FSUOGM - Former Soviet Union Oil & Gas
What is the outlook for Russian oil output this year?
OPEC maintained its forecast for Russian oil production this year at 10.28mn barrels per day in its latest monthly report, despite the government’s recently announced plan to curtail exports by 500,000 bpd in August.
Ukraine has amassed 10.5bn cubic metres of gas for heating season, but more is needed
Ukraine has amassed 1.5bn cubic metres of gas in its storage facilities since March 2023, bringing the total to 10.5 bcm, which is still a long way off from the 14 bcm needed for the 2023/24 heating season, Economic Pravda reported on July 19.
Zarubezhneft eyes divestment off Indonesia
Russian state oil firm Zarubezhneft intends to divest its interest in the Indonesian Tuna gas project after its UK partner Harbour Energy said Western sanctions were complicating their joint activities.
Finland's Gasum resumes Russian LNG purchases
Novatek CEO Leonid Mikhelson said in June that Gasum had not bought any LNG from the Kryogas-Vysotsk plant, situated in north-west Russia, since April.
Russia to slash oil exports in August
Russian oil exports are slated to drop by 100,000-200,000 barrels per day in August versus the level this month, sources told Reuters last week, signalling that Moscow intends to follow through on its OPEC+ commitment to make further supply cuts.
Lukoil, KMG well in Kazakh Caspian Sea turns up dry, project disbanded
Russia’s Lukoil and Kazakhstan’s Kazmunaygas (KMG) have disbanded a joint venture to explore the Zhenis block in the Kazakh Caspian Sea, in a further disappointment for Astana’s efforts to spur offshore hydrocarbon development.
Kazakhstan transits four times more Russian oil to Uzbekistan
Uzbekistan has started significantly increasing imports of Russian oil through Kazakh pipelines after a long three-year hiatus, Kazakh oil pipeline operator KazTransOil (KTO) has said.
SOFAZ's assets in 1H23 reached almost $55bn
SLB oilfield major to stop Russian supplies
Major oilfield services company SLB (formerly Schlumberger) has announced stopping product and technology supplies to Russia from all of its facilities around the world due to tougher international sanctions, according to the company.
FSUOGM: Russia to remain OMV’s primary gas source
SOFAZ transferred almost half the forecast annual transfers to the state budget in 1H23
West African waters become key destination for tankers involved in Russian oil transfers
Africa’s western coastal zone has seen a significant uptick this year in illicit ship-to-ship (STS) transfers of crude oil from Russia.
EU claims of New Delhi acting as a Russian middleman shrugged off in India
EU officials say bloc needs to crack down on what is essentially the reprocessing and selling on of sanctioned Russian crude oil by New Delhi.
Russian crude hits a 7-month high for China, output cuts beckon
News that caused more than a few ripples across the Chinese language business papers last week is still sinking in in Beijing, as prices for Russian ESPO crude imports hit a 7-month high earlier in the month.
Urals price hits $60 price cap level for first time
The value of Russia's key Urals crude export grade has hit $60/b for the first time since the US-led G7 coalition rolled out its price cap on Moscow's oil. This will pose a challenge for Europe’s shipping industry.
Kazakhstan restarts idle wells after blackout
Kazakhstan's state-run oil and gas producer, KazMunayGaz, along with regional producers, is restarting thousands of idle wells following a blackout that affected the Mangistau and Atyrau oil provinces in the western part of the country.
Enagas names Russia as Spain’s largest LNG supplier in June 2023
Russia was the largest supplier of LNG to Spain in the month of June, providing more than a quarter of the country’s total purchases, according to Enagas data.
Expansion of refinery shutdowns may prevent Russia from upholding promises to OPEC+
Russia may have difficulty upholding its pledge to cut oil production in line with the goals of OPEC+ because of its decision to shutter more refining capacity than previously anticipated in July.
Rosneft takes another step away from Venezuela
Russia's Rosneft has given up its control over 49.9% of stock in Citgo but still appears interested in Venezuela.
OMV head says his country will continue to source most of its gas from Russia
Alfred Stern, CEO of the Austrian energy group OMV, says his company will continue to source the majority of its natural gas supplies from Russia in the winter of 2023/2024.
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