Last week saw China officially announce its economic growth target for 2024 of “around 5 percent”.
There are signs that China’s trade globally is beginning to markedly trend up again.
Fiscal expansion and increased trade is likely to feature increased demand for oil from China, as opposed to the type of growth that has dominated 2023
Kazakhstan aims to boost its oil exports through the trans-Caspian corridor and to Germany via the Druzhba pipeline, despite potential complications with Russian transit approvals.
The country experienced a 10% increase in oil exports in 2023, reaching over 70 million tons, but saw a 10% drop in revenue due to declining oil prices.
Concerns arise over the Caspian Pipeline Consortium as a Turkish terminal refuses oil deliveries to avoid US sanctions, highlighting the geopolitical complexities affecting Kazakhstan’s export strategies.
The Independent Petroleum Producers Group (IPPG) wholeheartedly endorses the recent Executive Orders signed by President Bola Ahmed Tinubu, aimed at revitalising investment in Nigeria’s oil and gas sector and positioning the nation as Africa’s premier investment destination within the energy sector.
Liberty Petroleum, has gained entry into one of Africa’s last undrilled frontier offshore petroleum zones by signing three production sharing agreements (PSAs)
Perenco UK, a subsidiary of Perenco Group, has brought on stream a near-field discovery within the Ravenspurn South area of the Southern North Sea, boosting its gas production on the UK Continental Shelf (UKCS).
Aramco’s 2023 profit, down from a record $161.1bn in 2022, was constrained by lower oil prices, a fall in production and weaker refining margins. But it was still the second-highest ever, Aramco said today.
The evaluation of a field development plan (FDP) submitted by Tullow Oil for the Turkana oil fields has been extended to June.
TotalEnergies SE has signed a deal to acquire operatorship of Block 3B/4B, a license adjacent to its operated DWOB block on the South African side of the Orange Basin
Oil prices closed 1% lower on Friday and fell even more for the week as markets remained wary of soft Chinese demand even as producer group OPEC+ extended supply cuts.
The sales commission for three prominent oil companies—Jamuna Oil Limited, Meghna Petroleum Limited, and Padma Oil Limited—operating under the Bangladesh Petroleum Corporation (BPC) has been raised.