SCO & BRICS latest news and insights
The price of liquefied natural gas (LNG) on European and American exchanges has reached its lowest level in months. The causes of the price decline are distinct. In Europe, the primary factor is industrial stagnation, which has led to a reduction in fuel consumption. In the United States, the market...
By Rhod Mackenzie
Russia is experiencing a surge in oil revenue. In May, budget revenues increased by almost 50%. The total volume of oil and gas revenues for the first four months of 2024 was approximately 4.16 trillion rubles. Experts cite three main reasons for the growth: an increase in world...
In a new development, the European Union has taken the step of imposing sanctions on Russian gas. However, the EU has not yet taken the more severe action of banning Russian liquefied natural gas (LNG). Instead, the EU has introduced a separate measure allowing the purchase of Russian LNG. What has...
In April 2024, China imported a total of 14.737 billion cubic metres (in the form of liquefied natural gas and through pipelines). This represents a 6.5% increase compared to the previous year, according to a report from the General Administration of Customs of the People’s Republic of China. This r...
British billionaire Jim Ratcliffe, founder and head of the petrochemical giant Ineos Group, has stated that the high cost of electricity and carbon have undermined the competitiveness of the European petrochemical industry, sending it into a state of decline.
In an interview with Bloomberg TV, Mr R...
By Rhod Mackenzie
Bloomberg economists estimate that Russia received almost 50% more from oil sales last spring than in May 2023. Oil-related taxes rose to 632.5 billion rubles ($7.1 billion). Total oil and gas revenues rose by 39% to 793.7 billion roubles in May. The calculations are based on da...
