FSUOGM - Former Soviet Union Oil & Gas
Kazakhstan approves terms for joint gas projects with Qatar
Kazakhstan’s government announced on May 3 that it had approved terms and conditions for the joint development of four gas projects by national gas firm QazaqGaz and Qatar’s UCC Holding.
Kazakhstan to transit 35 bcm per year of Russian gas to China
Kazakhstan plans to transit 35bn cubic metres per year of Russian gas to China in the future, putting volumes on a par with Russian deliveries to China via the Power of Siberia pipeline.
Sweden says no need for international probe into Nord Stream blasts
Sweden has said there is no need for an international investigation into the explosions that ruptured the Nord Stream 1 and 2 gas pipelines in September 2022.
Kazakhstan presents compensation plan for exceeding crude production under OPEC+ agreement
The price cap on Russian oil is becoming increasingly unenforceable, says Mutual Insurance Club
The price cap on Russian oil is becoming increasingly unenforceable, said the International Group of P&I Clubs, or so-called Mutual Insurance Clubs, according to reports on May 3.
Russian oil dinosaur Surgut posts $3bn profit in 1Q24
Russian oil major Surgutneftegaz (SurgutNG or Surgut) posted a 1Q24 RAS revenue increase of 57% year on year to RUB650bn, while net profit declined by 30% y/y to RUB269bn ($2.9bn).
Russian oil deliveries to North Korea break UN sanctions
The US has called for new sanctions on Russia, which has exceed United Nations Security Council (UNSC) sanctions limits on deliveries of oil to North Korea, Reuters reported on May 2.
Gazprom hit with first annual loss in over 20 years
Gazprom, the state gas exporter that once served as Russia’s biggest cash flow, suffered its first annual loss in over two decades, reflecting the collapse in its revenues on the European market.
Ukraine to boost winter gas storage for Europe by 60%, says Naftogaz
The CEO of Ukraine's state energy giant Naftogaz has revealed ambitious plans to increase winter gas storage for foreign companies and traders by 60%, reaching approximately 4 bcm.
Russian gas pipe flow to Europe in April down 6% m/m but up 10.3% y/y
Russian pipeline gas flow to Europe in April was down 6% month on month, but up 10.3% year on year, as buyers opted for more supply from Gazprom because it is currently cheaper than LNG.
Russian firm hunts for oil in South Ossetia
The government of Georgia’s breakaway republic of South Ossetia has reached a deal with Russian oil firm Rusneftegaz on exploring for oil in the region.
OMV Petrom puts an end to exploration in Georgia’s offshore
Following unsuccessful attempts to identify a partner for the exploration of the II offshore perimeter in Georgia, OMV Petrom (BVB: SNP) has decided to put an end to the operations.
Ukraine's drone attacks on Russian oil refineries cause domestic petrol prices to surge
Ukrainian drone strikes on Russian oil refineries are causing a shortage of petrol on the domestic markets and have sent prices at the pump surging in the last few weeks.
Ukraine's top energy companies see 8% revenue increase in 2023
Leaders of Ukraine's energy sector witnessed an 8% growth in revenues in 2023, with the combined income of the country's top ten energy companies reaching nearly UAH745.9bn ($18.9bn).
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