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In pipelines we trust
The addition of an oil pipeline to the Power of Siberia 2 gas project could ensure deliveries of Russian oil to China, materially shorten logistics lines between West Siberia and final customers, and—amid disruption in the Strait of Hormuz—offer a land-based export route that reduces exposure to maritime chokepoints
Drone power: Ukraine escalates its war on Russian oil
Sustained strikes on ports, terminals and refineries are testing the resilience of Russia’s oil export system, yet rapid repairs, rerouting and surging prices mean the campaign has yet to deliver a decisive blow
China’s secure energy transition
Alongside a rapid continued build-out of renewables, China’s latest five-year plan stresses the value of domestic hydrocarbon production for energy security and calls for increased Russian gas imports
How Russia gains from the Hormuz supply shock
The US may be systemically stripping Russia of key geopolitical allies, but Moscow can reap rewards from the Hormuz crisis, both in the short and long term
Letter from Asia: The nuanced India-Russia oil picture
The South Asian consumer’s next move could tighten the Middle East oil market overnight
China’s new oil position
OPEC, upstream investors and refiners all face strategic shifts now the Asian behemoth is no longer the main engine of global oil demand growth
Explainer: Inside China’s crude oil stockpiling black box
Energy security continues to evolve as a strategic priority amid growing geopolitical tensions highlighted by increased volumes, a new energy law and persistent secrecy
Arctic LNG 2 adds Arc7 to its shadow fleet
Having found a steady buyer in China for its sanctioned gas, the Russian project is positioned for nearly year-round operations, yet its 11-vessel ‘shadow fleet’ is still insufficient to achieve anywhere near capacity utilisation.
Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Letter from London: Oil’s golden triangle
The interplay between OPEC+, China and the US will define oil markets throughout 2026
China and Russia could be set to remain strategically interdependent
Russia China Sanctions
Kaho Yu
29 March 2022
Follow @PetroleumEcon
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Russia and China in it for the long term

The relationship is likely to weather any temporary turbulence, even as it becomes ever more structurally unbalanced

Beijing has been consistent in its economic support for Moscow, even while the war in Ukraine has tested the strength of the China-Russia partnership. And China’s support, albeit hugely restrained in public—alongside escalating tensions with the West and crippling economic sanctions—is speeding up Russia's ‘pivot to the east’, despite there being potentially only one major winner (which is not the Putin administration) in the strategy. A handful of Chinese banks with overseas operations are reportedly following US sanctions and restricting financing for Russian commodities. But this will likely have a limited impact on Beijing’s overall geopolitical willingness to help Moscow counter Western

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Letter from the US: This crisis Is different
Opinion
28 April 2026
Oil traders warning of $200/bl oil are wrong, and the market should be wary of proclamations that the impact of the oil shortage has only begun to be felt and a that a ‘harsh adjustment’ is coming—even for industrialised nations
Middle East oil’s multi-step recovery plan
28 April 2026
Restoring supply from Saudi Arabia, the UAE, Kuwait, Qatar, Bahrain and Iraq involves complexities far beyond simply adjusting operational controls
Decoding datacentre energy demand
28 April 2026
Datacentres will guzzle power at a ferocious rate, but the impact on wider energy markets will be far more complex than previously thought
Iraq’s pipeline dilemma
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security

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