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☆ Taylor Swift: It's a 'Cruel Summer' for fans in Asia as Singapore shows sell out
▼ + stars: | 2023-07-14 | by ( Heather Chen | ) edition.cnn.com time to read: +8 min

CNN —It’s been a Cruel Summer for Taylor Swift fans in Asia. Among them was Jordan Lee, a die hard Swiftie from Jakarta who told CNN that he had come “close to snagging” a ticket, priced $80 and up. “They weren’t violent but they made their views very clear, the same would happen with Taylor Swift if she came to Malaysia,” he said. Venues can only hold about 20,000 people, which is too few for Taylor Swift and her Eras Tour, which will be a big production. Taylor Swift performs onstage during her US-leg of the Eras Tour.

Persons: CNN — It’s, Taylor Swift, Swift, “, Jordan Lee, ” Lee, Taylor Hill, Nur Hazlina, Pita Limjaroenrat, Thais, Suzanne Codeiro, Syed Saddiq, ”, Selena Gomez, Lady Gaga, Stuart MacFarlane, Song Seng, “ Swift Organizations: CNN, Organizers, Ticketmaster, Swift, Rights, Kuala Lumpur, Party, T, Getty, Philippine, Coldplay, Malaysian Islamic, “, ”, Arsenal FC, Kallang, Management, Singapore’s Ministry of Culture ,, Youth Locations: Asia, Singapore, Southeast Asia, Bangkok, Manila, Jakarta, United States, South America, Europe, Australia, New Zealand, Japan, Kuala, Thailand, “ Thailand, Philippines, Arlington , Texas, AFP, Malaysia, Indonesia, British, Malaysian, Kuala Lumpur, “ Malaysia, Hong Kong

☆ Malaysia seeks proposals to revive high-speed rail project with Singapore
▼ + stars: | 2023-07-11 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, July 11 (Reuters) - Malaysia on Tuesday said it was seeking proposals from private firms to develop a high-speed railway between its capital Kuala Lumpur and neighbouring Singapore, reviving a multi-billion-dollar project called off more than two years ago. Malaysia and Singapore had cancelled a plan to build a 350-kilometre (217-mile) rail line connecting the two countries after they failed to agree on several proposed changes to the project. MyHSR invited local and international firms and consortia to submit proposals. Singapore indicated last year the country is open to fresh proposals from Malaysia on the project, according to media. Reporting by A. Ananthalakshmi in Kuala Lumpur, Chen Lin in Singapore; Editing by Kanupriya KapoorOur Standards: The Thomson Reuters Trust Principles.

Persons: MyHSR, Chen Lin, Kanupriya Kapoor Organizations: MyHSR Corp, Speed, Thomson Locations: KUALA LUMPUR, Malaysia, Kuala Lumpur, Singapore, China, Japan, South Korea, Europe, Malaysian

☆ Attention to detail is key in our projects, says Malaysian infrastructure firm
▼ + stars: | 2023-07-11 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAttention to detail is key in our projects, says Malaysian infrastructure firmCNBC's Christine Tan meets YTL Corporation's chairman, Francis Yeoh, and his son, Joseph, who oversaw the "transformation" of The Starhill, a shopping mall in Kuala Lumpur, Malaysia.

Persons: Christine Tan, YTL Corporation's, Francis Yeoh, Joseph Locations: Malaysian, Kuala Lumpur, Malaysia

☆ TotalEnergies boss: 2024 U.S. election could cause energy shock
▼ + stars: | 2023-07-08 | by ( ) www.reuters.com time to read: +2 min

[1/2] Chairman and CEO of TotalEnergies Patrick Pouyanne speaks during the Energy Asia conference in Kuala Lumpur, Malaysia June 26, 2023. REUTERS/Hasnoor Hussain/File PhotoCompanies TotalEnergies SE FollowPARIS, July 8 (Reuters) - The U.S. presidential election could trigger a major energy shock if Republicans were to win and decide to halt hydrocarbon exports, Patrick Pouyanné, the chief executive of French oil major TotalEnergies (TTEF.PA), said on Saturday. "The only thing that could happen, which is a major systemic risk, is that the Republicans decide to stop exporting ... At least 11 Republican candidates have announced that they will try to win their party's nomination to take on Democratic President Joe Biden in the November 2024 election. Pouyanné also said he expected a "sustainably high" oil barrel price due to the global shift towards cleaner sources of energy and the decrease in oil investments.

Persons: TotalEnergies Patrick Pouyanne, Hasnoor Hussain, Patrick Pouyanné, Pouyanne, Joe Biden, Biden, Pouyanné, Benjamin Mallet, Tassilo Hummel, Alison Williams Organizations: Energy Asia, REUTERS, U.S, Republican, Democratic, Strategic Petroleum Reserve, Thomson Locations: Kuala Lumpur, Malaysia, PARIS, Ukraine

SINGAPORE, July 7 (Reuters) - After standing in line for 36 hours, Qayyum Lukman on Friday emerged triumphant from a kiosk where he had just scored tickets to see pop sensation Taylor Swift perform in Singapore, her only stop in Southeast Asia next year. I don’t know what to think, indescribable, I’m very happy I got tickets! Indonesian Friski Riana, 31, joined virtual queues of millions of fans, even borrowing her friend's credit card to try and get tickets. [1/5]Qayyum Lukman, 25, full-time national servicemen, poses with a Taylor Swift vinyl album, as he waits first in line to buy Taylor Swift concert tickets, at a post office in Singapore July 7, 2023. Hours after the pre-sale closed, touts were marking up S$358 ($264.73) tickets to at least S$1,000 on marketplace app Carousell.

Persons: Qayyum Lukman, Taylor Swift, Swift, Lukman, I’m, ”, couldn't, Edgar Su, Friski, Thailand's, Pita Limjareonrat, Lavender, Chayut, Ananda, Kanupriya Kapoor, Simon Cameron, Moore Organizations: REUTERS, Coldplay, Business Times, Twitter, Thomson Locations: SINGAPORE, Singapore, Southeast Asia, Thailand, Malaysia, Indonesia, Vietnam, British, Jakarta, Bangkok, Manila, Kuala Lumpur, Ananda Teresia

☆ Mercedes' Toto Wolff shares his tips on leading a superstar team and 2 key values for long-term success
▼ + stars: | 2023-07-04 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +4 min

For me, the notion of control freak is: know everything that's going on, but not interfering in everything that's going on. Toto Wolff Team Principal of Mercedes F1"And when you win, have no sense of entitlement... Mercedes drivers Lewis Hamilton and George Russell currently stand in fourth and seventh in the drivers' rankings, respectively. Mercedes drivers Lewis Hamilton (R) and George Russell (L) currently take the fourth and seventh placing in the 2023 Driver Standing respectively. "So for me, the notion of control freak is: know everything that's going on, but not interfering in everything that's going on... and getting that balance right."

Persons: Toto Wolff, Eric Alonso, Wolff, Mercedes, Red Bull, Lewis Hamilton, George Russell, Red, Max Verstappen, It's, Peter Fox, Williams Organizations: Jeddah Corniche, Getty, Mercedes, Petronas F1 Team, Energy Asia, Petronas, Abu, Grand Prix, Anadolu Agency, Prix, of Russia, Sochi Autodrom, Hamilton Locations: Saudi Arabia, Jeddah, Jeddah Corniche Circuit, Malaysia's, Kuala Lumpur, Grand, Sochi, Russia

☆ The CEO of Malaysia Airlines, Captain Izham Ismail, went from selling snacks as a child to running a fleet of airplanes
▼ + stars: | 2023-07-02 | by ( Chris Johnston | ) www.businessinsider.com time to read: +6 min

Captain Izham Ismail started flying for Malaysia Airlines in 1979 and became its CEO in 2017. Yet despite coming from such a modest background, Ismail went on to become a pilot and then run Malaysia Airlines, one of the world's oldest carriers. Ismail started flying for Malaysia Airlines in 1979, became a captain and a decade later was selected for its senior management training scheme. After running one of its regional carriers and becoming group chief operating officer, Ismail was elevated to CEO of Malaysia Airlines in 2017. Malaysia Airlines has 11,000 staff, down from 35,000 two decades ago, and flies to almost 50 destinations, mostly in Asia, with 106 aircraft that are all leased.

Persons: Izham Ismail, Ismail, it's, —, Captain Izham Ismail, –, Mohd Rasfan, Khazanah, Christopher Mueller, He'd, Sabena, Mat Zain Organizations: Malaysia Airlines, Service, Bournemouth University, Philippine Airlines, MIT, Stanford, Boeing, Netflix, Aer Lingus, Germany's Lufthansa, Malaysian, British Airways, American Airlines . Malaysia Airlines, Qatar Airways, Emirates Locations: Malaysia, England, Malaysia's, Istanbul, London, Court, Kuala Lumpur, Beijing, Ukraine, Russian, Malaysian, Asia

☆ Oil and gas will continue to power the world for decades to come, big oil firms say
▼ + stars: | 2023-06-30 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +5 min

"We think the biggest realization that should come out of this conference ... is oil and gas are needed for decades to come," said John Hess, CEO of U.S. oil company Hess Corporation. A.S. Sahney Executive Director of Indian Oil CorporationHess said oil and gas are key to the world's economic competitiveness, as well as an affordable and secure energy transition. "The world is facing a structural deficit in energy supply, in oil and gas, in clean energy," he said. "That shows our belief in [the] continuance of fuel," the executive director said, acknowledging that energy transition is here to stay. Oil demand an 'ancient story'Commodities trading firm Vitol is less bullish, predicting that demand for crude will peak in 2030 — two years later than the IEA's forecast.

Persons: John Hess, Hess, Indian Oil Corporation Hess, Haitham Al Ghais, Erin McGrath, Dan Yergin, TotalEnergies, Patrick Pouyanne, Amin Nasser, Russell Hardy, Russia's Organizations: Barcroft Media, Getty, Energy Asia, Hess Corporation, International Energy Agency, Sahney, Indian Oil Corporation, OPEC's, Hess Corp, Energy Asia Summit, Bloomberg, ExxonMobil, CNBC, U.S, Commodities, EV Locations: Lake, China's Jiangsu, Malaysia's, Kuala Lumpur, India, A.S, Malaysia, Asia, Africa, America, Europe, China, Korea, Japan, Vietnam, Saudi Arabia's, Aramco

☆ Asia must reach net zero before the world can do so, says Petronas CEO
▼ + stars: | 2023-06-28 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +2 min

Petronas sign against the backdrop of the Twin Towers. Goh Seng Chong | Bloomberg | Getty ImagesAsia needs to achieve net zero before the world can do so, according to the CEO of Malaysia's state-owned oil and gas company Petronas. "The bulk of the emissions [that] are expected to emit will be produced in Asia going forward," Tengku Muhammad Taufik told CNBC's JP Ong Tuesday on the sidelines of the Energy Asia in Kuala Lumpur, Malaysia. "The world cannot achieve net zero without Asia achieving net zero," Taufik pointed out during the opening address of summit. Asia will represent half of global GDP by 2040, as well as 40% of global consumption, he added.

Persons: Goh Seng Chong, Tengku Muhammad Taufik, CNBC's JP Ong, Taufik, idealists Organizations: Petronas, Bloomberg, Getty, Energy, International Energy Agency Locations: Asia, Malaysia's, Energy Asia, Kuala Lumpur, Malaysia, Paris

The cost of certain goods is retreating in some places, but that doesn't include live music. Concert tickets have surged in price, to the point where economists are noticing. While ticket prices have increased, he said, mid-year figures haven't shown an appreciable rise since May 2022, when U.S. inflation was 8.6%. In India, fans are happy to pay a premium for quality entertainment, according to Owen Roncon, chief of business for Live Entertainment at BookMyShow. In Britain, about 150,000 music fans paid 340 pounds ($431)for a ticket to June's Glastonbury festival to see Elton John and hundreds of other acts.

Persons: Taylor Swift, Bruce Springsteen, haven't, Mario Ihieme, Paul Donovan, Harry Styles, Joel Barrios, Carolina Candelas, Andy Gensler, Pollstar, TD Cowen, Stephen Glagola, Elton John, Jason Cairnduff, Bruno Mars, Coldplay, Fairuz Zahari, Ed Sheeran, Owen Roncon, Eventbrite, Michael Rapino, Beth Cook, Dawn Chmielewski, Danielle Broadway, Sachin Ravikumar, David Milliken, Sharon Kimathi, Rozanna, Radhika Anilkumar, David Gaffen, Catherine Evans Organizations: LOS ANGELES, National Statistics, UBS Global Wealth Management, Stubhub, Ticketmaster, REUTERS, U.S . Labor Department, Backstreet, Live Entertainment, Backstreet Boys, Entertainment, Thomson Locations: Asia, U.S, GLASTONBURY, England, London, Seattle, Mexico City, Los Angeles, Europe, Barcelona, Glastonbury, Somerset, Britain, Malaysia, Australia, India, Leeds, Kuala Lumpur, Bangalore

The cost of certain goods is retreating in some places, but that doesn't include live music. Concert tickets have surged in price, to the point where economists are noticing. Event prices in UK inflation data are based on when shows take place, not when tickets are bought. While ticket prices have increased, he said, mid-year figures haven't shown an appreciable rise since May 2022, when U.S. inflation was 8.6%. The U.S. Labor Department does not specifically measure inflation for concert prices, but the inflation rate for live performing admission events is currently 2.6 percentage points more than U.S. headline inflation.

Persons: Taylor Swift, Bruce Springsteen, haven't, Mario Ihieme, Paul Donovan, Harry Styles, Joel Barrios, Carolina Candelas, Andy Gensler, Pollstar, TD Cowen, Stephen Glagola, Bruno Mars, Coldplay, Fairuz Zahari, Ed Sheeran, Owen Roncon, Eventbrite, Michael Rapino, Elton John, Beth Cook, Dawn Chmielewski, Danielle Broadway, Sachin Ravikumar, David Milliken, Sharon Kimathi, Rozanna, Radhika Anilkumar, David Gaffen, Catherine Evans Organizations: LOS ANGELES, National Statistics, UBS Global Wealth Management, Stubhub, Ticketmaster, U.S . Labor Department, Backstreet, Live Entertainment, Backstreet Boys, Entertainment, Thomson Locations: Asia, U.S, GLASTONBURY, England, London, Seattle, Mexico City, Los Angeles, Europe, Barcelona, Malaysia, Australia, India, Britain, Leeds, Glastonbury, Kuala Lumpur, Bangalore

They have since sought to seize Malaysian government assets in France, Luxembourg and the Netherlands, in a bid to enforce the award. In September, the heirs sought permission from a Dutch court to enforce the award in the Netherlands, Reuters reported. Lawyer Paul Cohen, acting for the Sulu heirs, said they were disappointed with the court decision. The heirs say they were not involved in the incursion and sought arbitration over the suspension of payments. This month, a Paris court upheld the Malaysian government's challenge against enforcing a partial award to the heirs.

Persons: Anwar Ibrahim, Anwar, Lawyer Paul Cohen, Sulu, Stephanie van den Berg, Rozanna, Robert Birsel, Clarence Fernandez, Mark Potter Organizations: THE HAGUE, Malaysian, Malaysia, Reuters, Borneo . Independent Malaysia, Thomson Locations: KUALA LUMPUR, Malaysia, Paris, Sulu, France, Luxembourg, Netherlands, Philippines, Borneo ., Kuala Lumpur

☆ Saudi Aramco looks to China and India to prop up oil markets
▼ + stars: | 2023-06-27 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

KUALA LUMPUR, Malaysia — Saudi Arabia's state-owned oil giant Aramco is bullish on oil markets for the rest of 2023 as demand from major importers China and India is expected to be strong despite an expected global downturn. His optimism comes even as the world's largest oil importer China is showing signs of stalling growth, prompting several cuts in the country's key lending rates. "Despite the recession risks in several OECD countries, the economies of developing countries, especially China and India, are driving oil demand growth of more than 2 million barrels per day this year," said Nasser. Once the broader global economy starts to recover, the industry's supply demand balances will likely tighten, he projected. "Although China is facing some economic headwinds, the transport and petrochemical sectors are still showing signs of demand growth," the CEO added.

Persons: Amin Nasser, Nasser Organizations: Energy Asia Locations: KUALA LUMPUR, Malaysia, Saudi Arabia's, Aramco, China, India, Malaysian, Kuala Lumpur

☆ Malaysia's sovereign wealth fund seeks greater portfolio resilience in volatile markets
▼ + stars: | 2023-06-27 | by ( Clement Tan | ) www.cnbc.com time to read: +1 min

Malaysia's sovereign wealth fund Khazanah Nasional is rebalancing its investment portfolio for greater resilience against market volatility, according to its managing director. Khazanah's net asset value declined 5% to 81 billion ringgit ($17.4 billion) in 2022 from a year ago, hit by global market downtrends, the fund said in March. The Kuala Lumpur-based fund invests more than half of its portfolio in public markets. "Looking at the volatility in the market, we are still in the process of rebalancing our portfolio," he added. Khazanah posted a 1.6 billion ringgit ($343 million) net profit in 2022 — more than doubling its net profit from the year before and a fourth-straight annual net profit after an unprecedented plunge in 2018.

Persons: Amirul Feisal Wan Zahir, Khazanah Organizations: CNBC, Energy Asia Locations: Khazanah Nasional, Kuala Lumpur

KUALA LUMPUR, June 26 (Reuters) - Saudi Aramco (2222.SE) believes market fundamentals remain "sound" for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering on Monday. "Overall, we believe that oil market fundamentals remain generally sound for the rest of the year," said Nasser, who heads the world's largest oil company. "Despite the recession risks in several OECD countries, the economies of developing countries – especially China and India – are driving healthy oil demand growth of more than 2 million barrels per day this year," he told the conference. Although China faces economic headwinds, the transport and petrochemical sectors are still showing signs of demand growth, he added. Looking ahead, Vitol said oil demand could peak around 2030.

Persons: Amin Nasser, Nasser, Daniel Yergin, Russell Hardy, Sazali Hamzah, Petronas, Vitol, Hardy, Muyu Xu, Florence Tan, Christopher Cushing, Himani Sarkar, Conor Humphries Organizations: Saudi Aramco, Energy Asia, Petronas, Brent, Organization of, Petroleum, P Global, Vitol, EV, Thomson Locations: KUALA LUMPUR, Saudi, China, India, Kuala Lumpur, Malaysia, Russia, Iran, Saudi Arabia

☆ OPEC sees global oil demand rising to 110 mln bpd by 2045
▼ + stars: | 2023-06-26 | by ( ) www.reuters.com time to read: 1 min

KUALA LUMPUR, June 26 (Reuters) - OPEC expects global oil demand to rise to 110 million barrels per day (bpd) and overall energy demand to rise 23% by 2045, its Secretary General Haitham Al Ghais said on Monday. (This story has been corrected to say global energy demand is set to rise 23% by 2045, not oil demand)Reporting by Muyu Xu; Editing by Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Haitham Al Ghais, Muyu Xu, Kim Coghill Organizations: OPEC, Thomson Locations: KUALA LUMPUR

☆ Hydrocarbons will be important part of future ASEAN energy mix
▼ + stars: | 2023-06-26 | by ( Mei Mei Chu | ) www.reuters.com time to read: +2 min

[1/4] Logo of Energy Asia conference is seen during the event in Kuala Lumpur, Malaysia June 26, 2023. REUTERS/Hasnoor HussainKUALA LUMPUR, June 26 (Reuters) - Hydrocarbons will continue to be an important part of the energy mix in Southeast Asia, Malaysian Prime Minister Anwar Ibrahim said on Monday, as affordability and energy security remain key concerns for the region of more than half a billion people. Achieving net-zero emissions targets should not come "at the expense of economic growth or vice versa", Anwar said in opening the inaugural Energy Asia conference, hosted by Malaysia's state oil firm Petronas (PETRA.UL). Anwar said natural gas would play an important role in the energy mix for Malaysia, which is among the world's top five LNG exporters. The event brings together global energy leaders, companies and policymakers to discuss the region's energy transition.

Persons: Anwar Ibrahim, Anwar, IRENA, Kanupriya Kapoor, Kim Coghill, Himani Organizations: Energy Asia, REUTERS, Malaysian, Petronas, Malaysia, Organization of, Petroleum, International Renewable Energy Agency, Saudi Aramco, TotalEnergies, Thomson Locations: Kuala Lumpur, Malaysia, Hussain KUALA LUMPUR, Southeast Asia, Asia, Saudi

☆ Indonesia's Pertamina, Malaysia's Petronas aim to take over Shell's Masela stake
▼ + stars: | 2023-06-26 | by ( Emily Chow | ) www.reuters.com time to read: 1 min

KUALA LUMPUR, June 26 (Reuters) - Indonesia's state energy company Pertamina and Malaysia's Petroliam Nasional (Petronas) plan to jointly take over Shell's participating interest in the Masela gas project, Indonesia's energy minister said on Monday. Shell currently has 35% of the shares in the project and authorities are keen for the companies to complete the deal to move the project forward after years of delay. "They are both doing the negotiation," the minister, Arifin Tasrif, told Reuters, referring to Pertamina and Petronas. "They have to finalise what kind of joint scheme they are preparing," he said on the sidelines of an Energy Asia conference. Reporting by Emily Chow, Writing by Fransiska Nangoy Editing by Shri Navaratnam, Robert BirselOur Standards: The Thomson Reuters Trust Principles.

Persons: Shell, Arifin Tasrif, Emily Chow, Fransiska, Shri Navaratnam, Robert Birsel Organizations: Petronas, Reuters, Energy, Thomson Locations: KUALA LUMPUR, Petroliam Nasional, Energy Asia

☆ 'Not realistic' for Malaysia to achieve net-zero by itself, says Prime Minister Anwar Ibrahim
▼ + stars: | 2023-06-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

KUALA LUMPUR, Malaysia — Malaysia has ambitious goals to cut its greenhouse gas emissions by 2050 — but the Southeast Asian nation cannot do it alone, said the country's Prime Minister Anwar Ibrahim. "They expect developing countries like Malaysia to do it on our own which is not realistic," Anwar told CNBC's JP Ong at the Energy Asia conference in Kuala Lumpur, Malaysia. In March, the International Renewable Energy Agency forecast that Malaysia will need to double its renewable energy transition investments to at least $375 billion in order to meet its 2050 net-zero emissions goals. Anwar reaffirmed Malaysia's commitment to these goals, but said partners in developed nations "have to understand that the transition takes time and takes investments" and that they have to "play their part." The energy transition has started, has begun."

Persons: —, Anwar Ibrahim, Anwar, CNBC's JP Ong, Malaysia's Organizations: Malaysia —, country's, Energy Asia, International Renewable Energy Agency Locations: KUALA LUMPUR, Malaysia, Malaysia — Malaysia, Kuala Lumpur

☆ Global oil market fundamentals sound for rest of 2023 - Aramco CEO says
▼ + stars: | 2023-06-26 | by ( Muyu Xu | ) www.reuters.com time to read: +1 min

Companies Saudi Arabian Oil Co FollowKUALA LUMPUR, June 26 (Reuters) - Global oil market fundamentals are expected to remain sound for the rest of the year, underpinned by healthy demand in developing countries, especially in China and India, Saudi Aramco CEO Amin Nasser said on Monday. "Overall, we believe that oil market fundamentals remain generally sound for the rest of the year," Nasser told the Energy Asia conference, hosted by Malaysia's state oil firm Petronas. "Despite the recession risks in several OECD countries, the economies of developing countries – especially China and India – are driving healthy oil demand growth of more than 2 million barrels per day this year," he said. Although China is facing some economic headwinds, the transport and petrochemical sectors are still showing signs of demand growth, he added. Reporting by Muyu Xu; Writing by Florence Tan; Editing by Christopher Cushing and Himani SarkarOur Standards: The Thomson Reuters Trust Principles.

Persons: Amin Nasser, Nasser, Muyu Xu, Florence Tan, Christopher Cushing, Himani Organizations: Saudi Arabian Oil, Energy Asia, Petronas, Brent, Organization of, Petroleum, Thomson Locations: KUALA LUMPUR, China, India, Saudi Aramco, Russia, Iran, Saudi Arabia

☆ OPEC says oil demand will hit 110 million barrels per day in 2045
▼ + stars: | 2023-06-26 | by ( Lee Ying Shan | ) www.cnbc.com time to read: +1 min

In October last year, the oil cartel announced its decision to cut output by two million barrels per day. Joe Klamar | Afp | Getty ImagesKUALA LUMPUR — Global oil demand will rise to 110 million barrels a day in about 20 years, pushing the world's energy demand up by 23%, said OPEC on Monday. "In our worldwide outlook, we see global oil demand rising to 110 million barrels a day by 2045," he said, adding that oil will still comprise about 29% of the energy mix by then. Stock Chart Icon Stock chart iconThe forecast contradicts the International Energy Agency's predictions of annual demand growth thinning down from 2.4 million barrels per day in 2023 to 400,000 barrels per day in 2028. Two weeks ago, the IEA projected that global oil demand will increase 6% from 2022 to 105.7 million barrels per day in 2028 on the back of petrochemical and aviation sectors.

Persons: Joe Klamar, Haitham Al Ghais, Al Ghais, Al Ghais OPEC's Organizations: Afp, Getty, of, Petroleum, Energy Asia, International Energy, IEA, Gas Locations: OPEC, KUALA LUMPUR, Malaysian, Kuala Lumpur

☆ Malaysia to take legal action against Meta over harmful content
▼ + stars: | 2023-06-24 | by ( A. Ananthalakshmi | ) www.reuters.com time to read: +3 min

KUALA LUMPUR, June 23 (Reuters) - Malaysia said on Friday it will take legal action against Facebook parent Meta Platforms (META.O) for failing to remove "undesirable" posts, the strongest measure the country has taken to date over such content. It said Meta had failed to take sufficient action despite its repeated requests and that legal action was necessary to promote accountability for cybersecurity and to protect consumers. Asked what legal action it might take, the commission said in an emailed statement on Saturday that allowing abuse of network facilities or application services can be offences under Malaysia's Communications and Multimedia Act 1998. Facebook is Malaysia's biggest social media platform, with an estimated 60% of the country's 33 million people having a registered account. Globally, big social media firms that include Meta, Google's YouTube and TikTok are often under regulatory scrutiny over content posted on their platforms.

Persons: Anwar Ibrahim's, Meta, Miyoung Kim, Edwina Gibbs, William Mallard Organizations: Facebook, Malaysian Communications and Multimedia Commission, Malaysia's Communications, Multimedia, Malay Muslim, Meta, YouTube, Thomson Locations: KUALA LUMPUR, Malaysia, Malay, Vietnam, Indonesia

☆ Malaysia to take legal action against Meta, says harmful content not removed
▼ + stars: | 2023-06-23 | by ( A. Ananthalakshmi | ) www.reuters.com time to read: +1 min

KUALA LUMPUR, June 23 (Reuters) - Malaysian authorities said on Friday they will take legal action against Facebook parent company Meta Platforms (META.O) for failing to remove "undesirable" content on the social media platform. Facebook has recently seen a significant volume of undesirable content relating to race, royalty, religion, defamation, impersonation, online gambling and scam advertisements, the Malaysian Communications and Multimedia Commission said in a statement. It also said Meta had failed to take sufficient action despite its repeated requests and that legal action was necessary to promote "accountability for cybersecurity" and for "enhancing consumer protection". The commission also did not immediately respond to a request for comment on what legal action might be taken. Big social media firms such as Meta, Google's YouTube and TikTok are often under regulatory scrutiny over content posted on their platforms.

Persons: Meta, Kim, Edwina Gibbs Organizations: Facebook, Meta, Malaysian Communications and Multimedia Commission, YouTube, Thomson Locations: KUALA LUMPUR, Vietnam, Indonesia

India's top solar power producing state Rajasthan has been getting "early warnings" of technical challenges that could arise as the use of renewables increases, a federal power ministry official said. "If proper tariff structures incentivising flexible thermal generation are not introduced, it could result in slower renewable energy adoption," he said. Reuters GraphicsSOLAR, PLUS COALGreen energy capacity in Asia grew 12% in 2022, the fastest rate among major regions, according to the International Renewable Energy Agency. However, authorities in India's sun-drenched Rajasthan state are finding it increasingly difficult to control voltage fluctuations due to the inconsistent nature of solar power output. "Many of these renewable plants are not actually able to comply with such requirements," the official said.

Persons: Rystad, Wood Mackenzie, Lauri Myllyvirta, Pablo Hevia, Koch, Hevia, Florence Tan, Yuka Obayashi, Andrew Hayley, Fransiska, Gopal Sharma, Mei Mei Chu, Joyce Lee, Tony Munroe, Jamie Freed Organizations: Engie, Centre for Research, Clean Energy, Air, Reuters, International Renewable Energy Agency, International Energy Agency, Thomson Locations: China, India, Asia, Wood Mackenzie SINGAPORE, Rajasthan, Pacific, Malaysia, Pakistan, Bangladesh, Vietnam, Singapore, Tokyo, Bangkok, Beijing, Jakarta, Khanh Vu, Hanoi, Kathmandu, Kuala Lumpur, Seoul

☆ Thais host Myanmar junta official for talks; key ASEAN members stay away
▼ + stars: | 2023-06-19 | by ( ) www.reuters.com time to read: +4 min

Myanmar's junta-appointed foreign minister, Than Swe, is due to join the talks, two sources with knowledge of the meeting told Reuters. But some ASEAN members have declined to attend and others are only sending junior officials. ASEAN FRUSTRATIONThe military took over in Myanmar in 1962, isolating it for decades until a tentative opening up began in 2011. Malaysia's foreign minister has also declined to attend the Thai talks, saying it remained supportive of the efforts being undertaken by Indonesia. Cambodia on Monday said Foreign Minister Prak Sokhonn, who last year served as an ASEAN special envoy to Myanmar, would be represented by his deputy.

Persons: Aung, Athit, Don Pramudwinai, Don, Retno Marsudi, Suu Kyi, Prak Sokhonn, Panu, Ananda, Kanupriya Kapoor, Kay Johnson, Robert Birsel Organizations: Protesters, Embassy, REUTERS, Monday, Association of Southeast Nations, ASEAN, Myanmar's, Reuters, Thai PBS, Indonesian, Peace, Myanmar, ASEAN Chair, Malaysian, Cambodian, Thomson Locations: Myanmar, Bangkok, Thailand, BANGKOK, ASEAN, Indonesia, Suu, Cambodia, Ananda Teresia, Jakarta, Rozanna, Kuala Lumpur

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