FSUOGM - Former Soviet Union Oil & Gas
Ukraine boosts gas imports from Hungary, Slovakia as biomethane exports lag
Ukraine is ramping up natural gas imports from Hungary and Slovakia, bringing in 14.1mn cubic metres on February 7, up from 10.9 mcm the previous day.
Ukraine begins biomethane exports to EU as renewable energy ambitions grow
Ukraine has started exporting biomethane to the EU, marking a milestone in its renewable energy development.
Tengiz expansion poses challenge for Kazakhstan's OPEC+ compliance
The field is on track to produce 1mn bpd of oil this year, equivalent to 1% of global supply.
Russian oil and gas budget revenues up 17% in year despite toughest sanctions yet
Russia's oil and gas revenues increased by 16.9% year on year in January 2025, reaching RUB789.1bn.
Gazprom announces personnel changes
The move could signal the beginning of a sweeping corporate restructuring plan outlined by CEO Alexei Miller late last year.
European gas prices hit two-year high on colder weather
The surge is driven by a confluence of factors, including intensified demand as a result of colder weather, supply disruptions and weaker power generation from renewables.
Chevron accelerates expansion of Kazakhstan’s Tengiz oil field
Major oil spill at Oil Rocks as pipeline rupture leaks 300 tonnes daily into the Caspian Sea
Azerbaijan to invest $480mn in smart gas network management system
Azerbaijan is set to invest $480mn in the implementation of a Smart Gas Network Management System, aimed at enhancing efficiency and reducing gas leakages through artificial intelligence.
Fitch lowers SOCAR’s 2025 revenue forecast by 9.3%
Fitch Ratings has lowered its 2025 revenue forecast for SOCAR by 9.3%, projecting $45.94bn compared to an estimated $50.61bn in 2024.
BP spuds new well from seventh ACG platform off Azerbaijan
BP has started drilling a new production well from the Azeri Central East offshore platform in the Azeri sector of the Caspian Sea.
Russian oil flow to EU via Ukraine down 15% last year
A potential peace or at least a ceasefire deal may mean Hungary and Slovakia, the only two EU countries relying on Russian oil via Druzhba, may face less pressure going forward to abandon these imports.
Russian gas begins flowing to Slovakia via TurkStream
Russian natural gas has begun flowing to Slovakia via the TurkStream pipeline, Slovak newspaper Dennik reported on February 6, citing Vojtech Ferencz, chairman of the country’s national gas transmission system operator SPP.
Gazprom divests Austrian and Italian gas trading units to Dubai-based investment firm
Gazprom has sold its Austrian and Italian gas trading subsidiaries to Dubai-based investment firm EGH Gulf, established less than a year ago.
Europe's economic woes made worse by looming trade war with US, says Goldman Sachs
Cyclical industries across Europe are in danger from the economic slowdown sweeping Europe, Goldman Sachs warned in a note on February 4. They were already reeling from years of a polycrisis, but now President Trump is threatening a trade war.
Kazakh court fines Karachaganak operator $960,000 for lost state property
The Economic Court of Uralsk has ruled against Karachaganak Petroleum Operating (KPO), ordering the consortium to pay KZT543.19mn ($960,000) in damages following a lawsuit filed by Kazakhstan’s Ministry of Energy.
BP plans to drill 19 wells at ACG in 2024, expands investment outlook in Caspian region
BP plans to drill 19 wells at the Azeri-Chirag-Gunashli oil field in the Azerbaijani sector of the Caspian Sea in 2024, maintaining last year’s drilling pace.
Slovakia’s SPP begins importing Russian gas via TurkStream
Slovakia’s largest gas company, state-owned Slovensky plynarensky priemysel, is importing Russian gas via TurkStream pipeline.
Ukraine to import at least 1 bcm of gas by end-2025, minister says
Ukraine will need to import at least 1bn cubic metres of natural gas, and possibly more, before the end of 2025 to ensure adequate supplies for the next heating season.
Russian oil pump maker Borets could be nationalised
One of top three largest oil pump producers Russian Borets could be nationalised
Germany looks to repurpose Nord Stream 2 for green gas project
German authorities are considering re-tasking the Nord Stream 2 pipeline to deliver green hydrogen or natural gas from Finland.
Bulgaria’s president says the country still receives Russian gas
Bulgaria’s President Rumen Radev said on February 5 that Bulgaria continues to import Russian natural gas despite joining the EU-wide ban, Mediapool news outlet reported.
OPEC+ continues with production plan despite Trump’s demands
OPEC+ has decided to continue with its current oil production plans after a review meeting on February 2 despite calls from US President Donald Trump to lower crude prices.
US LNG exports stay near record high in January
US exports of LNG were near a record high in January, with the world’s largest exporter of the super-chilled fuel shipping 8.46mn tonnes.
Fico reiterates imports of Azeri gas are being debated
Slovakia’s populist Prime Minister Robert Fico reiterated that shipments of gas from Azerbaijan are being discussed following his talks in Brussels.
Data shows oil deliveries from Russia to Turkey hit record high in 2024
Oil deliveries from Russia to Turkey hit a record high in 2024, registering at 323,000 barrels per day (bpd), marking a 36% gain versus the previous record of 254,000 bpd set in 2022, according to data from analytics company Kpler.
Ukraine to import up to 3 bcm of gas in 2025 to cover shortages, ex-minister says
Ukraine will need to import 2-3bn cubic metres of natural gas in 2025 to address supply shortages, former Energy Minister Olga Buslavets said, as the country prepares for another year of energy challenges.
Europe's gas crisis is back with a vengeance
A year ago, many market watchers were warning that it was premature to say Europe’s gas crisis was over. Now it seems it is back with a vengeance.
Kazakhstan’s Tengiz field reportedly sees oil output surging to 870,000 bpd in late January
Oil production at Kazakhstan’s Tengiz field reportedly surged to a record 870,000 barrels per day (bpd) in late January, marking a 45% increase from the 2024 average.
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