FSUOGM - Former Soviet Union Oil & Gas
Russia-Africa summit lacks energy
Moscow sought to use the Russia-Africa summit in St Petersburg on July 27-28 to tout its strengthened ties with African countries in the face of Western sanctions and isolation, but the results were scant.
Gazprom outcompetes private firm in heated contest for Far Eastern exploration rights
Gazprom has beat private Russian firm YATEK in an auction for rights to the Suntarsky-1 and Gorny blocks in Yakutia, paying 11.6 times more for the rights than the contest’s opening price of RUB2.4bn ($26mn).
Yamal LNG output slumps in June
Natural gas production at the Yamal LNG project in June slumped by 35% year on year to nearly 2bn cubic metres, the Moscow-based Vedomosti newspaper reported on August 3, citing sources in the Russian energy ministry.
Russian gas pipe flow hits seven-month high in July
Russian pipeline gas flows to Europe surged to a seven-month high in July, largely driven by record deliveries through the European section of the TurkStream pipeline, according to data analysed by S&P Global Commodity Insights on August 2.
Russia’s budget back inside the 2% of GDP target after revenues surge in June
Russia’s budget went back into profit in May with a negligible gain, but in June revenues surged to a RUB815bn ($8.7bn) monthly surplus. That has shaved almost RUB1 trillion off the cumulative deficit and put it back inside the 2% of GDP target.
Nigeria eyes Russian energy tech, partnerships
Nigeria has expressed interest in acquiring Russian technologies in the oil and gas sector and attracting its companies to join oil and gas projects, Gabriel Aduda, the permanent secretary of Nigeria's oil ministry, said at the Russia-Africa summit.
SOFAZ assets to exceed $53bn by 2024 with an average oil price of $80 per barrel
SOFAZ assets stood at about $49bn at the end of 2022, implying an 8.4% growth in 2023. As of June 30, 2023, SOFAZ assets are estimated to be worth $54.9151bn, in light of lesser funding for planned expenditures.
Turkey gas hub still possible: Putin
The possibility remains that Turkey could still become a gas hub for Russian gas exports, Russian President Vladimir Putin stated recently during the Russia-Africa summit in St. Petersburg.
Ukraine to add 1.7 GW to its power system
Ukraine is planning to add 1.7 GW to its power system in preparation for the coming heating season, Ukraine Business News reported on July 31.
Unknown intermediaries continue their takeover of Russian oil trade
Western embargoes, price caps and other sanctions have resulted in the emergence of numerous little-known trading companies handling significant quantities of Russia’s oil exports, despite having no prior record in the oil industry.
Turkmenistan: Watched over by CCTVs of loving grace
Europe's elusive pipeline, Gulf investment, Korean lobbying and a new ghost town.
Exiting Russia is prove increasingly difficult, says Wintershall Dea head
Wintershall Dea’s CEO Mario Mehren said on July 27 that "new obstacles to exit are being created on a daily basis," in a call to discuss his company's second-quarter financial results.
ASX-listed TMK Energy announces gas flow surfacing at Gurvantes XXXV coal-seam project in Mongolia
Asian oil demand will lead to “serious problems” in the second half of the year, says IEF
With China having imported record-breaking amounts of Russian oil during the first six months of the year and demand from India increasing at a similar breakneck speed, The IEF's Joseph McMonigle says that oil markets will have “serious problems".
Russia refuels ship with biofuel for first time
State-owned Gazprom Neft reported on July 20 that its marine fuels business, Gazpromneft Marine Bunker, refuelled the ship in St Petersburg. The operation was carried out jointly with fast food chain Vkusno i Tochka and another firm called Ecoway.
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