US-China rivalry intensifies
Diplomatic ties may improve under Biden, but both governments will compete to lead the green energy revolution
In early 2020, Chinese decision-makers were preparing to wrap up the 13th five-year economic plan and draft the next one. Beijing had hoped to finalise a number of domestic development goals and thought that the pending ‘phase one’ trade agreement with the US—expected to see China purchase an additional $52.4bn of energy exports—would give the government the diplomatic breathing space to focus on its domestic agenda. China had little pressure to issue ambitious new pledges. But 2020 did not pan out as expected. Efforts to control the spread of Covid-19 took a toll on China’s economy, leading to the first contraction in Chinese GDP for over three decades. The country’s external environment s
Also in this section
1 August 2025
A number of companies have filed arbitration claims against Gazprom over non-deliveries of contracted gas or other matters—and won. The next step is to collect the award; this is no easy task but it can be done thanks to an international legal framework under the New York Convention.
1 August 2025
Europe’s refining sector is desperately trying to adapt to a shifting global energy landscape and nowhere is this more apparent than in its largest economy
1 August 2025
The Middle East natural gas playbook is being rewritten. The fuel source offers the region a pathway to a cleaner, sustainable and affordable means of local power, to fasttrack economic development and as a lucrative opportunity to better monetise its energy resources.
31 July 2025
TotalEnergies is an outlier among other majors for remaining committed to low-carbon investments while continuing to replenish and expand its ample oil and gas portfolio, with an appetite for high risk/high return projects.
