LATEST GEÓPOLITICAL INTEL: GEÓ Insights – Keep Up To Date with the Latest Geopolitics

Expanding petrochemicals production and uncertainty about imports of U.S. ethane and propane amid the trade row are expected to boost Chinese purchases of another petrochemical feedstock, naphtha, to a record high this year, traders and analysts tell Reuters. Amid disrupted supply of cheap U.S. ethane and propane in the trade war, Chinese petrochemicals producers have boosted the use of naphtha in recent months, while uncertainties about the trade going forward are set to drive increased naphtha demand. “With issues in imports of ethane and…

MidOcean Energy, the LNG investment platform backed by Saudi Aramco, has emerged as the front-runner to acquire a significant minority stake in Petronas’s Canadian gas and LNG business, according to people familiar with the talks, cited by Bloomberg. The deal, now reportedly in late-stage negotiations, could value the assets between $6 and $7 billion, making it one of the largest LNG transactions of the year. Petronas’s Canadian unit includes extensive upstream operations in British Columbia and a 25% stake in the LNG Canada terminal,…

China’s consumer price index (CPI) rose just 0.2% year-on-year in July, undershooting expectations and raising concerns over weak domestic consumption. But for oil markets, the low print may be misleading. Refiners remain active. According to Reuters, China’s surplus crude inventories surged by 1.3 million barrels per day in June, the largest monthly build since 2020. Rather than signaling oversupply, analysts say it gives refiners room to boost throughput into the second half. Crude runs reached 15.15 million barrels per day in June,…

Morgan Stanley expects OECD oil inventories to rise by no more than 165 million barrels over the next 12 months, maintaining its Brent crude forecast at $65. The firm said the pace of accumulation is easing, with Asian demand holding steady and fewer strategic reserves being filled than earlier in the year. The view stands in contrast to broader market concerns over mounting global inventories following recent OPEC+ production increases. But analysts say most of the build has occurred outside OECD countries. The Edge Malaysia reported that only…

Amid heated debates about how quickly and at what cost the world could reach net-zero emissions during constant geopolitical shifts and market turbulence, several oil-producing nations are doubling down on oil and their role in global crude supply. From the Middle East to Africa, South America, and even Europe, these are seven large or aspiring producers who are looking to boost their production in the coming years, with some also working on raising their oil production capacities. The UAE The United Arab Emirates (UAE), one of OPEC’s top…