Saudi Aramco had an objective to expand its presence worldwide by including the three major global energy markets of Asia, Europe, and North America. In April 2019, Aramco signed a deal to acquire 13% stake in South Korean oil refiner Hyundai Oilbank for $1.24 billion.Similarly Aramco had in the same month had in the same month signed an agreement with Poland’s leading oil refiner PKN Orlen to supply it with Arabian Crude Oil. And for the future ,Aramco is planning to be a major producer of liquefied natural gas (LNG) in the world. It sold its first cargo of LNG from Singapore to an Indian buyer. The company is looking globally for potential joint ventures and partnerships to achieve its goal regarding the LNG market.
Considering the recent COVID-19 Impact of global energy prices, experts say that the chief concern is that much of the rebound in demand depends on China and India. However, a more optimistic demand scenarios hinges on whether the Indian and Chinese economies will further implement gas-friendly policies, or whether they backslide and favor coal.
Nigeria has over the years been mostly importing the bulk of its domestic LPG consumption. Growth of domestic consumption have been led mainly by states in the south of the country. The rise in local demand has not be proportionate with population share across the country.