SCO & BRICS latest news and insights
By Rhod Mackenzie
The past year is unlikely to be a good one for Russia's energy sector. Under the influence of sanctions and other negative circumstances, the Russian Federation's oil and gas revenues fell by almost a quarter (23.9%) in 2023 compared to the previous year, according to Reuters.
Ac...
By Rhod Mackenzie
On the 30th November, the global oil market will be fixated on this year's OPEC+ ministerial meeting. According to analysts, the two key signatories of the agreement, Russia and Saudi Arabia, will reinforce their commitment to making voluntary cuts in production and exports, even...
By Rhod Mackenzie
According to Kommersant, Russia is increasing its oil exports to Pakistan,( SCO member) with the third shipment of the year being dispatched. The only current supplier is Surgutneftegaz. There have been discussions between Russia and Pakistan for some months about signing a long-...
By Rhod Mackenzie
The US government has eased sanctions against Venezuela in the hope that it will improve the situation in the oil market, where there has been a noticeable shortage recently. This is a significant breakthrough for the Latin American country. However, due to the state of Venezuel...
By Rhod Mackenzie
Russian oil producers delivered their initial shipments of the CPC Blend crude to the United Arab Emirates (UAE) during August and September, according to several traders. This development exposes a new export pathway, as Moscow seeks out fresh clients and attempts to bypass West...
By Rhod Mackenzie
The head of the US Treasury, Janet Yellen, is regarded as one of the originators of the price ceiling on Russian oil imposed by the G7 and the European Union at $60 per barrel. She holds a positive view of her creation and has iterated its perceived efficacy, despite evidence tha...
