China’s COVID reopening set to push 2023 oil demand to new high: IEA

REUTERS – The lifting of COVID-19 restrictions in China is set to boost global oil demand this year to a new record high, the International Energy Agency said, while price cap sanctions on Russia could dent supply.

“Two wild cards dominate the 2023 oil market outlook: Russia and China,” the energy watchdog said in its monthly oil report.

 

Oman LNG signs deals with TotalEnergies, Thailand’s PTT

 

REUTERS – Oman LNG has agreed to supply up to 1.6 million metric tonnes of liquefied natural gas to France’s TotalEnergies and Thai state-owned firm PTT, the Omani state news agency reported on Wednesday.

TotalEnergies and PTT will each receive 800,000 tonnes of LNG per year, with the French firm commencing a 10-year deal in 2025 and the Thai company taking supply for nine years beginning in 2026, the news agency said.

 

Argentina to buy back $1b in foreign debt in signal to markets

 

REUTERS – Argentina will buy back overseas bonds equivalent to over $1b to improve the South American country’s debt profile, economy minister Sergio Massa said on Wednesday, looking to send a positive signal to markets despite low reserves levels.

The move will focus on sovereign notes maturing in 2029 and 2030, the minister added, with the program set to start immediately as the country looks to take advantage of a “window of opportunity” after a debt risk index recently fell.