Economy

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CNPC plans new shale oil field near China's Daqing

China National Petroleum Co (CNPC) said on Wednesday it plans for new shale oil production from formations within the area of the existing Daqing oilfield that will help replenish that site's diminishing output. CNPC said it aims to …

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Russia’s public debt exceeds 20 trillion

Russia’s public debt increased by 1.48 trillion rubles for the first half of 2021 and amounted to 20.4 trillion rubles, the Accounts Chamber said in its report on execution of the federal budget for January-June 2021.  …

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Moscow’s Karabakh puzzle 

The anniversary of the 44-day Second Karabakh War that became victorious for  Azerbaijan, is approaching: three-quarters of the region returned to Baku, and a Russian peacekeeping contingent was deployed on the rest of the territory, where ethnic Armenians compactly live

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Russia's answer to US shale

Russia regards its Arctic oil and gas development in the same way that the U.S. saw its shale oil and gas sector around 20 years ago, which is a truly game-changing opportunity to alter the balance of power in the world’s hydrocarbons markets

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Israel and Azerbaijan step towards globalization

Last month, I became the first Israeli businessman to sign a memorandum of understanding with the Azerbaijan Investment Company, the sovereign investment arm of the Azeri government, on the historic occasion of the opening of the Azerbaijan Trade and Tourism Office in Tel Aviv

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China and Arab States boost e-commerce

Though the energy sector has been underpinning China-Arab trade ties, cross-border e-commerce has increasingly been turned to as a vital thoroughfare linking Arab states and their largest trading partner

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Oil extends gains on brighter demand outlook

Oil prices rose on Tuesday, extending sharp gains on a bullish demand outlook as Mexico suffered a big production outage and U.S. regulators issued their first full approval for a COVID-19 vaccine. Brent crude oil futures were up $1.09, …

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Oil extends gains on brighter demand outlook

Oil prices rose on Tuesday, extending sharp gains on a bullish demand outlook as Mexico suffered a big production outage and U.S. regulators issued their first full approval for a COVID-19 vaccine. Brent crude oil futures were up 83 …

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U.S. to sell up to 20 mln barrels of SPR oil

The U.S. Department of Energy said Monday it would sell up to 20 million barrels of crude from the emergency oil reserve to comply with legislation passed in recent years. Up to 8 million barrels will be offered from the Strategic …

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Russia to get $18 bln of IMF reserves in SDR allocation

Russia will receive about $18 billion worth of reserves from the International Monetary Fund (IMF) on Monday which will help ease an acute economic situation in the country, RBC reported. The IMF will distribute about $650 billion in …

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