FSUOGM - Former Soviet Union Oil & Gas
Fertilizer, petrochemical and gas plant commitments high on agenda as Korea’s president Yoon visits Turkmenistan
Baku and Astana negotiate boosting transit of Kazakh oil via Azerbaijan to 5mn-7mn tonnes
SOCAR Trading expands role in carbon quotas and European hydrocarbon supply
SOCAR Trading, the marketing arm of the State Oil Company of Azerbaijan Republic (SOCAR), is advising SOCAR and AzerEnergy on forming carbon quota portfolios and selecting equipment to reduce greenhouse gas emissions.
SOCAR aims to boost oil recovery and standardise operations in the Caspian Sea
SOCAR (State Oil Company of Azerbaijan Republic) plans to increase the oil recovery factor at the Azeri-Chirag-Gunashli (ACG) oil field block, vice president Babek Huseynov announced at the 29th Baku Energy Forum.
Total Energies expects higher yield from the Absheron gas field
TotalEnergies JV and Development Director Jason Fish have revealed that the Caspian Absheron field in Azerbaijan has significant potential for increased gas and condensate production.
Gazprom’s business will take at least a decade to recover from the impact of the Ukraine war
The business of Russian gas giant Gazprom will take at least a decade to recover losses incurred from Moscow's full-scale invasion of Ukraine, according to a report commissioned by the company released on June 5.
OPEC+ extends cuts, to unwind voluntary limits
OPEC+ has extended most of its cuts through 2025, but will begin to unwind voluntary additional restrictions
Kazakh government retakes control of $66mn oil terminal associated with father of Nazarbayev’s son-in-law
Kazakh oil output reportedly down 6% in May
Aliyev opens Baku Energy Week
Azerbaijani President Ilham Aliyev inaugurated the 29th International Caspian Oil & Gas Exhibition and the 12th Caspian International Power and Green Energy Exhibition as part of Baku Energy Week at the Baku Expo Centre on 5 June.
Hungary's MVM acquires stake in Shah Deniz gasfield
Acquiring a stake in this gas field "provides us with protection against significant energy price fluctuations", says Hungarian Foreign Minister Peter Szijjarto.
Hungary’s MVM Group acquires 5% stake in Shah Deniz gasfield in Azerbaijan
The 5% stake would translate into an annual supply of 1.5 bcm of natural gas for Hungary.
Azerbaijan and Kazakhstan discuss potential use of Baku-Supsa pipeline for Kazakh crude exports
Azerbaijan and UAE's Masdar sign agreements for three major renewable energy projects
During Baku Energy Week, the State Oil Company of Azerbaijan (SOCAR) and the United Arab Emirates Masdar company signed Shareholder Agreements for three renewable energy projects.
SOCAR reports 9.2 bcm of gas production at Umid field since 2012
Umid gas-condensate field, located in the Azerbaijani sector of the Caspian Sea, has produced 9.2 bcm of gas from its commissioning until 1 May, 2024.
Proposed EU sanctions on Russian LNG unlikely to affect Asian buyers
Europe’s proposed new sanctions package aimed at combatting transshipments of Russian LNG is not expected to impact Asian purchasers, European Commissioner for Energy Kadri Simson told reporters in Tokyo June 3.
Turkey, Azerbaijan agree extension to gas supply contract, strike deal on piping of Turkmen gas
Power of Siberia 2 talks reportedly in deadlock over Beijing's demands on prices, supply volumes
Negotiations between China and Russia on developing a second Power of Siberia gas pipeline are in deadlock because Beijing is making demands on price and supply levels that Moscow views as unreasonable.
Arctic LNG-2 could get first Russian-built LNG carrier this year
Russia’s top LNG exporter Novatek could receive at least one domestically produced Arc7 ice-breaking LNG carrier this year, helping ease its constraints with shipping capacity because of sanctions.
Rosneft profits soar on higher revenues
Unlike its domestic rival Gazprom, Rosneft has low debt, strong profits and is continuing to pay dividends to the Russian state.
Argus launches price assessments for Urals delivery to China
Energy and commodity price reporting agency Argus has launched new prices for Russian Urals oil that is supplied to China.
Russian gas pipeline flow rises further in May
Russian pipeline gas flow to Europe rose by 7.3% month on month in May and was 39% higher than the same month last year.
European prices spike on Norwegian outage
EU reportedly mulls sanctions on Russian tanker insurer
The European Commission is considering sanctions proposed by one member status on Russian insurance company Ingostrakh, a provider of coverage for tankers carrying Russian crude.
SOCAR Turkey denies allegations of oil sales to Israel
The recent allegations against SOCAR Turkey, a subsidiary of the State Oil Company of Azerbaijan (SOCAR), regarding the sale of crude oil to Israel are unfounded and misleading, the company announced on June 3.
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