FSUOGM - Former Soviet Union Oil & Gas

Rosneft surprises with $4.4bn profit in 1Q23, transparency still an issue

Russia’s largest crude oil producer, state-controlled Rosneft, posted RUB1.8 trillion ($25bn) revenues under IFRS in 1Q23, EBITDA of RUB672bn ($9.2bn), and net income of RUB323bn ($4.4bn) on revenue of RUB244bn ($3.3bn).

Ukraine prepares for winter gas supplies using only its own resources

Ukraine will boost its domestic production of gas to 13.5bn cubic metres and hopes to store enough gas to get through the coming heating season without imports.

Biden officials ‘in serious talks’ with Turkmenistan on curbing vast methane emissions

Deal could be struck ahead of COP 28 climate summit. It would be hailed as a major breakthrough in addressing global warming.

Rosneft proposes benchmarking Urals blend oil to Dubai, not Brent

Russia could start benchmarking the fiscal calculations for the oil and gas sector to Dubai blend oil, instead of the current Brent, Kommersant reported citing unnamed market sources and state-controlled Rosneft, Russia's largest crude producer.

Russian government accelerates petrochemical sector development plans

The roadmap outlines plans to increase the large-scale production of polymers by 34% by 2025 and shorten previous development target deadlines by a decade.

Kazakhstan boosts first-quarter oil exports to EU replacing Urals grade

Kazakh state-run oil producer KazMunayGas sees 1Q23 decline in revenues despite growth in output