Russia is welcome in the Middle East—up to a point
Arabs encourage Russia's economic advances but are wary of political ones
When Rosneft's chief executive Igor Sechin announced in December 2016 that the Russian firm was taking a 30% share in Egypt's giant offshore Zohr gasfield, Eni had cause to celebrate. For it had further spread the risk associated with developing it, having earlier sold a 10% stake to BP. But Eni's satisfaction was very likely nothing compared to that expressed by President Abdel Fattah el-Sisi when he hosted Sechin at his palace in Cairo. To have a Russian firm involved prominently in a prestige project like Zohr fits with Sisi's strategy of diluting his country's economic dependence on the US and other Western nations. It's a strategy that most Arab governments are adopting. Iraq has welcom
Also in this section
18 April 2024
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
17 April 2024
Uzbekistan and Kazakhstan provide opportunities after Europe turns it back, while also offering another gateway to China
16 April 2024
Commentators need to shake off the myths of the past, with rising oil prices a boon for US economy
15 April 2024
Though hampered by methane concerns, US LNG has a crucial role to play for European and Asian energy security, US economic needs and the energy transition drive