Africa sees $47 billion surge in oil and gas investment
In a significant boost to Africa’s energy sector, capital expenditure (capex) on oil and gas projects has reached an impressive $47 billion in 2024, marking a 23% increase compared to last year. This sharp rise highlights the growing interest of energy majors in Africa’s vast untapped resources and underscores the continent’s emergence as a global […]
China’s Independent Refiners Shift Focus Amid Iranian Supply Crunch
China’s independent refiners, known as “teapots,” are facing growing challenges in securing Iranian crude oil, prompting a significant shift in their sourcing strategies. Iranian oil, traditionally a cost-effective option for these refiners, has become increasingly scarce and expensive. This is largely due to the broadening of U.S. sanctions in October, targeting tankers involved in the […]
