Southeast Asia faces diverse energy challenges : Morgan Stanley

peakoil.com -> news.yahoo.com, sunstar.com.ph :

Southeast Asian economies are facing diverse challenges in coping with high oil prices, among them removing costly fuel subsidies and attracting investments into the energy sector, US investment bank Morgan Stanley said in a report. Regional economies must also improve energy efficiency and cut a heavy dependence on imported oil.

Malaysia appears best placed to benefit from rising oil prices after consistently remaining a net oil exporter, but fuel subsidies are eating up gains. The country has improved energy efficiency and moved away from a heavy reliance on oil, while its investments in exploration and production activities have boosted oil exports.

The bank highlighted the need for Indonesia to substantially increase investments in oil exploration as current production is sourced mainly from its ageing fields, and warned that Indonesia runs the risk of becoming a permanent net oil importer.

Singapore's vulnerability to oil shocks is "exaggerated because oil bunkering trade is counted as domestic consumption and refined oil exports to Indonesia are not properly captured," the bank said. Singapore is a major global bunkering port - it sells fuel to ships on anchor here. Morgan Stanley said Singapore is an "efficient oil user", with oil consumption estimtated at 4-5.5% of GSP this year.

Post a Comment:

Comments are closed for this entry.

« Greenspan on Peak... | Main | Honda unveils next-g... »

Most popular blog postings on lowem.log :

1. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004
2. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
3. Singapore SIBOR rate falls to 1.31%, lowest since Nov 2004
4. Singapore SIBOR interest rates fall to 1.5%, lowest since Dec 2004
5. Live spot gold price quotes chart on COMEX
6. 2010 Honda Civic Hybrid preliminary specifications released
7. Fuel prices seen stoking Malaysia inflation in 2008
8. How to insert currency exchange rates into Google Spreadsheets

Featured articles on lowem.log :

1. ABC Guide to Beating Inflation in Singapore and Elsewhere
2. Singapore inflation rate hits new 26-year high of 7.5% in Apr 2008
3. Baltic Dry Index falls 93% as shipping rates plunge, signalling global economic collapse
4. 67000 China factories closed in H1 2008 as global economic collapse takes hold
5. 2010 Honda Civic Hybrid preliminary specifications released
6. Peakoiler buys 2008 Honda Civic Hybrid FD3
7. NYMEX crude oil recovers from $32.40 low after 2.2 mbpd OPEC production cut announced
8. Singapore SIBOR rate falls to 0.94% in Nov 2008, lowest since Jul 2004