The IEA has reduced its 2024 oil demand forecast by 7.2%, citing China’s economic slowdown and the global shift towards cleaner energy sources. Â
In the News
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Brent crude falls below $70, adding pressure on Nigeria’s economy and currency while raising hopes for lower petrol prices.
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OPEC reduces its global oil demand growth forecast for 2024, with weaker demand from China and the adoption of cleaner fuels affecting market outlook.
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Italy is considering lifting its nuclear energy ban, with plans to draft new legislation by 2025, potentially transforming its energy landscape. Â
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China’s transition to greener fuels and a sluggish economy have led to slower oil demand growth, according to experts at the APPEC conference. Â
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NNPC and Chevron have signed a deal to convert five JV assets to Petroleum Industry Act terms, aiming to boost oil production to 165,000 barrels per day by 2024.
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MIGA and ISA have launched a new solar fund to expand renewable energy in sub-Saharan Africa, aiming to connect 300 million people to electricity by 2030
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Saudi Aramco, Trafigura, and other major oil players are competing to buy Shell’s South African gas stations as the company reshapes its downstream portfolio
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The Women in Greentech Roundtable at Atlantis Special Economic Zone showcased the critical role of women in sustainable development and the Just Energy Transition.
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Shell and other energy giants are taking legal action against Venture Global LNG for failing to fulfill key long-term contracts, warning of a potential industry-wide crisis