Nov. 20 (Bloomberg) — Crude oil fell for a fifth day, approaching $50 a barrel, as the contracting world economy increases concerns that demand for fuels will slow.
U.S. fuel use during the past four weeks averaged 19.1 million barrels a day, down 7 percent from a year ago, an Energy Department report said yesterday. Equities [...]

NEW YORK (MarketWatch) - Crude-oil prices could fall to $40 per barrel by April as demand falls and production becomes more cost-effective, Deutsche Bank said in a report released Wednesday. Prices will fall on “a huge overhang of new, more efficient refining capacity addition into an already-oversupplied market,” the investment bank said. The Organization of [...]

BEIJING (Reuters) - China will impose a long-awaited fuel tax “very soon,” the head of National Development and Reform Commission’s (NDRC) Energy Research Institute said in comments reported on Tuesday by the China Daily.
“The announcement will come very soon, and actually specific plans have already been suggested to the government long ago,” Han Wenke, director [...]

Kota Kinabalu: Parti Keadilan Rakyat (PKR) Vice President Datuk Dr Jeffrey Kitingan has called for an independent oil and gas consultant to find out whether Sabah’s gas deposits are really the least in the nation.
Describing the statement about Sabah’s natural resources by Petronas President Tan Sri Hassan Marican as “highly questionable”, [...]

By Shannon Teoh
KUALA LUMPUR, Nov 18 — Domestic Trade and Consumer Affairs Minister Datuk Shahrir Samad revealed today the government has stopped subsidising petrol since Nov 1 and has been effectively collecting taxes instead on petrol consumption.
Speaking to reporters in Parliament, he explained that even after the 15-sen drop today, which saw RON97 petrol dropping [...]

KUALA LUMPUR: Malaysian state oil firm Petronas will invest 700 million ringgit ($194.8 million) in energy projects in Uzbekistan within the next three years, a Malaysian newspaper reported on Sunday.

Malaysian Prime Minister Abdullah Ahmad Badawi will announce the investment during a three-day working visit to the gas-rich Central Asian state beginning Sunday, the New [...]

KUALA LUMPUR : Malaysia on Monday cut petrol prices by 7 per cent, bringing pump prices down to 2.00 ringgit (0.56 dollars) per litre as global crude prices continued to ease.
Deputy premier Najib Razak said the 15 sen cut would be effective Tuesday with diesel also reduced by 15 sen to 1.90 ringgit per litre.
“This [...]