft rules aimed at slashing trading commissions for mutual funds and addressing the conflict of interest between the securities trading and fund sales businesses of brokerages, the latest reform to the US$3.8 trillion mutual fund industry.

China proposes trading cost cuts for mutual funds, to regulate commissions

SHAH ALAM (Dec 10): A total of 97 individuals will receive the state awards, honours and medals in conjunction with the 78th birthday of the Sultan of Selangor Sultan Sharafuddin Idris Shah on Monday (Dec 11).

97 persons to receive awards, medals in conjunction with Selangor Sultan’s birthday

FOLLOWING a recent request for proposals (RFP) from the General Insurance Association of Malaysia aka Persatuan Insurans Am Malaysia (Piam) and the Malaysian Takaful Association (MTA), the Association of Accredited Advertising Agents Malaysia (4As Malaysia) would like to explicitly state its dissatisfaction with the demand by Piam and MTA for the ownership and retention of agencies’ intellectual property.

Association of advertising agents oppose tenders that usurp ownership of intellectual properties of proposals submitted

KUALA LUMPUR (Dec 10): The year 2023 saw Malaysia elevate its commitment toward an inclusive and sustainable public transportation service, which augurs well with the newly launched National Energy Transition Roadmap (NETR) that emphasises clean energy.

Sustainability: The buzzword in 2023 for transportation

KUALA LUMPUR (Dec 10):&nbsp;Husband-and-wife team Ng Han Yang and Rachel Leong, scions of property development and timber families, make their first foray into F&amp;B (food &amp; beverage) with the recent opening of Mellow at Petaling Jaya’s Seventeen Mall.

Days of wine + roses

KUANTAN (Dec 10): The installation of the first track for the East Coast Rail Link (ECRL) project will begin on Monday (Dec 11) — three years before the 665-kilometre (km) railway line that connects the East Coast and the West Coast in the peninsula starts operating in January 2027.

King to grace ceremony to instal first ECRL track on Dec 11

KUALA LUMPUR (Dec 10): A company and its director, a Singaporean, have been charged in the Sessions Court here on four charges of offering RM15 million worth of Islamic redeemable preference shares (iRPS) to the public between Aug 2020 and Aug 2021.

KUALA LUMPUR (Dec 10):&nbsp;Travilion Group of Companies launched its Parq Residence project on Dec 8, and it will be one of the tallest residential buildings in Kuching. Chief executive officer (CEO) Datuk Seri John Lau and co-chief operating officer (co-COO) Peter Lau believe the project will do well, thanks to encouraging booking numbers and also their confidence that high-rise living is something Sarawakians are accepting now.&nbsp;

The sky’s the limit

KUALA LUMPUR (Dec 10): The year 2023 saw Malaysia elevate its commitment toward an inclusive and sustainable public transportation service, which augurs well with the newly launched National Energy Transition Roadmap (NETR) that emphasises clean energy.

DUBAI (Dec 9): Countries clashed on Saturday over a possible agreement to phase-out fossil fuels at the COP28 summit in Dubai, jeopardising attempts to deliver a first-ever commitment to eventually end the use of oil and gas in 30 years of global warming talks.

COP28 clashes over fossil fuel phase-out after Opec pushback

SHAH ALAM (Dec 10):&nbsp;A total of 97 individuals will receive the state awards, honours and medals in conjunction with the 78th birthday of the Sultan of Selangor Sultan Sharafuddin Idris Shah on Monday (Dec 11).

KUALA LUMPUR (Dec 10): Saitama Prefecture, which is ranked fifth in terms of population and economic productivity among the prefectures of Japan, is exploring further investment opportunities in Malaysia in the halal food and automated machinery industries.

Japan's Saitama Prefecture keen to invest in halal food, machinery industries in Malaysia

SYDNEY (Dec 10): Australia will triple fees on purchases of existing homes by foreign buyers, Treasurer Jim Chalmers said on Sunday, as part of measures aimed at increasing the supply of affordable housing.

Australia to triple fees on foreign purchasers of existing homes

FOLLOWING a recent request for proposals (RFP) from the General Insurance Association of Malaysia aka Persatuan Insurans Am Malaysia (Piam) and the Malaysian Takaful Association (MTA), the Association of Accredited Advertising Agents Malaysia (4As Malaysia) would like to explicitly state its dissatisfaction with the demand by Piam&nbsp;and MTA for the ownership and retention of agencies’ intellectual property.

SHANGHAI (Dec 10): China's securities regulator has published draft rules aimed at slashing trading commissions for mutual funds and addressing the conflict of interest between the securities trading and fund sales businesses of brokerages, the latest reform to the US$3.8 trillion mutual fund industry.

KUALA LUMPUR (Dec 10): Malaysia has expressesed its utmost concern on any frivolous and vexatious attempts by any parties employing various tactics to undermine and disrupt the course of criminal proceeding currently ongoing against Gonzalo Stampa.

KUALA LUMPUR (Dec 10): A total of 351 sick and abandoned housing projects, with a gross development value (GDV) of RM32.87 billion, have been completed and restored by the Ministry of Local Government Development (KPKT)&nbsp;throughout one year of the Madani&nbsp;Government's administration.

BEIJING (Dec 10): The Philippines and China traded accusations on Sunday over a collision of their vessels in disputed waters of the South China Sea, as tensions over claims in the vital waterway escalate.

Philippines, China trade accusations over South China Sea collision

GAZA/CAIRO (Dec 10): Israel ordered residents out of the centre of Gaza's main southern city Khan Younis and pounded the length of the enclave overnight, after the United States wielded its UN&nbsp;Security Council veto to shield its ally from a demand for a ceasefire.

BENGALURU (Dec 10): Social media platform X will reinstate the account of US conspiracy theorist Alex Jones after a poll of the site's users backed his return, X owner Elon Musk said on Sunday.

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