FSUOGM - Former Soviet Union Oil & Gas

Azerbaijan oil output falls 3.9% y/y in nine months as Azeri Light trades at $119

Azerbaijan's crude oil and gas condensate output reportedly fell 3.9% year on year to 19.86mn tonnes in January-September, while Azeri Light traded at $119.04 a barrel.

Uzbekistan signs $4.7bn of energy deals, names Saida Mirziyoyeva to tackle investor hurdles

Uzbekistan has signed six energy project agreements worth a combined $4.7bn, covering 3,000 megawatts (MW) of new power generation and 400 MW of energy storage, according to the presidential press service.

Ukraine builds gas stocks to 16bn cubic metres as exports resume

UK-based Nostrum Oil & Gas completes $304.6mn sale of Kazakhstan operations

UK-based Nostrum Oil & Gas (LON: NOG) has completed the sale of its Kazakhstan operations for $304.6mn and fully redeemed its Senior Secured Notes due in 2026, marking the end of nearly three decades of operating activity in the country.

US has not eased sanctions on Russian oil, energy secretary says

The US has not relaxed existing sanctions on Russian crude oil, with recent exemptions applying only to diesel supplies.

Russia's diesel production capacity double domestic demand, Novak says

Russia has sufficient diesel production capacity to meet domestic demand and maintain exports despite ongoing refinery disruptions caused partly by Ukrainian drone attacks.

Russia considers LPG export ban to ease domestic fuel shortages

Russia is considering banning exports of LPG by non-producers until the end of 2026, as the government seeks to bolster domestic fuel supplies amid continued refinery disruptions.

Russia’s RusGazDobycha transfers 49% stake in HMS Group to CEO

Hydromash MSK, a company established by Molchanov in April 2026, acquired the stake in Hydroindustria on October 14.

Russia expects Power of Siberia gas exports to China to reach 39 bcm in 2026

Russia expects to deliver 39 bcm of natural gas to China through the Power of Siberia pipeline in 2026.

US urges Europe to resume Russian gas imports as part of Ukraine peace deal

The US administration has proposed that European countries resume large-scale imports of Russian natural gas as part of a potential agreement to end the war in Ukraine.

Russia prepares tax incentives as hard-to-recover oil reaches 63% of production

Russia is preparing new tax incentives to stimulate the development of hard-to-recover oil and gas reserves, which are becoming increasingly important to maintaining domestic hydrocarbon production.

US extends sanctions exemptions for Lukoil's overseas assets until April 2027

The US has extended sanctions exemptions allowing Lukoil to continue operating its overseas fuel retail network and Bulgarian refining assets until April 24, 2027.

EU weighs strategic gas reserves as storage crisis exposes market weaknesses

Brussels is considering strategic gas reserves as low storage levels and disrupted LNG supplies expose Europe's vulnerability to future energy crises.

Ukrainian drone strike reportedly hits Gazprom condensate plant in Western Siberia

A Ukrainian drone attack sparked a fire at an industrial facility near Surgut in Russia's Khanty-Mansiysk region on October 16, with independent reports identifying the target as a major Gazprom gas condensate processing plant.

Russia, Indonesia discuss Northern Sea Route trial voyage in 2027

Russia and Indonesia are discussing a pilot shipment along the Northern Sea Route (NSR) in 2027, as Moscow seeks to attract more Asian cargoes to the Arctic shipping corridor.

Trump puts sweeping Russia sanctions on hold as energy crisis takes priority

Trump has suspended sweeping new sanctions against Russia as soaring energy prices increasingly take precedence over efforts to pressure Moscow.

Russia extends refinery modernisation deadlines amid Ukrainian drone attacks

Russia has extended the deadline for oil refinery modernisation agreements by one year to July 1, 2027, as Ukrainian attacks continue to disrupt the country's refining industry and force operators to prioritise repairs over upgrading facilities.

Ukrainian drone attack sets St Petersburg oil terminal ablaze

A large-scale Ukrainian drone attack on St Petersburg and the surrounding Leningrad region on October 18 sparked fires at a major oil export terminal and storage depot.

Azeri Light falls 3% to $124/b as gas output reaches 37.9 bcm

The price of Azerbaijan's Azeri Light crude fell $3.73, or 2.91%, to $124.14 a barrel on the global market, according to a cited market source.

Kazakhstan analysts raise oil price forecasts and lower inflation outlook through 2028

The Kazakh central bank's latest macroeconomic survey saw analysts raising their forecasts for Brent crude prices and lowering their inflation expectations for Kazakhstan through 2028, while projecting economic growth of 4.8% this year.

Researchers link suspected Kazakhstan-based hackers to Russian oil refinery cyberattack

A hacking group believed to be operating from Kazakhstan reportedly targeted a Russian oil refinery and a municipal government network earlier this year.

Kazakhstan forecasts around $8.4bn in oil revenues for 2027

Kazakhstan expects to receive KZT 3.78 trillion tenge ($8.38bn) in oil-sector revenues for its National Fund in 2027, down by KZT 342bn from the 2026 estimate, following the first-reading approval of the draft republican budget for 2027-2029.

Uzbekistan strikes high-pressure gas flow at new Ustyurt well

Uzbekistan’s state-owned Uzbekneftegaz has recorded a high-pressure natural gas flow at a newly drilled well in northwestern Uzbekistan, with initial tests indicating a daily output of up to 500,000 cubic metres.

Trump’s energy truce proposal draws criticism as Russian strikes continue

Donald Trump’s proposal to halt attacks on oil refineries has drawn criticism in Ukraine, where analysts say the arrangement could favour Russia while leaving Ukrainian electricity infrastructure and civilians exposed to continued Russian strikes.

Kazakhstan weighs $500mn exploration consortium with Chevron, Shell and Chinese oil firms

Kazakhstan is in talks with US, British and Chinese oil companies to establish a consortium for geological exploration, with preliminary investment estimated at around $500mn.

Russia’s Lukoil plans offshore surveys for two Caspian oil and gas developments in 2027

Russia's Lukoil plans to conduct offshore engineering surveys at two oil and gas fields in the Caspian Sea during 2027, advancing preparations for new production infrastructure in the Russian sector of the basin.

Damaged Aframax Rio oil tanker spotted near Novorossiysk amid pollution concerns

The Liberian-flagged oil tanker Aframax Rio, damaged in a maritime drone attack off Russia's Black Sea coast last week, has been spotted near Novorossiysk amid growing concerns about possible oil pollution.

Russia partially lifts diesel export ban following Trump-Putin agreement

Russia has partially lifted its ban on diesel exports, allowing an initial 500,000 tonnes of fuel to reach international markets following an agreement between Russian President Vladimir Putin and US President Donald Trump.

Moscow gas pipeline construction reaches 90% completion

Construction of a new high-pressure gas pipeline in western Moscow is 90% complete, with the project expected to strengthen gas supply reliability and accommodate future demand.

Kazakhstan’s KazTransOil raises oil transport by 4% in Jan-Sept

Kazakhstan's national oil pipeline operator KazTransOil increased crude transportation through its trunk pipeline network by 4% year on year to 34.392mn tonnes (approximately 923,000 barrels per day) in January–September 2026.

Carlyle withdraws from Russian oil firm Lukoil’s asset sale as US-backed bidders emerge

US private equity firm Carlyle Group is no longer actively pursuing the acquisition of Russian oil producer Lukoil's international assets.

Trump's energy ceasefire announcement raises more questions than answers

Trump's claim of a Russia–Ukraine energy ceasefire remains unsubstantiated, raising concerns that a narrower deal could benefit Moscow more than Kyiv ahead of winter.

Moldova seeks cheaper gas through long-term supply contracts with Ukraine

Moldova plans to discuss long-term natural gas supply contracts with Ukraine in a bid to secure lower prices and reduce transportation costs.