FSUOGM - Former Soviet Union Oil & Gas

Tatneft revenue up 11.3% in 2023 to $17.3bn

Azerbaijan sees 11.2% decline in oil exports and 13.1% drop in revenue in early 2024

Exports of declared oil from Azerbaijan in January-February 2024 amounted to 4.595mn tonnes, which is 11.2% lower than the figure for January-February 2023, the State Customs Committee (SCC) said.

Azerbaijan's gas exports surge to 3.95 bcm in early 2024; EU imports up 9.4%

In the initial months of 2024, Azerbaijan experienced a remarkable 230% growth in gas exports. According to the State Customs Committee, gas exports soared to 3.95 bcm, up from the comparative period in 2023, comprising 30.54% of Azerbaijan's total.

KazTransOil ships 232,000 tonnes of oil to Baku-Tbilisi-Ceyhan pipeline in 2M23

Azerbaijan increased production of petrol by 14.8% and diesel by 7.8% in January-February

Net profit at KazMunayGas drops 30% in 2023

An FT Investigation shows that insurance policies for Russia’s shadow fleet of tankers have a sanctions get-out clause

Russian oil tankers in the extensive shadow fleet are reportedly bypassing Western sanctions by using questionable insurance coverage, according to leaked documents seen by the Financial Times, the paper reported on March 15.

FSUOGM: Russian refining runs recover after drone strikes

Kazakhstan’s giant Tengiz oil field expansion sees rising costs of $1.5bn

Azerbaijan's SOCAR repays US bank loan early amid new financing from Russia's Lukoil

India's reduced Russian crude imports signal shifting energy alliances

Amid escalating Western sanctions, India scaled back its procurement of Russian crude in February, exacerbating trade strains between the two nations.

Ukraine strikes Russian refineries in major assault, fuel prices surge

According to the SBU, on the night of March 13, coordinated drone strikes hit three major Russian oil refineries located in Ryazan, Kstovo (Nizhny Novgorod region).

US produced more oil in 2023 than any country for sixth consecutive year

The US produced more oil than any country at any time for the past six years in a row, according to the US Energy Information Administration.

South Korea makes big reduction in Russian fossil fuel imports

South Korea has made significant progress in reducing its energy dependence on Russia since the start of the Ukraine war, according to a report published recently in the Asia-Pacific journal The Diplomat.

Russian oil refineries set ablaze in second day of Ukrainian attacks

Relentless attacks on Russian refineries have led to widespread disruptions in the nation's energy supply chain.

Drone attacks put more pressure on Russian oil refining

Azerbaijan boosts gas production and exports in early 2024

Azerbaijan reduced oil production by 5.9% and exports by 4.9% in January-February

Iraq in talks with Iran to get Turkmenistan gas via Iranian pipeline

Iraqi Electricity Minister Ziad Ali Fadel said his country was in talks with Iran to use its pipelines to import natural gas from Turkmenistan.

Ukraine incurs losses in Russian gas transit, Naftogaz chairman reveals

Naftogaz of Ukraine, the national energy company, is grappling with substantial losses stemming from the transit of Russian gas through its infrastructure, according to Oleksiy Chernyshov, the chairman of Naftogaz's board.

Kazakhstan to re-auction two blocks after previous winners fail to pay bids

EAEU common gas market faces challenges as member states struggle to reach consensus

Azerbaijan to increase the transit of Kazakh oil via the BTC oil pipeline to 2.2mn tpy

The State Oil Company of Azerbaijan (SOCAR) and Kazakhstan's KazMunayGas (KMG), following the results of high-level negotiations, signed two documents on March 11 in Baku.

SOCAR establishes a "green" daughter company

The State Tax Service (STS) of Azerbaijan registered SOCAR Green LLC (a subsidiary of SOCAR) with an authorised capital of $16.5mn.