FSUOGM - Former Soviet Union Oil & Gas
FDI flow from China to Eurasia is ebbing
Lots of talks, but no new deals are being announced.
Russian refining runs recover after drone strikes
Russia’s oil refining sector has recovered from disruptions caused by a series of Ukrainian drone strikes earlier this year, with throughput picking up in the second half of February.
Petrofac bags $200mn contract at Turkmenistan's Galkynysh field
UK oilfield services company Petrofac has secured a $200mn operations contract from Turkmenistan’s state-owned Turkmengas for work at the Galykynish gas field in the east of the Central Asian country.
Gazprom seeks $934mn in damages from Polish companies
Russia’s Gazprom is looking to recover $934mn in damages from Polish companies Europol Gaz and Orlen, as well as consulting firm Ernst and Young, at an arbitration court in St Petersburg.
Germany extends trusteeship over Rosneft assets
The German ministry has extended its trusteeship over the assets in the country belonging to Rosneft for a third time, giving the Russian state oil producer more time to seek a sale.
Uzbekistan pays only $160 per 1,000 cubic metres for Russian gas
Russia’s Gazprom sold gas to Uzbekistan for only $160 per 1,000 cubic metres in 2023 – significantly less than the price it charges China and Turkey, and what it used to charge to European customers.
Kazakhstan to increase oil exports to Germany
Kazakhstan can raise crude oil supplies to refineries in Germany to 2mn tonnes per year in 2024.
KazTransOil ships 100,000 tonnes of oil to Germany
SOCAR and KazMunayGas intend to gradually increase the transit of Kazakh oil through BTC
President of the State Oil Company of Azerbaijan (SOCAR) Rovshan Najaf on March 9 held a meeting with the chairman of the board of KazMunayGas (KMG), Magzum Mirzagaliyev.
LSE-listed Petrofac wins $200mn services contract to provide for Turkmenistan’s Galkynysh gas field
Czech Net4Gas faces a fine of €113mn in Russia
Gazli Gas responds to reports on Uzbekistan project, refutes any suggestion sanctioned individuals are involved
Statement explains restructuring that transferred Russian firm’s controlling stake in company to Hong Kong entity.
Turkish oil terminal refuses imports of Russian oil
Turkey’s Dortyol oil terminal – located in the Mediterranean Sea – has stopped accepting Russian oil as pressure from US sanctions increases.
Kazakhstan’s LPG consumption up 28% y/y in 2023
Turkey signs MoU to transport Turkmen gas to Europe
Turkey and the Central Asian state of Turkmenistan last week signed a memorandum of understanding regarding the transport of Turkmen gas across Turkey to Europe and a letter of intent for cooperation in the field of natural gas.
Major Uzbek gas storage expansion project linked to Russian “stoligarch” and Putin friend Timchenko
News investigation also sheds light on involvement of Uzbekistan energy tycoon Bakhtiyor Fozilov. Russia plans to up gas deliveries to Central Asian nation fivefold.
Azerbaijan eyes gas exports to Albania in 2025-26
The start of gas flow to Albania will become possible after the capacity of the Trans-Adriatic Pipeline is expanded by the end of 2025 from 10 to 11.2bn cubic metres per year, according to the ministry.
OPEC+ members roll cuts up until mid-year
The oil-producing group will maintain its current output quotas for another three months at least despite geopolitical uncertainty continuing to prop up oil prices
Kazakh court reinstates $5bn fine against Kashagan developers
The consortium developing Kazakhstan’s largest offshore oilfield, Kashagan, has had a $5bn environmental fine reinstated by an appeals court in Astana.
Fossil fuels needed "for foreseeable future", says Azeri leader
Azeri President Ilham Aliyev has said his country is committed to the energy transition, but has stressed that the world will continue to need fossil fuels for the foreseeable future.
Ukraine open to Russian gas transit until 2027
Ukraine's Gas Transmission System Operator (GTSOU) has expressed readiness to facilitate the transit of Russian gas to Europe through its territory until 2027, despite pledges from European countries to phase out such arrangements by that year.
Kazakhstan boosts oil exports by 9.6% y/y in 2023
Russia's Tula region approves small-scale LNG project
The government of Russia’s Tula region has approved the inclusion of a Novatek project to build a small-scale LNG production plant in the Uzlovaya special economic zone.
Russia enjoys 40% bump in oil and gas revenues in February
Oil and gas sales generated 40% more for Russia’s federal budget in February versus in the previous month, with proceeds coming to RUB945.6bn.
Russian gas production sees recovery this year
Russian production of natural gas, including associated petroleum gas (APG), rose in January by 6.7% year on year to 65.1bn cubic metres.
Gazprom seeks buyer for three European assets
Russia’s state-owned gas giant Gazprom has put three of its foreign assets up for auction for €344mn.
SOFAZ revenues from the sale of profitable oil and gas from ACG and Shah Deniz in January-February amounted to about $1bn
Receipts to the State Oil Fund of Azerbaijan (SOFAZ) from the sale of profitable oil from the Azeri-Chirag-Gunashli (ACG) block and profitable gas and condensate from the Shah Deniz field in January-February 2024 amounted to $940.5mn.
Follow us online