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
10 December 2024
Sector at economic and strategic crossroads, but clear path ahead for midstream additions
30 November 2024
Decades of turmoil have left Iraq’s vast energy potential underutilised, but renewed investment and strategic reforms are transforming it into a key player in the region
29 November 2024
The country's fifth and sixth oil and gas bid rounds have attracted a range of new players with gas as well as oil ambitions—and there’s a seismic shift in the contracting process
28 November 2024
Iraq is charting a new path for its indigenous resources and its youth, hoping to electrify the future with a mix of reforms and modernisation to fuel growth
