Battlefield China in Russo-Saudi tussle
Russia and Saudi Arabia have largely buried, rather than settled, their issues. China is a microcosm of the ongoing tension
Saudi Arabia may have, albeit at very painful cost, re-established itself as top dog in global energy geopolitics. But its naked rivalry with Russia is just on the backburner—as all producers try to deal with the fallout from Covid-19—rather than permanently put to bed. The two heavyweights’ informal market-share competition continues, and the competition in China is perhaps its best example. While Riyadh managed to sell a record 2.16mn bl/d to Beijing in May (an increase of 95pc year-on-year and 71pc month-on-month), beating Moscow to the title of top supplier to the world’s largest oil and gas importer, few believe the race is over. Russia typically relies on pipelines and fixed long-term
Also in this section
27 February 2026
LNG would serve as a backup supply source as domestic gas declines and the country’s energy system comes under stress during periods of low hydropower output and high energy demand
27 February 2026
The assumption that oil markets will re-route and work around sanctions is being tested, and it is the physical infrastructure that is acting as the constraint
27 February 2026
The 25th WPC Energy Congress to take place in tandem as part of a coordinated week of high-level ministerial, institutional and industry engagements
27 February 2026
The deepwater sector must be brave by fast-tracking projects and making progress to seize huge offshore opportunities and not become bogged down by capacity constraints and consolidation
