Latest news with #InternationalEnergyForum
Zawya
5 days ago
- Business
- Zawya
International Energy Forum (IEF) Secretary General Joins African Energy Week (AEW) 2025 Amid Forecasts Global Energy Growth
Jassim Alshirawi, Secretary General of intergovernmental organization the International Energy Forum (IEF), has joined the African Energy Week (AEW): Invest in African Energies conference as a speaker. As the world's largest gathering of energy ministers, the IEF accounts for more than 90% of global oil and gas supply, and as such, Alshirawi is well-positioned to lead discussions around Africa's oil market, including trends, opportunities and challenges. Representing the global home of energy dialogue, the IEF focuses on energy security, data transparency and energy transition, uniting global energy ministers and stakeholders to advance global supply chains. Founded more than 30 years ago, the organization facilitates discussions between producing and consuming countries, offering a neutral and inclusive platform to address supply chain challenges. Alshirawi's participation at AEW: Invest in African Energies 2025 – Africa's largest energy event – is expected to further strengthen these discussions as Africa's role in global energy markets increasingly grows. AEW: Invest in African Energies is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit for more information about this exciting event. Alshirawi's participation comes as Africa moves to promote Africa-centric energy policies, ones that center around the continent's need to scale-up energy capacity while advancing a just energy transition. Given that over 600 million people currently lack access to electricity across the continent while 900 million people lack access to clean cooking solutions, many countries are advocating for a differentiated approach to the energy transition in Africa, one that prioritizes the development of low-carbon oil and gas. Organizations such as the IEF are uniquely positioned to facilitate energy dialogue, thereby enhancing a better understanding of Africa's energy dynamics. Beyond energy dialogue, the IEF provides a series of reports and data analysis, with insights supporting investments and decision-making by leading operators and financiers. In the IEF's latest Comparative Analysis of Monthly Reports on the Oil Market, the organization offers a comparison of forecasted market trends by major organizations such as OPEC and the International Energy Agency (IEA). In its comparison, the IEF outlines that OPEC predictions show global oil demand rising 1.3 million barrels per day (bpd) in 2025, driven predominantly by increased consumption of transportation fuels. The 2026 forecast will see demand rise by a further 1.3 million bpd, sustained by rising demand for mobility and petrochemicals feedstocks. At the same time, the IEA projects global oil demand to rise by 0.7 million bpd in 2025 and 720,000 bpd in 2026. These discrepancies underscore the need to connect under one platform, with AEW: Invest in African Energies 2025 emerging as a strategic forum in this regard. AEW: Invest in African Energies unites stakeholders from the global and African energy landscapes to discuss strategies for accelerating investment and development in pursuit of enhanced energy security. As a continent rich with a variety of natural resources and offering significant untapped opportunities, Africa is well-positioned to play a more central role in global supply chains. Established markets such as Angola, Nigeria, the Republic of Congo and Libya are rapidly increasing oil and gas production, targeting new exploration frontiers and incremental production projects. Concurrently, emerging markets such as Namibia, Uganda, Ivory Coast, South Africa and Zimbabwe are all driving frontier exploration, with the aim of establishing themselves as future producers. In tandem with advancements in clean energy developments – from large-scale green hydrogen to integrated solar and wind – Africa offers significant opportunities across its entire energy sector and value chain. Stepping into this picture, Alshirawi's participation at AEW: Invest in African Energies 2025 will strengthen Africa-global dialogue. His participation will not only seek to address challenges and opportunities across the global energy market but foster discussions around Africa's unique strategy to scale-up energy and advance its transition. 'As Africa's energy sector experiences rapid growth, a unique opportunity has emerged for operators, financiers and technology providers to capitalize on global demand and position the continent as a major supplier. Insights shared by the IEF have long-played an important part in de-risking investments in Africa and will continue supporting developments as companies unlock the full potential of the continent's energy resources,' states NJ Ayuk, Executive Chairman, African Energy Chamber. Distributed by APO Group on behalf of African Energy Chamber.
Arab News
23-06-2025
- Business
- Arab News
Saudi crude output inches up to 9m bpd: JODI
RIYADH: Saudi Arabia pumped 9 million barrels per day of crude in April, a 0.54 percent month-on-month increase, according to the latest data from the Joint Organizations Data Initiative. The same dataset showed that crude exports rose to 6.17 million bpd, up 7.16 percent from March. Direct domestic use of crude for power and industry slipped to 377,000 bpd, a decline of 1.6 percent versus the previous month and 6 percent below the April 2024 tally. Demand from local refineries also eased. Crude intake fell 17.22 percent to 1.84 million bpd. JODI, a platform overseen by the International Energy Forum, compiles monthly oil statistics supplied voluntarily by national governments. The Kingdom's figures are published with a roughly two-month lag, providing one of the few publicly available windows into Saudi production, exports, and domestic consumption patterns. 6.17 mb/d: Saudi Arabia's crude exports rose by 412 kb/d.#JODIData #JODIOil #OOTThttps:// — JODI (@JODI_Data) June 23, 2025 For much of the period between 2020 and 2024, the wider OPEC+ alliance had been restraining supplies to shore up prices, beginning with the record 9.7 million-bpd collective cut agreed in April 2020 at the height of the pandemic and tapering only gradually through April 2022. Additional curbs followed, with the group instituting a 2 million bpd reduction in October 2022 and layered on a series of voluntary cuts totaling 1.6 to 2.2 million bpd from May 2023, moves that remained in force into early 2025. In a shift of strategy, OPEC+ members agreed in early May to bring back barrels in stages, scheduling incremental increases for May, June, and July and signaling room for a further 2.2 million bpd to return by November if market conditions allow. A separate market context came from the June Monthly Oil Market Report issued by OPEC on June 16, in which the producer group said the global economy 'has outperformed expectations' in the first half of 2025 and should remain resilient in the second half. JODI #gas update by the numbers: 56 countries updated the database with the most recent April 2025 data. — JODI (@JODI_Data) June 23, 2025 OPEC kept its forecasts for oil demand growth in 2025 and 2026 unchanged but trimmed its projection for non-OPEC+ supply growth in 2026 to 730,000 bpd, 70,000 bpd lower than the previous month, citing plateauing US shale output. Geopolitical risk also featured prominently in late-June trading. Iran's parliament approved a bill to shut the Strait of Hormuz, the 33-km wide passageway that carries close to one-fifth of the world's crude exports. Tanker-tracking data compiled by Reuters shows supertankers making U-turns, idling near the Gulf, or zigzagging to avoid the choke point as companies rush to limit their exposure. In response, freight rates for the largest vessels more than doubled, and Brent crude hit a five-month high. A full closure — still subject to sign-off by Iran's higher supervisory bodies — would force Gulf exporters to divert cargoes around Africa or rely on overland pipelines, moves that analysts say could squeeze near-term supply and push oil prices sharply higher. The Strait routinely handles about 20 percent of globally traded oil, underlining why even the threat of disruption can jolt energy markets.
