The western oil companies are devoting much more of their capital budget toward investments in renewable energy. The national oil companies that are worst positioned really are often the smaller and middling sized ones in africa, asia, latin america. They tend to be poorly run, they are often very politi cized, and they often have relatively small reserves, or unattractive ones.
The airbase in Crimea lies in ruins. Ukraine hasn’t claimed credit, many suspect they carried out the daring attack more than 100 miles behind enemy lines. Our defence editor explains why the war has entered a new phase. Why state-owned firms, not oil supermajors, are the biggest impediment to a green-energy transition. And pondering the pleasures of barbecue.
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