SCO & BRICS latest news and insights
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,...
By Rhod Mackenzie
Chinese oil refiners have replaced their Indian counterparts, who reduced purchases of Russian Sokol oil due to fear of American sanctions. In February, Chinese oil refiners, mostly private owners, purchased an average of 168 thousand barrels of Sokol daily, three times more than...
By Rhod Mackenzie
According to Vladimir Nezhdanov, an analyst at the Institute of Current International Problems (IAMP) of the Diplomatic Academy of the Russian Foreign Ministry, trade turnover between Russia and China could reach a record level of over $250 billion by the end of 2024.
The leade...
By Rhod Mackenzie
While many countries are moving away from using coal to consign its use to history, China continues to increase its consumption. This commitment to coal seems to contradict China's impressive successes in green technologies and poses a threat to global efforts to combat climate ch...
By Rhod Mackenzie
After the EU banned imports of oil and petroleum products from Russia, it was India, not the United States, that became Europe's main petrol station. By refining Russian oil, it has become the main supplier of petroleum products. India's annual revenues from supplies to the EU ha...
The Russian Deputy Prime Minister Alexander Novak announced on February 20th, during a plenary session at the International Exhibition and Forum 'Russia' at VDNKh, that global oil demand will continue to grow until at least 2040.
'Novak noted that despite some people cl...
