SCO & BRICS latest news and insights
By Rhod Mackenzie
According to data from investment bank Goldman Sachs, the discount on the price of Russian oil to the Brent benchmark has decreased to nearly zero in recent weeks, after previously exceeding $30 per barrel. However, the discount on the purchase of the popular Russian Urals brand...
The State oil refiners in India are negotiating long-term agreements for supplies of crude with Russian energy giant Rosneft, Bloomberg reported, citing people with knowledge of the matter.
According to the report, Indian Oil, Bharat Petroleum, and Hindustan Petroleum are taking part in the discus...
In 2024, Germany hopes to persuade Kazakhstan to increase pipeline oil supplies through Russia to German refineries to 2 million tons this year, which is 1.7 times more than the current contract. However, the price of the supplies will be a determining factor, as Astana will need to reduce volumes...
By Rhod Mackenzie
In February, Russia's oil and gas revenues surged by over 80% from the previous year to exceed $10 billion, owing to the increase in crude prices.
The Finance Ministry reported that budget revenues from oil and gas taxes amounted to 945.6 billion rubles ($10.4 billion) last mon...
By Rhod Mackenzie
The new US sanctions will cause the already closed grey fleet that transports Russian oil to become even more restricted, further disrupting the global tanker market. and causing more chaos in the already chaoic sector.
The number of tankers in the grey fleet, which carries san...
By Rhod Mackenzie
The shift of Russian oil and petroleum product exports from Western sanctioned markets to Eastern and Southern markets is almost complete. However, replacing the European market for gas exports, whether pipeline or LNG, has proven to be a challenging task.
In the past two years,...
