FSUOGM - Former Soviet Union Oil & Gas

7 December 2023

This winter’s gas crisis in Europe is already over before it began

6 December 2023

Europe went into this year’s heating season, which started on November 7, with its tanks full to bursting; the EU gas storage tanks were close to 100% full as the weather turned cold.

COP28 leader defends controversial remarks

6 December 2023

Sultan al-Jaber, the oil executive who is leading the COP28 climate summit in Dubai, has rocked the conference with highly controversial remarks that there is “no science” that phasing out fossil fuels is necessary.

US vows to maintain pressure on Russian energy sector for decades to come

6 December 2023

The US ambition is to halve Russia’s revenues from oil and gas by the end of the decade.

TotalEnergies to share methane detection, measurement technology with SOCAR, Sonangol, Petrobras

5 December 2023

TotalEnergies will share its AUSEA methane detection, measurement technology with SOCAR, Sonangol and Petrobras.

Rosneft ramps up output by 11% in 9M-2023

5 December 2023

Rosneft raised its hydrocarbon production by 10.7% in the first nine months of this year to 5.5mn barrels of oil equivalent per day.

Azerbaijan begins expansion into the European gas market

5 December 2023

Azerbaijan is actively working to carve out a greater market share for its natural gas in Europe – targeting some countries that once relied heavily on Russian gas.

COP28: Major oil companies pledge to cut methane emissions

5 December 2023

About half of the world's oil firms, totalling almost 50 companies, have committed to achieving "near zero" methane emissions and discontinuing routine flaring in their operations by 2030, and achieving net zero by 2050.

Transition risks for petrostates higher than ever, says report

5 December 2023

Petrostates are currently confronted with significant challenges arising from the ongoing energy transition. The diminishing demand for oil and gas is exerting downward pressure on commodity prices, which in turn threatens future revenue streams.

OPEC+ extends voluntary cuts as Brazil prepares to join

4 December 2023

The group failed to agree on an additional cut that would apply to all members, so leading producers have once again decided to cut over and above the OPEC+ quotas

Russian oil pipeline major Transneft grows 8% in 9M23

3 December 2023

Russian state oil pipeline operator Transneft posted 8% year-on-year revenue growth under IFRS to RUB980bn ($11bn) in 9M23. Net income grew 47% y/y to RUB245bn.

Profit of Russia’s oil giant Rosneft tops RUB1 trillion in 9M23

3 December 2023

Russia’s largest crude oil producer state-controlled Rosneft posted 76% year on year net IFRS profit growth to RUB1.07 trillion ($12bn) in 9M23. In 3Q23 alone net profit jumped 2.6-fold y/y to RUB419bn.