FSUOGM - Former Soviet Union Oil & Gas

29 March 2023

US replaces Russia as Europe's top oil supplier in December

28 March 2023

The US has replaced Russia as Europe’s main oil supplier, according to data published by Eurostat on March 28, accounting for 18% of EU crude imports.

Moscow may demand compensation for damages to Nord Stream pipes

28 March 2023

Russia might seek compensation for the damage sustained to the Nord Stream 1 and 2 pipelines in September last year as a result of suspected sabotage, a government official has said.

Denmark invites Nord Stream 2 operator to salvage object

26 March 2023

Denmark has invited the Russian-owned operator of the Nord Stream 2 gas pipeline to help salvage an unidentified object that was found near the only string that was unaffected by sabotage attacks last September.

Russia proposes hiking domestic gas tariffs to offset lost export revenues

26 March 2023

Russia’s State Duma has proposed revising domestic tariffs for gas use to offset the losses Gazprom has sustained from losing much of its gas market share in Europe.

Naftogaz proposes restructuring scenario with investors

25 March 2023

Naftogaz, Ukraine’s state-owned oil and gas company, proposed a restructuring scenario during an online meeting with holders of 2022 and 2026 eurobonds, Ukraine Business News reported on March 24.

Russia fails to clinch new gas supply deal during Putin-Xi talks in Moscow

24 March 2023

Chinese President Xi Jinping has made his first trip to Moscow since war broke out in Ukraine. But among the raft of economic agreements that were signed, Russia’s hoped-for contract to supply gas via a new pipeline to China was not among them.

Russian petrochemical major Sibur keeps ambitious output, boost China and Turkey exports

24 March 2023

Russian petrochemical major Sibur plans to upgrade its guidance for production of polymers in 2023, Tass reported citing the company’s board member Pavel Lyakhovich. "The figure will be higher for polymers; the business plan is higher," he said.

Xi, Putin meeting: “Loud thunder but few raindrops”

23 March 2023

Chinese President Xi Jinping took his leave of Russian President Vladimir Putin from a two-day visit to Moscow with a smile on his face. But despite the important show of solidarity, Putin got little in concrete terms from the Chinese leader.

Putin says Russia ready to increase oil and gas supplies to China

23 March 2023

Russian President Vladimir Putin has said that Russia is ready to increase oil supplies to China, its key energy partner, following a meeting with Chinese President Xi Jinping in Moscow on March 20-21.

Russia becomes China’s top oil supplier in 2M23

22 March 2023

Russia overtook Saudi Arabia to become China's top crude oil supplier in the first two months of 2023, Reuters reported citing Chinese government customs data and attributing the growth to buyers snapping up sanctioned Russian oil at steep discounts.

Gazprom unveils another LNG project in Tatarstan, expanding domestic gas demand to offset export losses

21 March 2023

Gazprom LNG technologies is constructing another small-scale LNG factory for RUB28bn in Tatarstan, where the capacity of gas filling stations is used only by 20%, but probably “it is early to talk about economic effect”.

Tatneft net profits surge 70% in 2022 on increased petroleum product revenues

21 March 2023

Net IFRS profits at Russian mid-sized oil firm Tatneft soared by nearly 70% in 2022 to RUB285bn ($3.7bn), with the company gaining from increased petroleum product sales and higher prices.

Rosneft posts $11bn profit for 2022 as dividends pour into state

21 March 2023

Russia’s largest crude oil producer state-controlled Rosneft posted RUB813bn ($10.6bn) net IFRS profit for 2022. For 4Q22 alone, the company posted RUB222bn profit ($3.5bn), up by 67% y/y, with RUB1.8 trillion revenues and $8.5bn EBITDA.