FSUOGM - Former Soviet Union Oil & Gas

UK removes sanctions on two subsidiaries of Russian Lukoil in Bulgaria

UK issues a license temporarily lifting sanctions from two Bulgarian subsidiaries of Russian oil major Lukoil

Fitch affirms Uzbekneftegaz at ‘BB’, notes company’s falling gas output

Fitch Ratings has affirmed JSC Uzbekneftegaz's (UNG) Long-Term Issuer Default Rating (IDR) at 'BB' with a Stable Outlook, while at the same time noting the company’s falling gas output.

India confronts stricter US sanctions as Russian oil imports decline

India’s reliance on discounted Russian crude — a pillar of its energy strategy since 2022 — has come under renewed strain as Washington tightens sanctions and imposes fresh tariffs on Moscow’s energy sector.

Romania avoids taking over management of Lukoil refinery

Romanian authorities plan to draft framework legislation to facilitate the sale of Lukoil’s assets, including the Petrotel refinery. Initially, Romania planned to take over temporarily the management of the refinery.

LONG READ: How oil price discounts became a barometer of the sanction’s effectiveness

When Russian troops crossed into Ukraine in February 2022, the country’s main crude export blend, Urals, was still trading in line with its traditional discount to Brent of $2. A month later Russia discounted it by $30 to find buyers.

Trump still wants full control for support of Russia sanctions bill

China’s Yangchang Petroleum purchases crude from UAE and Kazakhstan after halting Russian oil imports

US super-majors circle around Lukoil’s assets in Kazakhstan and Iraq

Exxon Mobil has reportedly joined Chevron in exploring potential acquisitions of Lukoil’s international assets since the US Treasury authorised companies to begin discussions with the sanctioned Russian oil firm.

Mongolia-focused TMK Energy reports production milestone at “enormous, discovered gas resource on doorstep of China”

TMK Energy (ASX: TMK) on November 18 announced a record gas production milestone at its 100%-owned Gurvantes XXXV Coal Seam Gas (CSG) Project in Mongolia.

Ukraine agrees rapid gas supply deal with Greece as Russian strikes hit energy system

Russia’s Tatneft to pay 3Q25 dividends

Tatneft of the Republic of Tatarstan remains one of the most consistent dividend payers among Russian oil names

Mongolia to create working group to develop Soyuz Vostok gas pipeline

Tsivilev said Russia remained committed to the successful and timely execution of the pipeline project.

Novatek ends eastbound LNG exports via the Northern Sea Route

The last shipment is being carried by the Arc7 tanker Boris Vilkitsky, and no further vessels are heading east, marking the end of the region’s spring–summer navigation period.

Yamal LNG risks losing insurance for vessels after UK sanctions

All vessels serving Novatek’s Yamal LNG plant are currently insured by the UK P&I Club, a leading mutual insurer whose structure pools liability among member shipowners in the event of a claim.

KMG, UNG agree to explore oil block in west Kazakhstan

KMG and UNG plan to drill two exploration wells, each 2,000 metres deep, on the Zharkyn block in Kazakhstan’s Mangystau region.

Russia to invest $5bn in new Fast East shipyard

The project involves the construction of a shipyard at Promezhutochnaya Bay with planned production capacity of up to 12 vessels per year.

Ukraine's DTEK imports first US LNG cargo

The shipment marks the first time a Ukrainian private energy company has chartered a vessel and arranged loading on FOB terms in the US.

Chevron throws hat into Lukoil’s overseas assets bidding as US eases restrictions – Reuters

Italy remains top buyer as Azerbaijan exports $10.85bn of crude oil in ten months

Azerbaijan exported crude oil worth about $10.85bn in January–October 2025, with Italy retaining its position as the main buyer, according to State Customs Committee.

Kazakh energy minister denies speculation over talks to acquire Russian Lukoil’s assets

Kazakhstan is not in discussions with Russia’s Lukoil on acquiring the company’s assets in the country, Energy Minister Yerlan Akkenzhenov told reporters on November 17.

Kazakhstan files for arbitration in Switzerland in longrunning disputes against oil majors

Kazakhstan has escalated its longrunning disputes with major international oil companies by filing for arbitration in Switzerland in two cases that together seek up to $166bn in damages, it was reported on November 17.

OFAC extends Russian oil major’s Lukoil license for asset sales

The US Treasury extends the asset sale licence for sanctioned independent Russian oil major Lukoil

Uzbekistan's Allied Biofuels, India’s Praj Industries sign MoU to develop region’s biggest ethanol and SAF facility

Uzbekistan-registered Allied Biofuels FE LLC and India’s Praj Industries Ltd have signed a memorandum of understanding (MoU) on developing Central Asia’s largest ethanol facility.

Three companies interested in acquiring Lukoil’s Romanian refinery

At least three companies have expressed interest in acquiring Lukoil’s Petrotel refinery and parts of its fuel station network in Romania, Minister Bogdan Ivan said. Hungary's MOL and Greek Hellenic Petroleum may compete with US fund Carlyle.

US issues sanctions exemption on Kazakh oil shipments via CPC

The US has issued a sanctions exemption that allows Kazakhstan’s key oil infrastructure and major upstream projects to continue operating despite Washington’s latest restrictions on Russian energy companies.

Russia resumes oil loading at drone-hit Novorossiysk, Kazakhstan’s loadings continue without interruption

Moldova temporarily assumes control of Lukoil assets to maintain kerosene supply at Chisinau Airport

The Government of Moldova has taken temporary control of Lukoil’s assets, including the kerosene supply unit at Chisinau Airport (AIC), under a transitory arrangement. State-owned AIC will later take over ownership of the Russian group's assets.

Azerbaijan’s mining output declines 2.1% in ten months

Mongolia-focused Jade Gas moves to work with China’s Zhengzhou Langrun Intelligent Equipment Co on Red Lake field

ASX-listed & Mongolia-focused Jade Gas Holdings (JGH) has entered into a non-binding letter of intent (LOI) with Zhengzhou Langrun Intelligent Equipment Co, a Chinese gas equipment manufacturer and operator primarily focused on coal bed methane.

Turkey’s LPG imports rise 16% y/y in Sept

Turkey’s liquefied petroleum gas (LPG) imports moved up by 16.4% y/y to 286,885 tonnes in September, according to the LPG Market Sector Report published by the Energy Market Regulatory Authority (EPDK).

Russian coal exports rebound 10% in October

Russian coal exports rebound in October on strong demand in Asia, prices recover

EXPLAINER: Lukoil scrambles to sell its international operations

Time is running short for Russia’s second-biggest oil producer to divest its vast international business, after it was hit with US sanctions that will soon render its assets outside Russia effectively inoperable.

EU LNG imports set for record high in November as US supply surges

Liquefied natural gas (LNG) imports into the European Union are on track to hit an all-time monthly high in November, driven by a sharp rise in shipments from the United States.

COMMENT: Ukraine slowly wearing down Russia's oil industry

Russia’s oil industry, long seen as the bedrock of the country’s economic strength, is being slowly degraded—not by sanctions or falling demand, but by the persistent and methodical pressure of Ukraine’s drone attacks.

Naftogaz to receive €127mn EIB grant to boost gas imports as attacks strain Ukraine’s energy system

Ukraine’s state-owned Naftogaz Group will receive a €127mn grant from the European Investment Bank (EIB) to finance additional gas imports.

S&P forecasts easing inflation in Azerbaijan as it upgrades SOCAR’s credit rating

Lukoil seeks US sanction extension, as Carlyle and Rosneft said to eye assets

Russia’s Lukoil is seeking an extension to the US sanctions deadline as the asset sale stalls, according to a report citing unnamed sources.

Chinese consortium wins $424mn pipeline contract in Kazakhstan

A consortium led by a subsidiary of China Petroleum Engineering Corporation (CPEC), the construction division of China National Petroleum Corporation (CNPC), has secured an engineering, procurement and construction (EPC) contract.

Azerbaijan boosts gas output from ACG, Shah Deniz and Absheron as exports to Turkey rise

Azerbaijan increased natural gas production to 38.2 bcm in January–September 2025 and raised pipeline exports to Turkey to about 7.84 bcm in January–August, according to new data from the Energy Ministry of Azerbaijan.

China said to develop shadow fleet for Russian LNG

German SEFE to terminate Russian LNG deal by 2027

Chinese and Indian refiners tiptoe around Russian oil

Bulgarian president vetoes law on seizure of Lukoil assets

The veto comes just ten days before new US sanctions on Lukoil take effect, which could block the operation of its Bulgarian assets.

Russia signals readiness to give up control of Serbia’s NIS amid US sanctions

Russia is prepared to relinquish control of Serbia’s oil company, NIS, to a third party to resolve US sanctions that threaten the firm’s operations and Serbia’s energy security.

How sanctions are hurting Lukoil in Europe

Sweeping Western sanctions imposed in October 2025 on Lukoil, Russia’s second-largest oil producer, have triggered a cascade of legal, operational and financial crises across multiple regions.

UK to cut off services for Russian LNG exports

The UK’s Foreign Office said the ban will be phased in during 2026 “in lockstep with our European partners,” ahead of a meeting of G7 foreign ministers in Canada.

Romania preparing law to place Lukoil refinery under state control

Romania’s Ministry of Energy is drafting legislation that would allow the state to take control of Lukoil’s Petrotel refinery in Ploiești to ensure compliance with international sanctions and protect national energy security.

Moldova plans to take over Lukoil’s kerosene supply business at Chisinau Airport

The Government of Moldova is preparing to take control of the aircraft fuel supply infrastructure owned by Lukoil-Moldova through the state-owned Chisinau International Airport, Minister of Energy Dorin Junghietu announced.

Kazakh PM, US-based LanzaJet meet over plan to construct eco-friendly jet fuel production plant

Kazakhstan’s Prime Minister Olzhas Bektenov and Jimmy Samartzis, CEO of US-based LanzaJet (NASDAQ:LNZA), Inc, held a meeting with a focus on the localisation of advanced technologies and the implementation of a joint SAF project.

Lukoil calls force-majeure in Iraq as sanctions bite

The Russian firm is set to withdraw from its largest international asset as US sanctions measures sink a potential deal with Gunvor