Since the Russian invasion of Ukraine in February 2022, the European Union (EU) has pursued policies aimed at shifting its energy sources away from Russia. This has resulted in a decline in the bloc’s dependence on Russian energy. Meanwhile, Russia has focused on exporting oil and natural gas to regions outside the EU to maintain...
Exxon Mobil has agreed to pay $59.5 billion for rival Pioneer Natural Resources in a deal that will secure the energy giant’s status as the fracking leader in the all-important Permian Basin—a region that stretches across West Texas and New Mexico and produces nearly 40% of all U.S. oil and 15% of all U.S. natural gas. If the acquisition survives a...
The biggest oil producer in the United Arab Emirates is buying a stake in a natural gas field in Azerbaijan, marking the company’s first major international purchase of upstream hydrocarbon assets. Abu Dhabi National Oil Co. agreed to buy a 30% equity stake in the Absheron gas field in the Caspian Sea, the government-owned firm...
As geopolitical winds shift, the US and European governments turn a blind eye to Emirates’ money laundering problem. BERLIN — Germany, the U.S. and several other Western countries are pushing a global money-laundering watchdog to give the financial system in the United Arab Emirates a clean bill of health despite persistent indications that the country...