“The Indonesian government requests an acceleration of the project, which I understand, because Indonesia needs a lot of energy to feed its economic growth,” Takayuki Ueda, Chief Executive Officer of the Japanese oil and gas producer, said in an interview on the sidelines of the Energy Intelligence Forum in London. “We try our best, but it’s very challenging.”
The Chinese economy will also be key to oil market balances this year, as in any other year. Analysts are eager to see the direction of the economy in 2025 after the lackluster growth in 2024, when China barely hit its GDP growth target amid a series of hits and misses in key economic data points.