SCO & BRICS latest news and insights
By Rhod Mackenzie
The collective West, led by the United States, seems to have miscalculated once again. This time, Washington, London and Brussels clearly overestimated the importance of Western insurance companies, which were seen as the main means of enforcing the price cap on Russian oil intro...
By Rhod Mackenzie
This year Russia will continue to redirect oil supplies to the Asia-Pacific region (APR), including China and India, said the Deputy Prime Minister Alexander Novak at the plenary session of the TNF Industrial and Energy Forum on 20 September.
According to him, last year Russia p...
By Rhod Mackenzie
The price of Russian ESPO oil, which is mainly exported to China, has exceeded the price of the Brent benchmark. However, this situation is not an anomaly as ESPO light oil should be more expensive than the global benchmark Brent. This situation shows that the price of Russian oi...
By Rhod Mackenzie
A number of leading oil companies in India are considering the possibility of using revenues from assets in Russia totalling $600 million to buy oil from the Russian Federation because of difficulties in repatriating dividends, The Economic Times newspaper reported, citing offici...
By Rhod Mackenzie
OPEC disagrees with the forecast of the head of the International Energy Agency (IEA), Fatih Birol, that demand for fossil fuels will peak and decline by 2030, the organisation said.
Earlier in the week, Birol wrote about the future of fossil fuels in a Financial Times column,...
By Rhod Mackenzie
The OPEC+ countries participating in the deal reduced their production by 20 thousand barrels per day in August compared to July, to 35.99 million barrels per day, the overhang of quotas amounted to 3.59 million barrels per day, according to the monthly report of the Internationa...
