Boasting an estimated 3.5 billion barrels of oil and producing an average of approximately 149,000 barrels per day (bpd) in 2023, South Sudan’s oil sector plays a vital role in the country’s economy. During the forecast period 2022-2027, South Sudan’s oil market is poised to grow at a compound annual rate of 1.5% – rising from 134,000 in 2021 to approximately 160,500 bpd by 2027.
Shafaq News/ Iraq’s oil ministry on Tuesday said investments in gas resources is a top priority for the government as it prepares for a new bidding round.
A new crisis is brewing in one of the world’s trade arteries, threatening to snarl supply chains and push up oil prices and broader inflation at a time of slowing economic growth.
China’s stellar economic growth for many years pushed the prices of the major commodities it needed ever higher, almost single-handedly creating and sustaining the commodities supercycle over those years.
China’s economic growth target for 2023 was officially “around 5%”, which meant that it was almost certainly going to be attained on paper, regardless of the reality behind the figures.
One obvious sector of concern – among many others that are less so – is the property sector, which accounts for around a third of China’s entire GDP and about 65 percent of total household assets.
Offshore Energies UK has responded to today’s King’s Speech. The speech led on economic growth and outlined the ‘Offshore Petroleum Licensing Bill’ to regularize licensing for the UK’s homegrown oil and gas industry, together with an ambition to attract renewable investment and reform grid connections across the nation.
Oil fell below US$80 a barrel for the first time in more than two months as fresh doubts on whether the Federal Reserve has finished tightening outweighed Saudi Arabia and Russia’s supply cuts.
Shafaq News / The U.S. Energy Information Administration confirmed today, Tuesday, that Iraq’s oil exports to the United States reached approximately 84 million barrels during the first eight months of 2023.
Fuel is a key ingredient required to power the economy, and therefore its level of consumption has a direct relationship with how strong an economy is