Gulf states frozen in the headlights
Beset by intra-GCC tension, Gulf states are dithering in the face of the Iran crisis
The fear engendered in Saudi Arabia by the September attacks on its oil facilities at Abqaiq and Khurais is shared by the other five members of the Gulf Cooperation Council (GCC): Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates (UAE). Vital installations within their own borders are now as potentially vulnerable as those in Saudi Arabia. But the GCC is not in sufficiently robust shape to face up to the threats collectively. The GCC, in its 1981 founding charter, made no reference to defence cooperation. But three years later, Gulf leaders approved the creation of a joint military unit, the Peninsula Shield Force. One of its duties is to respond to military aggression against a GCC
Also in this section
24 January 2025
Domestic companies in Nigeria and other African jurisdictions are buying assets from existing majors they view as more likely to deliver production upside under their stewardship
23 January 2025
The end of transit, though widely anticipated, leaves Europe paying a third more for gas than a year ago and greatly exposed to supply shocks
23 January 2025
The country’s government and E&P companies are leaving no stone unturned in their quest to increase domestic crude output as BP–ONGC tie-up leads the way
22 January 2025
The return of Donald Trump gives further evidence of ‘big oil’ as an investable asset, with the only question being whether anyone is really surprised