FSUOGM - Former Soviet Union Oil & Gas

8 January 2020

Russia resumes oil deliveries to Belarus after new supply deal agreed

5 January 2020

Russia suspended oil deliveries in the first week of January as it failed to agree a new supply contract with Minsk, but supplies were resumed on January 4 after talks between the two countries' prime ministers.

Russia halts oil supplies to Belarus after talks on a new supply contract fail

4 January 2020

The previous supply contract expired on December 31, 2019 and the two sides had been trying to agree a new deal.

Russia, Ukraine agree on new five-year transit deal as US slaps sanctions on Nord Stream 2, TurkStream pipelines

21 December 2019

Ukraine and Russia have agreed on the principles of a five-year gas transit deal that still needs to be signed before December 29 just as the first US company suspends construction activities on Nord Stream 2 pipeline after new sanctions were imposed

Ukraine, Russia reach gas transit agreement 'in principle'

20 December 2019

Ukraine and Russia have reached an agreement on natural gas transit from early January "in principle", Vice-President of the European Commission Maros Sefcovic said following the trilateral talks in Berlin on December 19.

No gas transit deal with Russia “99% certain” as Ukraine hikes gas tariffs for local producers

18 December 2019

The chances of no gas transit deal being struck between Ukraine and Russia before the December 31 deadline is “99% certain” Ukrainian officials told leading gas producer JKF.

Gazprom slashes investment for second year in a row

16 December 2019

The management committee of Russia's Gazprom has approved a 16.5% cut in investments next year, marking the second annual reduction in a row, the state gas exporter reported on December 12.

Russia, Ukraine strike preliminary gas transit deal

15 December 2019

Russia and Ukraine have struck a preliminary gas transit deal to replace the contract that is due to expire on December 31, 2019, Naftogaz executive director Yuriy Vitrenko said on his Facebook page.

Rosneft taking the reins of its JVs with PdVSA in Venezuela

12 December 2019

Rosneft, Russia’s largest oil producer, is reportedly taking the reins of several joint ventures it has set up with PdVSA, Venezuela’s national oil company (NOC).

Poland is ready if Russia cuts gas transit to the EU across Ukraine this winter

12 December 2019

Poland is ready if Russia cuts gas transit to the EU across Ukraine this winter, oil and gas company PGNIG said in a statement on December 11.

The price Europe pays for Russian gas fell to its lowest level in 15 years

4 December 2019

The price Europe pays for Russian gas fell to its lowest level in 15 years, according to Russian national gas company Gazprom’s accounts.

Russia's $55bn Power of Siberia gas pipeline to China comes online

3 December 2019

Russia’s Gazprom flagship Power of Siberia gas pipeline mega-project that connects Russia’s Siberian gas fields with China came online on December 2, after the investment of billions of dollars that will earn the company billions more

Ukraine, Russia discuss new gas transit deal at bilateral meeting

2 December 2019

Ukrainian and Russian ministers extended talks for a new natural gas supply contract though Ukraine at a bilateral meeting in Vienna on November 28, Ukraine's energy ministry said in a press release that day.

Ukraine has 16 days left to do a transit deal with Gazprom

27 November 2019

Time has almost run out for Russia and Ukraine to strike a new gas transit deal before the previous one expires. There are 16 days left until December 13 before it becomes impossible to reach a new agreement ahead of the expiration of the contract.

Gazprom prepares Power of Siberia launch

27 November 2019

More than a decade in the making, the Power of Siberia natural gas pipeline will finally start operations next week.

Kazakhstan delays big oil, airline and telecoms IPOs again

27 November 2019

Officials act amid market uncertainty after hired advisers say they should wait on valuations to improve.

Regal eyes Ukrainian production licences

26 November 2019

Regal owns 100% of MEX-GOL and SV, which span a combined 269 square km and are operated as a single development. The developer acquired a 100% stake in the VAS field, which covers 33.2 square km, in July 2016.

Kazakhstan rejects Karachaganak settlement offer

26 November 2019

Kazakhstan has walked away from a $1.1bn offer the Karachaganak development consortium made in October 2018 in the hope of settling a long-running profit-sharing dispute.

KazMunayGas’s Atyrau petrochemical complex is half finished

26 November 2019

Kazakhstan’s state-owned KazMunayGas is reportedly on track to finish half of the construction work on its petrochemical complex in the western region of Atyrau.

Putin vows to keep working with OPEC on supply cuts

26 November 2019

Russian President Vladimir Putin has said his country will continue working with OPEC to reduce oil production in order to balance the international oil market.

Naftogaz open to new deal with Gazprom

26 November 2019

Ukraine’s state-owned Naftogaz has said it is open to reaching a new natural gas supply and transit contract with Russia’s state-run Gazprom.

Mystery buyer snaps up 3.6% of Gazprom with discount in second SPO this year

22 November 2019

Russian natural gas giant Gazprom sold 3.59% of its quasi-treasury shares at RUB220.7 per share, making a sizable 13% discount to market. Notably, the buyer of the stake is not disclosed, making it the second mystery SPO this year in Russia's largest

Putin says humanity will end up in caves if it abandons hydrocarbons

21 November 2019

If humanity completely abandons hydrocarbons in the energy sector it will “end up in caves”, Russian President Vladimir Putin told delegates at the VTB Russia Calling investment summit.

BOOK REVIEW: Why Germany’s commercial interests prevail in its dealings with big, bad Gazprom

21 November 2019

There is an enigma as to why German political and public opinion is in favour of the Kremlin’s controversial Nord Stream-2 gas pipeline. "The Bridge: Natural Gas in a Redivided Europe" by Thane Gustafson tries to solve the riddle.

Gazprom extends its lead in the King of the castle race

16 November 2019

State-owned gas company Gazprom extended its lead over rival state-owned banking giant Sberbank in the race to be Russia’s most valuable company, after its market capitalisation stepped up by over $10bn in November to make the company worth $93bn.

PetroSA, Rosgeologia continue talks on offshore Blocks 9 and 11A

12 November 2019

South Africa’s national oil company (NOC) PetroSA is reportedly still in talks with Rosgeologia, Russia’s state geological concern, on participation in the development of two offshore blocks.

Germany fails to protect Nord Stream 2 from EU gas laws

11 November 2019

Germany’s Bundestag parliament has failed to pass a bill that would have helped shield the controversial Nord Stream 2 gas pipeline project from recent amendments to the EU’s gas directive.

Ukraine's natural gas monopoly raises $500mn via new Eurobond placement

5 November 2019

Ukraine's natural gas monopoly Naftogaz has raised $500mn via a seven-year Eurobond, the company said in a statement on November 5.

Azerbaijani gas ‘won’t flow to EU terminus until at least October 2020’

1 November 2019

Delays reportedly caused in construction of final stretch of 3,400-km Southern Gas Corridor that is to make landfall in Italy.

Vostok Oil is the new kid on Russia’s energy block

31 October 2019

Vostok Oil is a joint venture set up to explore and exploit the oil resources of the Arctic, and the Kremlin has started to throw significant resources at the company as Russia’s existing oil fields reach peak production.

Denmark greenlights Nord Stream 2 construction in its waters

31 October 2019

After months of bitter wrangling, the government of Denmark gave the go-head for Russia’s Gazprom to build the Nord Stream 2 pipeline through its territorial waters – the last country on the route between Russia and Germany to grant construction perm

Turkmenistan to extend Petronas’ PSC for Block 1

30 October 2019

Malaysian Prime Minister Mahathir Mohamad has said Turkmenistan will extend state-owned Petronas’ production-sharing contract (PSC) for offshore Block 1 in the Caspian Sea by 10 years until 2038.

Moscow’s new African initiatives

30 October 2019

Russian companies and African states signed a number of new memoranda last week at the first Russia-Africa Summit in Sochi

Latest Russia-Ukraine gas talks fail to yield breakthrough

29 October 2019

Officials from Russia, Ukraine and the EU met again on October 28in Brussels to discuss terms for the transit of Russian gas via Ukraine next year, with still no breakthrough in negotiations in sight.

Shares of Russian oil dinosaur Surgut soar in mystery rally

28 October 2019

The shares of Russian fourth largest oil producer Surgutneftegaz (Surgut) leaped by a third (31%) in value between October 23 and October 25 and setting a new all time high price record of RUB48 ($0.75), with no apparent catalysts or news flow.

Tankers for Novatek’s LNG projects shielded from sanctions

22 October 2019

The owner of four tankers servicing the liquefied natural gas (LNG) Yamal of Russian gas major Novatek is exempt from the latest round of the US sanctions, RBC business daily reported on October 22.

Russian petrochemical giant Sibur produces first polyethylene from its own feedstock at ZapSibNeftekhim

21 October 2019

After the ramp-up to its full capacity, the ZapSibNeftekhim petrochemical facility will manufacture 1.5 mt of polyethylene per year, making it Russia’s largest polymer production facility.

Rosneft builds base in Arctic

21 October 2019

Rosneft has won subsoil rights to a new oil and gas block in the north of the Krasnoyarsk region, consolidating its position in the Arctic.

No short-term solutions for Cuban fuel shortages

10 October 2019

Cuba is feeling some relief from fuel shortages following the arrival of eight Venezuelan tankers, but it cannot expect rescue from Venezuela or Russia.

Rosneft pins petchem hopes on India

9 October 2019

Russia’s state-run oil company Rosneft is looking to make a foray into India’s petrochemicals market, after experiencing setbacks in the domestic sector.

NEWSBASE: Third of large Russian oilfields unprofitable: Rosnedra

9 October 2019

Russian subsoil licensing agency Rosnedra has taken an inventory of Russia’s major oilfields and found that one third of them are unprofitable to develop.

NEWSBASE: Gazprom advances LNG plans

9 October 2019

Russia’s Gazprom has struck a deal with Germany’s Linde on setting up a joint venture to design facilities for the processing and liquefaction of natural gas.

Russia blocks booming suspicious coal exports to Ukraine via Belarus

9 October 2019

The Russian authorities have been blocking exports of coal from its territory to Ukraine through the territory of neighbouring Belarus, according to the Ukrainian Ministry of Energy and Coal Mining.

Uzbekistan’s five-year goal to overhaul its energy industry

2 October 2019

The relaxation of Uzbekistan's energy industry’s ownership has created a bonanza of redevelopment projects set to be completed in the next five years. These projects including energy generation and a general liberalisation of state ownership

Russia's Gazprom moves ahead in buying out large subcontractors

26 September 2019

Natural gas giant Gazprom reportedly closed a deal to buy out 100% of its largest subcontractor Stroygazmontazh controlled by stoligarch Arkady Rotenberg.

Russia signs off on Paris accord, sets itself an easy CO2 target

24 September 2019

The Russian government has ratified the 2015 Paris Agreement on combating climate change, committing itself to reducing carbon dioxide emissions to 70% of 1990 levels by 2030.

Unpacking Azerbaijan’s sovereign wealth record

24 September 2019

Global energy prices and the scale of Azerbaijan’s energy exports will determine whether the fund can continue growing at such a rapid pace.

Russian government values oil reserves at $1 trillion

20 September 2019

Russia’s Ministry of Natural Resources and Environment has estimated the total value of Russia's oil reserves at RUB74.5 trillion ($1.2 trillion), almost doubling the valuation over one year, RBC business portal reported. Total value of hydrocarbons,

Poland and Lithuania say Nord Stream 2 is energy security threat in CEE region

18 September 2019

Warsaw and Vilnius fear Moscow will use the pipeline as a geopolitical tool against the region, Ukraine in particular.

Poland hints at stopping purchases of Russian gas altogether

18 September 2019

Poland finally has the infrastructure to reduce dependence on Russian gas, after it built an LNG terminal in the western town of Swinoujscie.

New Age M12 Holdings finalises sale of 25% stake in Marine XII to Lukoil

17 September 2019

New Age M12 Holdings has wrapped up the sale of its 25% stake in Marine XII, a shallow-water block located offshore Republic of Congo, to Lukoil, Russia’s largest privately owned oil operator.

Senior diplomat: US government won’t rule out sanctions on Rosneft for Venezuelan oil trade

11 September 2019

The US government may take action against Rosneft, Russia’s largest oil operator, for expanding its trade in Venezuelan crude oil.

Green light for Arctic LNG 2

11 September 2019

Russia’s Novatek has greenlighted the development of its second LNG export project in the Arctic, as it sets its sights on becoming one of the world’s leading LNG producers.

Turkey’s banking association expects $10bn of electric utility loan restructuring this year

10 September 2019

Energy companies left up to their necks in debt by lira crisis.

Russia's Rosneft oil major claims Druzhba crisis still unresolved

3 September 2019

Russian oil major Rosneft claims that state oil pipeline operator Transneft has failed to resolve all the issues with chlorine contaminated oil, Reuters reported on September 3 citing the announcement of Russia's largest crude oil producer.

KPMG says Moldovan investor falsified financial statements to claim $500mn from Kazakhstan

3 September 2019

Auditor’s decision to withdraw three years of reports is likely to change the outcome of the $500mn international legal battle between businessman Anatol Stati and the Kazakh state.

Russia's Rosneft and finance ministry wrestle over Arctic funding

20 August 2019

Russia's finance ministry is insisting that the moratorium on oil and gas extraction support is extended for the Arctic region, while Rosneft pushes through support for its Arctic project Vostok Oil.

Russia’s LNG production soaring in 2019

16 August 2019

Russia has kept is oil and gas production capped in keeping with the terms of the OPEC+ deal, but the production of LNG has soared in the last year, as the Kremlin hopes to turn gas into a commodity that can be sold anywhere.

Russia's Gazprom could SPO another 3.7% in autumn 2019

8 August 2019

Russia's natural gas giant and pipeline exports monopolist Gazprom could SPO an additional 3.7% of its quasi-treasury shares in the next few months to cash in again on a dramatic rally in the company’s share price in July

Russian oil, gas output continues rising despite setbacks

6 August 2019

Russian oil and gas production climbed further in the first seven months of 2019, despite cutbacks relating to the dirty oil crisis and a recent dip in gas exports.

Ukraine considers repeating tender for offshore oil and gas block

6 August 2019

London-traded oil company Trident Resources recently won a contest for exploration rights to more than 9,500 square km of acreage in the Black Sea, although the government has suggested it may cancel the award.