SCO & BRICS latest news and insights
By Rhod Mackenzie
Russia reduced oil production by 16% in the first quarter of 2024 compared to the same period last year, according to OPEC data. This reduction continued in April. Concurrently, the Ministry of Finance reports a 82% surge in oil and gas budget revenues in the first four months of...
By Rhod Mackenzie
The economies of most Western oil consumers are growing slowly or not growing at all. Furthermore, Russia’s BRICS partners are not the audience from which OPEC+ would intend to earn windfall profits. Therefore, oil has outlined a smooth compromise corridor, which can only be dire...
By Ivan Shchedrov
Since 2010, the India-Russia special and privileged strategic partnership has developed on a solid foundation of strong history and was maintained by the means of political imperatives. Russia supported India’s membership in the Shanghai Cooperation Organisation (SCO) and called...
Russian oil companies generated 1.053 trillion rubles ($11.55 billion) for the treasury in April, according to Bloomberg. This represents a doubling of revenues compared to April 2023 (497 billion rubles), driven by rising prices for oil and the weakening of the ruble.
Together with gas, budget re...
The volume of Russian oil exports to India in April reached its highest level in the past nine months, according to the Indian Express newspaper, which cited analysts on Friday, 3 May. This figure reached 1.96 million barrels per day, which is 19% higher than the figures for March, as reported by RT...
Kommersant reports that in March, Russian oil companies significantly increased sea exports to 3.8 million barrels per day due to problems with refinery utilization. This is the highest level since May 2023. The increase in oil exports is due to the redirection of flows from refineries damaged by dr...
