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Latest EU sanctions largely toothless
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
Power of Siberia 2: Deal or no deal?
There is a good strategic case for China to sign a deal for gas supplies via the proposed Power of Siberia 2 pipeline, but Beijing’s concerns around over-dependence on a single supplier and desire to drive down the price make it relatively unlikely a contract will be finalised this year
An end to EU green illusions
EU industry and politicians are pushing back against the bloc’s green agenda. Meanwhile, Brussels’ transatlantic trade deal with Washington could consolidate US energy dominance
China creates two-tier oil dynamic
There is a bifurcation in the global oil market as China’s stockpiling contrasts with reduced inventories elsewhere
Trump’s Russia threat rings hollow
The reaction to proposed sanctions on Russian oil buyers has been muted, suggesting trader fatigue with Trump’s frequent bold and erratic threats
India ready for turbulent times
The country’s energy minister explains in an exclusive interview how the country is taking a pragmatic and far-sighted approach to energy security and why he has great confidence in its oil sector
New Zealand backs gas, but results take time
Government is sending out the right policy signals to support increased domestic gas development, but policy takes time to implement and even longer to yield results
China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
South Korea’s transition bottlenecks keep LNG in play
The country’s new government has grand plans for renewables, but the structural changes needed for these policies will take years to carry out
Letter from the Middle East: Iran-Israel war risks dire straits
A blockade of the Strait of Hormuz would have reverberations that would sound around the world
Chinese President Xi Jinping at the closing session of the National People's Congress in Beijing in March
China Politics
Shi Weijun
Shanghai
22 April 2024
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China’s corruption purge targets the energy sector

Beijing’s renewed targeting of NOC management could threaten investment

China is ramping up a new crackdown on corruption within its sprawling NOCs, which together produced 95% of the country’s oil and gas last year. But the sweeping probes risk spooking industry leaders and stifling activity at a time when Beijing is keeping up the pressure on its state-controlled firms to boost production to ensure energy security. Since January, at least a dozen current and former senior officials in CNPC, Sinopec and CNOOC have come under investigation by the Central Commission for Discipline Inspection (CCDI), the feared top anti-corruption watchdog of the Communist Party. The accelerating pace of detentions has put the Chinese oil and gas sector on notice for more turmoil

Also in this section
The great OPEC+ reset
7 August 2025
The quick, unified and decisive strategy to return all the barrels from the hefty tranche of cuts from the eight producers involved in voluntary curbs signals a shift and sets the tone for the path ahead
Latest EU sanctions largely toothless
7 August 2025
Without US backing, the EU’s newest sanctions package against Russia—though not painless—is unlikely to have a significant impact on the country’s oil and gas revenues or its broader economy
A third distillate disruption
6 August 2025
Diesel market disruptions have propelled crude prices above $100/bl twice in this century, and now oil teeters on the brink of another crude quality crisis
BP’s long stay in Russia
5 August 2025
After failed attempts to find a buyer for its stake in Russia’s largest oil producer, BP may be able to avoid the harsh treatment meted out to ExxonMobil and Shell when they exited—and could even restart operations if geopolitical conditions improve

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