Venturing Out

Competition to supply the energy-hungry countries of East Asia is definitely heating up. In a market that is traditionally dominated by the Gulf Cooperation Council (GCC) countries—Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE— Russia has recently entered the fray, and Iran, as well as Iraq are keen to make up for lost time from sanctions and supply disruptions, respectively. The United States is also eyeing the market as it prepares to lift its self-imposed, 40-year long export ban. Can GCC countries wield the complex tapestry of commercial and geo-strategic relationships to their advantage?

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