Higher global economic growth and solid activity in China will see robust world oil demand growth of 1.8 million barrels per day (bpd) in 2025, OPEC said on Wednesday in its first outlook into next year’s demand levels.
The country is expected to fork out approximately US$83.4million by March 31, 2024 as its initial subscription capital to the recently proposed Africa Energy Bank (AEB), which it is seeking to host.
Welcome to “Feet to the Fire: Big Oil and the Climate Crisis,” a biweekly newsletter in which we share our latest reporting on how the fossil fuel industry is driving climate change and influencing climate policy in five of the nation’s most important oil- and gas-producing states. In addition, we shine a spotlight on the financing of the fossil fuel industry, holding banks and other financial institutions accountable for their role and providing you with updates on their activities.
JX Nippon Oil & Gas Exploration is a Japanese company operating in the oil and gas industry, seeking and developing new energy resource deposits worldwide. With over 50 years of experience, the company has established itself as a major player in this highly competitive sector.
A cold snap in the U.S. and continued attacks on ships in the Red Sea have boosted bullish sentiment in oil markets, although increasing product stocks could counter that narrative.
Environmental policy expert says fossil fuels have been net benefit for society
Tullow Ghana led the pack at the maiden Chartered Institute of Supply Chain Management (CISCM) Awards held over the weekend in Accra.
This was made known on Monday via the commission’s X platform, explaining that the decision was made to improve dependability and sustainability to meet the country’s fuel supply and energy security requirements.
US President Joe Biden and the World Bank are worried global oil prices could surge even higher if conflict in the Middle East escalates, as the Israel-Gaza war continues and as US and UK attacks on the Iran-backed Houthis in Yemen attempt to blunt their ability to target commercial shipping in the Red Sea.
Shipping disruptions across the Red Sea threaten global trade after major shippers, such as Maersk and others, have rerouted vessels.
As of Monday, QatarEnergy, one of the world’s largest LNG exporters has stopped shipping cargoes through the Red Sea.
Possible delays or disruptions of LNG shipments from Qatar are not a concern to European traders yet.