Santos’ board says suitors refused to share risk on approvals and domestic gas as analysts call for a leadership change.

China’s macroeconomic outlook is growing gloomier at a time of major internal structural change, with key energy market implications. Trade tensions, its flagging property sector and slowing infrastructure investment are undermining China’s traditional economic foundations, while its low carbon technology prowess cannot cover these losses. These dynamics are weighing heavily on oil demand, as reduced freight demand, rising EV adoption and the slowing economy take their toll, with petrochemical feedstock usage unable to pick up the slack. Accordingly, we see Chinese oil demand growth barely topping 100,000 b/d this year and next. While natural gas demand prospects are brighter, they are not immune from these trends.

Moscow is taking steps to restore ties with Syria and rebuild its position in the Mideast at the first Russia-Arab summit.

Industry collaboration is essential to addressing the flaring challenge, argues Graham Henley, CEO of the International Association of Oil & Gas Producers.