TYO:6366

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Market Chatter: Japan to Help Philippines Boost Oil Reserves as Hormuz Crisis Threatens Supply

Japanese Prime Minister Sanae Takaichi and Philippine President Ferdinand Marcos Jr. are expected to finalize an agreement for Japan to assist the Philippines in bolstering its oil reserves in an upcoming summit, Nikkei reported on Thursday.Beginning as early as June, specialists from international bodies and Japanese institutions, including the Ministry of Economy, Trade and Industry, alongside private firms like Chiyoda (TYO:6366) and major trading houses, will travel to the Philippines, the news daily said.Collaborating with the Philippine Department of Energy and the state-owned oil company, these experts plan to deliver a concrete strategy by late 2026, the publication said.Amid concerns over Middle Eastern crude access due to the closure of the Strait of Hormuz from the Iran war, and given the Philippines' 50-60 day reserve and over 90% reliance on Middle East imports, Japan, with over 200 days of reserves and five decades of experience, is being looked to by Asian nations for guidance on reserve systems and operations, the report said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Nikkei 225TYO:6366

Asia20d ago

Japanese Shares Pare Monday's Gains to Close in Red After Fresh Strikes by US in Iran

After a record-breaking session on Monday, Japanese shares saw weak trade on Tuesday to close in the red as fresh strikes by the US military in Iran dampened optimism over a possible peace deal.The Nikkei 225 closed down 162.10 points or 0.3% at 64,996.09.The US forces attacked missile launch sites and mine-laying vessels in southern Iran, calling them "self-defense" strikes.In response, a senior spokesperson for Iran's Armed Forces, Abolfazl Shekarchi, said any new aggression against Iran will be met with a "far more severe" response that extends beyond the region, news reports said.Amid the escalation of the conflict, investor sentiment was also high due to the rebound in global oil prices, as Brent crude rose back to $98 a barrel.On the domestic front, in a move aimed at easing market anxieties over the nation's finances, the Japanese government will fund its extra budget without increasing bond issuance on a calendar basis, Bloomberg News reported Tuesday, citing Prime Minister Sanae Takaichi.Another Bloomberg News report on Tuesday quoted finance ministry data to show that Japan slipped behind China to be the world's third-largest creditor nation in 2025, despite posting a record high in its overseas assets.Also, the Nikkei reported on Tuesday that Japan's small and midsize enterprises are struggling with severe shortages of materials like naphtha due to the prolonged conflict in Iran, revealing a growing strain on their operations.On the corporate side, Mitsubishi Electric (TYO:6503) and Chiba Institute of Technology have entered into a three-year agreement to collaborate on the development of native physical AI technologies.Japanese engineering firm Chiyoda's (TYO:6366) was up nearly 4% on Tuesday after it was set to restart work on a liquefied natural gas facility in Qatar, a joint project with France's Technip Energies, Nikkei Asia reported Tuesday.

Nikkei 225TYO:6366TYO:6503

Asia20d ago

Market Chatter: Chiyoda to Resume Qatar LNG Plant Construction After Iran Conflict Evacuation

Japanese engineering firm Chiyoda (TYO:6366) is set to restart work on a liquefied natural gas facility in Qatar, a joint project with France's Technip Energies, Nikkei Asia reported Tuesday.All evacuated personnel are expected to return to the North Field East development site as early as this month, the report said.Local staff and their families were evacuated by March 16 due to escalating Middle East tensions linked to the U.S.-Israeli war in Iran, following an Iranian missile attack on Ras Laffan on March 18, Nikkei said.The North Field East project will produce 32 million metric tons of LNG annually, about half of Japan's yearly imports, for buyers including Italy, Germany, and China, with initial shipments planned for 2026 and completion set for 2027, the report added.Chiyoda's shares rose more than 2% in recent trade.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

TYO:6366