Latest news with #MutoYoji
The Herald
9 hours ago
- Business
- The Herald
Mozambique minister optimistic about TotalEnergies resuming LNG project
Mozambique's energy minister said on Friday the government has not received a request from TotalEnergies to lift a force majeure declaration on its $20bn (R360.71bn) liquefied natural gas (LNG) project there, but he is optimistic about the oil major's plan to resume its development this summer. The force majeure will be lifted as soon as the project's operator determines conditions are in place to resume operations, minister of mineral resources and energy Estevao Pale told reporters in Tokyo after meeting with Japan's industry minister Muto Yoji. "We, as government, are doing everything that we can to be able to resume the project," Pale said. "We are working together with all partners on the project to create the security conditions favourable to restart the project," he said, adding that security conditions have improved considerably.
TimesLIVE
13 hours ago
- Business
- TimesLIVE
Mozambique minister optimistic about TotalEnergies resuming LNG project
Mozambique's energy minister said on Friday the government has not received a request from TotalEnergies to lift a force majeure declaration on its $20bn (R360.71bn) liquefied natural gas (LNG) project there, but he is optimistic about the oil major's plan to resume its development this summer. The force majeure will be lifted as soon as the project's operator determines conditions are in place to resume operations, minister of mineral resources and energy Estevao Pale told reporters in Tokyo after meeting with Japan's industry minister Muto Yoji. "We, as government, are doing everything that we can to be able to resume the project," Pale said. "We are working together with all partners on the project to create the security conditions favourable to restart the project," he said, adding that security conditions have improved considerably.
NHK
17 hours ago
- Business
- NHK
Japan plans fuel subsidies amid Israel-Iran oil supply threat
Japan's government says it will introduce fuel subsidies to counter possible spikes in prices, should the fighting between Israel and Iran disrupt crude oil supply. The government says it will subsidize oil wholesalers to keep the pump price of regular gasoline around 175 yen, or 1.2 dollars, a liter, even if crude prices jump. It will provide the same level of subsidy for light oil. The support for kerosene and heavy oil will be roughly half of the gasoline subsidy, while aviation fuel will be about 40 percent. The government says the program will kick in on June 26 and last for some two months. It will be funded from the existing budget. The support comes on top of a fixed subsidy to oil wholesalers already in place. That program began last month to stem rising gasoline prices and the subsidy has gradually increased to 10 yen per liter. Japan's Industry Minister Muto Yoji stressed the subsidies will be temporary. "Considering decarbonization efforts, this support program for fuel is not something that can continue indefinitely," he said. Muto said the subsidies are to help support the daily lives of citizens through July and August, when gasoline demand typically increases.
NHK
13-05-2025
- Business
- NHK
Financial markets cheer US-China tariff cuts
Financial markets are welcoming the announcement of a US-China deal that reduces fears of a full-scale trade war. The world's two biggest economies say they will significantly cut each other's additional tariffs and suspend some of them for a fixed period while continuing trade talks. The agreement sparked a surge of buying on Japan's stock market. The benchmark Nikkei 225 closed on Tuesday at 38,183, up 1.4 percent, extending its winning streak for four trading days. The gains in Tokyo follow a sharp rebound in New York equities on Monday, with the major indexes all gaining. The Dow Jones Industrial Average surged by 2.8 percent from Friday's close. Investors also bought the dollar. The US currency briefly climbed to the mid-148 level against the Japanese yen, the highest in about one month. Officials in Japan's government are now said to be analyzing the Washington-Beijing deal as they prepare for their own third round of tariff talks with the US. Japanese Trade Minister Muto Yoji says the government will closely monitor developments. Muto says: "I'd like to refrain from making a prejudgment on how the situation of other countries' talks will affect the negotiations between Japan and the US. The government will make the utmost effort to reach an early agreement while protecting Japan's national interests." Meanwhile, some Japanese officials take the view that Washington may be shifting its tariff strategy amid concern it may slow the US economy.
NHK
13-05-2025
- Business
- NHK
Financial markets cheer US-China tariff reprieve
Financial markets are welcoming the announcement of a US and China deal that reduced fears of a full-blown trade war. The world's two biggest economies say they will cut some import tariffs for a fixed period and continue trade talks. The agreement sparked a surge of buying on global stock markets, including in Japan. The benchmark Nikkei 225 briefly rose more than 800 points or about 2 percent on Tuesday morning. The gains in Tokyo follow a sharp rebound in New York equities on Monday, with the major stock indexes all gaining. The Dow Jones Industrial Average surged 1,160 points, or 2.8 percent, from Friday's close, ending the day at 42,410. Technology-related shares led the surge to lift the Nasdaq by more than 4 percent. The Dow last traded above the 42,000 mark on April 2nd, or before US President Donald Trump announced what he calls reciprocal tariffs on global trading partners. Investors also bought the dollar. The US currency climbed to the mid-148 level against the Japanese yen at one point, or the highest in about one month. Japan prepares for trade, tariff talks with US Officials in Japan's government are now said to be analyzing the Washington-Beijing deal as they prepare for their own third-round of tariff talks with the US. Japanese Trade Minister Muto Yoji says the government will closely monitor developments. "I'd like to refrain from making a prejudgment on how the situation of other countries' talks will affect the negotiations between Japan and the US," he said in a news conference. "The government will make the utmost effort to reach an early agreement while protecting Japan's national interests." Meanwhile, some Japanese officials take the view that Washington may be shifting its tariff strategy amid concern it may slow the US economy.
