[Analysis] Oil Security in Northeast Asia: Sino-Russian Drillers vs ExxonMobil

Oil and natural gas are undergoing an important crisis, as they are running out worldwide. In this context, powers like Russia and China have chosen to detach from the reliance on Middle Eastern oil, and have been seeking to create their own regional independence to the point companies such as Gazprom and Sinopec have overtaken US and European former leaders like ExxonMobil and Shell. What does this imply for oil security in Northeast Asia? And how are these countries coping with sustainability and oil consumption?

A Battle for Supremacy, But At What Cost?

President Trump recently decided to suspend US fundings to the World Health Organization, accusing the body of mismanaging the current COVID-19 crisis and being too China-centric. While the rivalry between Beijing and Washington dates back to the 1970s, today, the tension between the two superpowers could lead to a catastrophic response to the virus.