Jakarta, April 18 (IANS) Indonesia is exploring potential energy cooperation with Russia, including plans to develop oil refineries and storage facilities, the country’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, has said.The initiative forms part of the government’s broader efforts to strengthen national energy security and expand downstream capacity in the oil and gas sector.The proposed cooperation is expected to support Indonesia’s drive to boost domestic refining capacity a…
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Jakarta, April 18 (IANS) The International Monetary Fund (IMF) has called on the Philippines to adopt a more targeted fiscal response to its ongoing energy crisis, warning that limited budget buffers constrain the government’s ability to provide broad economic support, especially to the vulnerable sectors, local media reported on Saturday. According to local media reports on Saturday, Krishna Srinivasan, director of the IMF’s Asia and Pacific Department, said at a press conference recently that …
Ottawa, April 18 (IANS) Air Canada has announced it will suspend service on several routes to the United States due to soaring jet fuel costs. According to a statement from Canada’s largest carrier on Friday (local time), jet fuel prices have doubled since the start of the Iran conflict, rendering some routes and flights no longer economically feasible.The suspensions affect a mix of transborder and domestic services. Service from Montreal and Toronto to New York’s John F. Kennedy International …
Washington, April 18 (IANS) The United States Department of the Treasury has extended a waiver permitting the delivery and sale of sanctioned Russian oil already loaded onto vessels, pushing the deadline to May 16, according to a document released on its official website. The earlier 30-day waiver had expired on April 11.The renewed license, issued on Friday (local time), is part of the administration’s broader effort to stabilise global energy prices, which have surged amid the ongoing US-Israe…
Washington, March 21 (IANS) The United States moved against what it described as a sprawling financial network that channelled more than $100 million to Hezbollah, sanctioning individuals and companies operating across several countries.The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 16 individuals and entities linked to Hezbollah financier Alaa Hassan Hamieh, accusing him of overseeing a network of companies used to launder money and raise funds for the …