FSUOGM - Former Soviet Union Oil & Gas
Russian government rules out extra priority to oil product delivery via rail
The Russian government sees no urgent need to give extra priority to the delivery of oil products by rail, Deputy Prime Minister Alexander Novak said on March 9.
Kazakhstan unveils plans to expand gas storage capacity
Kazakhstan intends to construct underground gas storage facilities between 2025 and 2029 to support the expansion of the country’s gas sector.
US reportedly rejects Canada's proposal to target Russian shadow oil fleet
The US has rejected a Canadian proposal to establish a task force aimed at preventing Russia’s circumvention of Western sanctions using its so-called "shadow fleet" of oil tankers.
TurkStream gas flow to Europe hits new record in February
The TurkStream, the last remaining pipeline flowing Russian natural gas to Europe, handled record volumes for another month in February, delivering 1.55 bcm.
Turkmenistan is trying to come out of its shell
Economic necessity is the mother of diversification.
Azerbaijan, EU and Slovakia discuss energy cooperation amid supply concerns
Azerbaijan participated in the first meeting of the European Commission-Slovakia Working Group on gas supply issues, held in Brussels, as Slovakia seeks to secure its energy needs.
Poland’s Orlen signs deal to supply Ukraine with LNG
The LNG will be transported from cargoes delivered to the LNG import terminal located in Klaipeda, Lithuania. The super-chilled fuel will then be transported through Lithuania and Poland before it reaches Ukraine via the Drozdovychi interconnector.
Mongolia expects Power of Siberia 2 pipeline talks to result in project going ahead
Mongolia still expects the Power of Siberia 2 pipeline project—which would deliver 50bn cubic metres of Russian gas per year to China via a route across Mongolian territory—to go ahead, according to the country’s economy minister.
Kyrgyzstan bans export of mineral ferts to non-EEU countries for six months
Kyrgyzstan has banned the export of mineral fertilisers to markets outside the Eurasian Economic Union (EEU) for six months with effect from March 3, according to a Cabinet of Ministers decree.
Vucic and Putin discuss US sanctions on NIS, new gas contact
Serbia, which maintains strong historical ties with Russia, has walked a delicate line between its allegiance to Moscow and its aspirations to join the EU.
Ukraine's gas reserves hit historic low, imports surge to 1.5-year high
Ukraine’s underground gas storage reserves fell to a historic low at the end of February, forcing the country to ramp up imports to their highest level in 1.5 years.
Turkmenistan president and Iraqi PM discuss gas supplies to Iraq
Turkmenistan's President Serdar Berdimuhamedov and Iraq's Prime Minister Mohammed Shia al-Sudani have discussed issues related to supplying Turkmen gas to Iraq through Iranian territory during a telephone conversation.
Eni withdraws from 50:50 JV in Kazakhstan
Italian energy major Eni has withdrawn from its 50:50 joint venture in Kazakhstan, Isatay Operating, which was exploring and developing the Abay offshore block in the northern Caspian Sea.
Kazakhstan’s Tengiz Future Growth Project set to enter commercial operation in 2Q25
Kazakhstan’s Future Growth Project (FGP) at Tengiz oil and gas field is set to enter commercial operation in the second quarter of 2025, with investment in the project reaching approximately $533mn this year.
Kazakhstan plans 12% m/m boost in oil exports via CPC in March
Kazakhstan plans to increase oil shipments via the Caspian Pipeline Consortium (CPC) export route that runs to the Russian Black Sea coast by 12% m/m in March.
Kazakhstan’s oil overproduction reportedly played decisive role in first OPEC+ output hike since 2022
Ukraine’s DTEK expected to sign LNG import deal by April
Ukraine’s biggest private energy firm DTEK is holding negotiations with a handful of suppliers over a two-year LNG import contract.
Russia’s Sakhalin LNG sees production dip by 2% in 2024
Russia’s Sakhalin Energy project experienced a 2% decline in LNG production in 2024.
Turkish branches of SOCAR and Siemens complete major modernisation of energy infrastructure on Petkim’s “petrochemical peninsula”
SOCAR Turkiye and Siemens Turkiye have completed a major project to modernise the energy infrastructure of the Petkim complex on the Aliaga “petrochemical peninsula” near Izmir. More than 500 specialists worked on the investment.
UAE, Bahrain reportedly ready to put initial $500mn into oil, gas and mineral E&P in Mongolia
Germany says not in talks with Russia on restarting Nord Stream 2, insists on independence from Russian gas
Turkey set to this week commence piped natural gas exports to Azerbaijan's exclave of Nakhchivan, says minister
Turkey is set to commence piped natural gas exports to Azerbaijan's exclave of Nakhchivan this week, according to Turkish energy minister Alparslan Bayraktar.
Baku oil refinery relocation under consideration, decision expected by 2030
According to Elshan Hacizade, head of the Industry and Energy Department of the Cabinet of Ministers of Azerbaijan, a decision on whether to relocate the Baku Oil Refinery could be made this year.
SOCAR implements AI-driven energy efficiency programmes
SOCAR has launched artificial intelligence-based energy efficiency programmes at its carbamide plant in Absheron as part of a pilot project.
Turkey’s Russian crude imports drop fourfold, following spike in Russian LNG imports
Turkey’s imports of Russian crude oil reportedly contracted 4fold in February following the January 10 US-led tightening of sanctions on Moscow’s energy exports that hit energy companies and more than 180 "shadow fleet" tankers.
Indian imports of Russian oil fall 15% in February to two-year low
India imported approximately 1.4mn barrels per day of crude oil from Russia in February 2025, marking a 14.9% decline from January’s 1.7mn bpd.
Europe sees further climb in gas prices in February, amid record storage withdrawals
European gas prices rose by 5% in February, reaching an average of $542 per 1,000 cubic metres, driven by record-high storage withdrawals and reduced wind power generation.
Serbia seeks new gas contract with Russia ahead of May deadline
Serbia is negotiating a new long-term gas contract with Russian energy giant Gazprom as it prepares for the expiration of its current three-year supply agreement in May 2025.
Kazakhstan in active talks on securing Russian gas supply
Kazakhstan’s energy ministry said on March 2 it is in active negotiations with Russia’s Gazprom on receiving up to 10 bcm of Russian gas annually to support the gasification of the country’s northern and eastern regions.
Russia increases subsidy for gas-powered trucks
The Russian government has decided to increase subsidies for truck owners transitioning from traditional fuels to natural gas.
US explores reactivating Nord Stream 2 as investors target Russian assets
The United States is working on a plan to restart the Nord Stream 2 gas pipeline as part of broader efforts to reset relations with Moscow and use energy as leverage in potential Ukraine peace talks.
Karachaganak operator to move forward with final investment decision on gas processing facility
Ukraine’s DTEK expected to sign LNG import deal by April
Ukraine’s biggest private energy firm DTEK is holding negotiations with a handful of suppliers over a two-year LNG import contract.
Russian gas production falls 3.1% in January
Russian natural gas production fell by 3.1% year on year to 64.8bn cubic metres in January 2025, marking the first annual decline in a month since mid-2023.
Bazhenov: Russia's answer to US shale oil
Bazhenov is vast, spanning some 1mn square km of Western Siberia, making it one of the largest unconventional oil-bearing formations in the world.
Russian LNG exports down 7.3% in January
Russia's LNG exports fell by 7.3% year-on-year to 5.1mn tonnes in the first two months of 2025, according to preliminary data from LSEG on February 28.
Russia extends petrol export permits for producers to August
The Russian government has extended petrol export permits for refiners and oil producers until the end of August 2025, according to Interfax.
Kazakhstan plans to boost oil export in 2025
Kazakhstan plans to increase its oil exports from 68.6mn tonnes in 2024 to 70.5mn tonnes in 2025, driven by the expansion of the Tengiz field, the country’s largest oil and gas operation, Kursiv reported on February 27.
TSX-listed Condor Energies increases Uzbekistan output to 12,004 boepd
Condor Energies increased its daily gas and condensate production in Uzbekistan to 12,004 barrels of oil equivalent per day (boepd).
Kyrgyzstan to commission new oil refinery in spring
Kyrgyzstan, seeking to cut its reliance on fuel imports, is set to commission a new oil refinery in Kadamjay district in the southwestern region of Batken in the spring, according to local media reports.
Azerbaijan and Somalia agree to boost cooperation in oil and gas exploration
Azerbaijan and Somalia have signed a Memorandum of Understanding (MoU) on oil and gas cooperation, marking a step towards closer energy ties.
Naftogaz secures Norwegian financing for gas purchases as private traders enter market
Ukraine’s state energy firm Naftogaz has secured external financing for gas imports, while private energy traders are also ramping up their involvement in the country’s energy supply.
Chevron appoints new Tengizchevroil managing director
Chevron is set to appoint a new managing director at Tengizchevroil (TCO), Kazakhstan’s largest oil producer, in which it holds a 50% stake and serves as operator.
Kazakhstan to integrate over 600 MW of renewable energy capacity in 2025
Kazakhstan has opened its rare earth and rare metal deposits to international competition, inviting companies from the US, the EU and China to bid for mining rights at government-held auctions, Kursiv reported on February 26, citing Kanat Sharlapaev.
Kazakh oil exports via CPC pipeline remain on schedule despite Ukrainian drone strike damage
Kazakhstan’s oil exports remain on schedule via the CPC pipeline running to the Russian Black Sea coast, despite recent damage caused to a key pumping station in Russia’s Krasnodar region following a Ukrainian drone attack.
ICC rules Gazprom must pay CZK1bn to Czech CEZ
Russian petrochemical major Sibur posts $2.2bn profit for 2024
Russian petrochemical major Sibur posted 8% year-on-year growth in IFRS revenues to RUB1.17 trillion, with EBITDA down by 2% y/y to RUB477bn and net income up by 16% y/y to RUB186bn ($2.2bn).
Russia and China remain rivals in the Arctic, and now the US is knocking at the door
Russia and China’s “no limits” partnership has strengthened considerably over the past three years. They have been driven together by the geopolitical clash between East and West. But there is one place they remain rivals: the Arctic.
KSE: Most of Russia’s shadow fleet operates outside Western insurance system
Tankers carrying Russian oil are significantly less likely to have IG P&I insurance, finds a new KSE Institute report.
Turkey negotiating to extend Turkmen gas supply deal to five years
Turkey is negotiating to extend its new agreement for gas supplies from Turkmenistan to a contractual length of five years, according to Turkish Energy Minister Alparslan Bayraktar.
Rosneft overtakes ExxonMobil to take fourth slot in global energy ranking
Russia’s biggest state-owned oil major Rosneft has overtaken ExxonMobil to take the fourth slot in the Energy Intelligence Top 100: Global NOC and IOC Rankings.
Ukraine’s gas production falls 40% after Russian strikes, imports to rise
Ukraine’s gas production has dropped by 40% following Russian missile strikes on its energy infrastructure, prompting the country to increase imports from Europe, officials said on February 24.
Kazakh industry experts express concern over naphtha, heating oil and marine fuel export bans
Kazakhstan’s ban on the export of naphtha, heating oil and marine fuel, introduced in January, has sparked concerns among industry stakeholders, who warn it could lead to the shutdown of mini-oil refineries and a potential diesel fuel shortage.
Intergas Central Asia reports fivefold increase in net profit for 2024
Intergas Central Asia, a subsidiary of Kazakhstan’s national gas operator QazaqGaz, has reported a fivefold increase in net profit for 2024, reaching KZT47.2bn ($95mn).
Transnistria raises energy prices as Russia replaces subsidies with loans
The authorities of the unrecognised pro-Russian separatist region of Transnistria in Moldova have decided to double natural gas prices and increase electricity prices by 50% for local consumers.
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