FSUOGM - Former Soviet Union Oil & Gas

Russia approves Far East liberalisation for hydro major RusHydro

The Russian government approved the gradual liberalisation of electricity and capacity prices for hydroelectric power plants in the Far East.

Hungary's MVM vows to cover domestic gas demand if Russian supply ceases

Hungary’s state-owned energy group MVM will be able to cover the country’s gas needs even if Russian imports cease.

Putin authorises sales involving Rosneft-Shell JV in Caspian Pipeline Consortium

Russian President Vladimir Putin has authorised potential transactions involving the joint Rosneft–Shell stake in the Caspian Pipeline Consortium.

Russia to triple gas exports to Kazakhstan by 2028

Rosneft oil cargo arrives in China after long detour

CPC oil exports to remain at half capacity until at least December 11 after drone strike

Kazakhstan’s Caspian Pipeline Consortium (CPC) will reportedly not be able to restore full export capacity until at least December 11.

Viktor Orban thanks Turkey for securing route for Russian energy exporters to Hungary

Western majors lobbying Ukraine to stop attacks on CPC oil export route, says analyst

Kazakhstan agrees new deal to pipe crude to China in response to drone raid that damaged Black Sea shipment terminal.

Bashkortostan plans to sell 6.4% stake in Russian regional oil major Bashneft

The government of Russian republic of Bashkortostan could start selling off its 25% in the regional oil major Bashneft controlled by Rosneft

Ukraine's Black Sea attacks may prove counter-productive

Ukraine’s extension of the conflict into the wider region risks fuelling tensions with its neighbours.

Russian LNG exports to EU soar in November despite looming ban

Russian LNG exports to the EU rose sharply in November as seasonal demand lifted imports, even as Brussels prepares to phase out Russian LNG under upcoming sanctions.

Moscow court rejects Dubai order in €7.5bn Wintershall dispute

A Russian arbitration court has ruled that orders issued by a Dubai court supporting Wintershall Dea's €7.5bn ($8.7bn) investment dispute with the Russian state breach fundamental principles of international law and cannot be enforced in Russia.

Russia sees sharp rebound in fuel oil exports in November

Russia sharply increased seaborne exports of fuel oil in the second half of November, offsetting a steep downturn earlier in the month as several refineries returned from planned and emergency maintenance.

Russia faces difficulties keeping Arctic LNG-2 gas flowing

The combination of climatic constraints, discounted sales and a shrinking pool of friendly terminals underscores Russia’s high cost of keeping sanctioned LNG flowing.

Orlen deepens energy cooperation with Ukraine as fuel conferences return to Kyiv and Warsaw

Polish energy group Orlen has strengthened its role as a key fuel supplier and strategic partner for Ukraine, as the region continues to grapple with challenges stemming from Russia’s ongoing invasion.

Three Kazakh senior managers at Batumi Oil Terminal detained on suspicion of selling undeclared crude

Three Kazakh citizens working as senior managers at Batumi Oil Terminal on the BlackSea coast in Georgia have been detained on suspicion of participating in a large-scale scheme to sell undeclared crude.

COMMENT: Putin's India visit concludes with multiple promises of deeper cooperation

While the two sides inked over 16 agreements, a clear pivot towards high-technology sectors, critical minerals, and joint manufacturing ventures dominated much of the agenda.

How Kazakhstan and Western oil major partners could take $27bn yearly hit from Ukraine’s drone attacks on Black Sea port

Moscow, on the other hand, might lose a mere $0.6bn annually, argues analyst.

Ukraine sells 20-year licence for Lviv-region gas field for $2.7mn

Ukraine has sold a 20-year licence for the development of a gas-bearing area in the Lviv region for UAH110mn ($2.7mn), with proceeds directed to the state budget and partly earmarked to support the US-Ukrainian Investment Fund for Reconstruction.

Kazakh oil output drops after CPC drone strike

Kazakhstan’s combined oil and condensate production reportedly fell 6% in the first two days of December after a Ukrainian drone attack damaged the Caspian Pipeline Consortium’s (CPC's) Russian Black Sea terminal.

Romania opts for supervision only of Lukoil refinery during ownership transfer

Romanian authorities will supervise but not manage operations at Lukoil’s Petrotel refinery while the Russian group seeks a buyer for the asset, an emergency ordinance adopted this week states.

Turkey extends expiring Russian gas import contracts by year, announces plans to invest in US gas production

Turkey has extended its expiring Russian gas import contracts by a year, energy minister Alparslan Bayraktar announced on December 4.

Turkey tells Russia, Ukraine to keep energy infrastructure out of war

Turkey has told Russia, Ukraine and all relevant parties to ensure energy infrastructure is kept out of the Russo-Ukrainian war, Turkish Energy Minister Alparslan Bayraktar said on December 4.

Ukraine’s Naftogaz lifts gas imports to 4.4 bcm since May, aims for 5 bcm by year-end

Ukraine’s state energy group Naftogaz has imported 4.4bn cubic metres (bcm) of natural gas since May and expects volumes to reach 5 bcm by the end of 2025.

Turkish shipowner halts Russia-linked operations after blasts off Senegal

Turkish shipping company Besiktas has suspended all operations connected to Russia after one of its oil tankers was damaged by multiple explosions near Senegal’s coast,

Caspian Sunrise secures two-year extension at Yelemes Deep estimation licence in Kazakhstan

Kazakhstan-based Caspian Sunrise announced on December 3 that it has secured a two-year extension to the Yelemes Deep estimation licence at the BNG Contract Area, enabling the company to restart work on the structure.

Kazakhstan’s petrochemical output expected to rise 9.2% y/y in 2025

Kazakh Energy Minister Yerlan Akkenzhenov has told a government meeting that Kazakhstan’s petrochemical industry production is expected to rise by 9.2% y/y to 589,700 tonnes in 2025.

Hungary to challenge EU plans to ban Russian oil and gas in court

Foreign Minister Peter Szijjarto says plan to ban EU member states' imports of Russian oil and gas from 2027 would "undermine Hungary's energy security".

Kazakhstan launches construction of alkylate plant

Kazakhstan has launched construction of an alkylate production plant in Kazakhstan’s Pavlodar Region.

Kazakhstan ships 225,000 tonnes of crude to Germany in November

Kazakhstan shipped 225,000 tonnes of crude to Germany via the Druzhba pipeline in November, maintaining the same level as in October.

Kazakhstan to raise crude shipments via BTC pipeline by 30% in December

Kazakhstan is set to raise its crude shipments through the Baku–Tbilisi–Ceyhan (BTC) pipeline by about 30% in December compared with November.

Slovak Economy Minister Saková claims Bratislava negotiated extension of Russian gas imports

Slovakia has a valid contract with Gazprom until 2034 and opposes EU plans to phase out Russian fossil fuel imports by 2027.

“Very scary” attacks on Black Sea tankers threaten safety of all in region, says Turkish foreign minister

"Very scary" attacks on Russia-linked tankers in the Black Sea threaten the safety of all in the region, Turkish Foreign Minister Hakan Fidan said on December 3.

Indian companies preparing technological equipment for Mongolia’s first oil refinery, first components reported ready for shipment

Russian oil exports reshuffled as non-sanctioned firms offset decline from Lukoil and Rosneft

US investment bank Goldman Sachs reports that the oil exports by Russia’s recently sanctioned energy giants, Lukoil and Rosneft, have fallen by 1.1mn barrels a day, while those of non-sanctioned companies are up the same amount.

Turkey in November sharply cut imports of Russia’s flagship Urals crude amid turning of sanctions screw

Tyre-burning greenhouses among those targeted in Tashkent-centred clean-up amid air pollution crisis

Uzbekistan is stepping up efforts to ensure greenhouses around the capital Tashkent run on clean or cleaner energy, given dirty emissions that have contributed to the city’s air pollution crisis.

Azerbaijan’s crude oil pipeline revenues fall 3.6% in January–September, gas transit income rises

COMMENT: Putin's India visit signals push for major overhaul in relations

In FY2024-25 Russia's bilateral trade with India was propelled almost entirely by New Delhi's voracious appetite for discounted Russian crude

New sea drone attack on ship sailing near Turkey reported, Ukraine claims Russia may have staged incident

A new sea drone attack on a Russia-linked ship off the Turkish coast was reported on December 2, but Ukraine denied involvement, claiming that Moscow may have staged the entire incident.

Surging US and Russian LNG exports push gas prices to 18-month low

LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent.

Poland emerges as regional gas hub on record 2025 transmission volumes

Poland is emerging as a regional gas hub after setting a new record for natural gas transmission in 2025. Gaz-System, the state-owned transmission system operator, is on track to deliver a record 20bcm this year.

IntelliNews Lambda: Europe’s gas storage is back to normal

LNG prices in Europe have dropped to their lowest levels in 18 months, thanks to surging supply and subdued demand across the continent. That has led to comfortably full gas tanks and the lowest deviation from the baseline in 15 years.

Profit of Russian Gazprom Neft down 37% in 9M25

Kazakhstan targets rise in gas output to 74 bcm by 2030

Kazakhstan plans to increase natural gas production from about 59bn cubic metres (bcm) in 2024 to roughly 74bcm by 2030.

Ukraine criticises Kazakhstan’s response after drone strike damages CPC terminal

Ozon and Wildberries plan to construct three large fulfilment centres in Kazakhstan as part of efforts to strengthen the country’s e-commerce logistics capacity.

BP reports on-schedule progress at Sangachal terminal electrification project

Construction works under the Sangachal Terminal Electrification (STEL) project are progressing safely and remain on schedule, BP Azerbaijan said.

Ukraine steps up strikes on Russian oil assets as peace talks gain momentum

Ukraine launched a record number of attacks on strategic Russian oil infrastructure in November, even as Washington works to advance a peace initiative aimed at ending the nearly four-year war.