That puts refining companies in the last link of the oil industry's three-part value chain that works together to transform raw production into usable end products: Because refiners consume oil in ...

There is a growing concern in Western Capitals about the third world, raw material producing countries’ “geopolitical power” — its impact, origin and consequences on the developed countries.

In 2024, Azerbaijan continued to increase purchases of Russian oil, increasing them by almost a third. However, this did not help to keep the export of raw materials.

“The Russian vertical of power is based on raw material rents ... The restrictions were aimed at two major Russian oil producers - Gazprom Neft and Surgutneftegaz. Similar sanctions against ...