Oil

China Buys into Niger Junta to Secure Oil Supply

China’s state-owned oil company CNPC, the China National Petroleum Corporation, has signed a $400 million deal with the military junta that controls Niger, providing a much-needed infusion of cash after the coup damaged relations with Niger’s previous big oil customers, the United States and France.

Workers from Niger and China are seen on the construction site of an oil pipeline in the r

Saudi Aramco Announces Second-Highest Profits on Record for 2023

Saudi Arabia’s national oil company, Aramco, on Sunday reported near-record profits of $121 billion in 2023. The eye-catching total might seem a bit surprising given media narratives that fossil fuels are on the way out, but Aramco found demand for oil stronger than ever, albeit distributed somewhat differently than in years past.

Prince Abdulaziz bin Salman, Saudi Arabia's energy minister, left, and Amin Nasser, c