SCO & BRICS latest news and insights
By Rhod Mackenzie
Russia's oil and gas revenues have continued to grow since the beginning of the year. This extra cash has made it possible to resume replenishing the country's reserves. However, the situation has become quite ambiguous and the risks of a decline in the country's income have not...
By Rhod Mackenzie
The largest oil company on the planet seems to have revised its oil demand forecast. Based on this sudden 180-degree turn, there have been significant changes in Saudi Aramco's long-term policy. The company, to everyone's surprise, including those in Saudi Arabia, has abandoned p...
By Rhod Mackenzie
Russian oil exports to the Asia-Pacific region (APR) amounted to 193 million tons in 2023. The OPEC+ deal has had an estimated 30 trillion ruble impact on the Russian budget. Pavel Sorokin, the First Deputy Minister of Energy of the Russian Federation, announced this on January 2...
By Rhod Mackenzie
The Indian Minister of Petroleum and Natural Gas, Hardeep Singh Puri, confirmed that the country purchases Russian oil at market prices. The decrease in purchases is due to the fact that oil from Saudi Arabia, the UAE, and Iraq is currently cheaper. According to the managing dire...
By Rhod Mackenzie
Houthi attacks on ships passing by the coast they control in the southwest Arabian Peninsula began late last year. As a result, many shipping companies, including giants such as Maersk, have been forced to send their ships around Africa, bypassing the Red Sea and the Suez Canal,...
Amidst the ongoing Russia-Ukraine war, more countries have shifted from decades-long petrodollar, as over a fifth of global oil trade in 2023 were completed in currencies different from the U.S. dollar.
Coming at a time when operators in Nigeria are seeking ways to settle domestic oil and gas trad...
