FSUOGM - Former Soviet Union Oil & Gas

Ukraine and Romania in early talks on Black Sea gas development

Naftogaz is in early-stage discussions with OMV Petrom over the potential joint development of a gas field in the Black Sea, in a move that could bolster regional energy security once the war ends.

KazTransOil expects to export 474,000 tonnes of crude via CPC in March

Kazakhstan’s state pipeline operator KazTransOil (KZ: KZTO) said it expects to export 474,000 tonnes of crude via the Caspian Pipeline Consortium (CPC) pipeline that runs to Russia's Black Sea coast in March.

Swiss court upholds Naftogaz victory over Gazprom in $1.4bn dispute

Naftogaz has secured a decisive legal victory against Gazprom after the Federal Supreme Court of Switzerland rejected Moscow’s attempt to overturn a multibillion-dollar arbitration ruling.

TotalEnergies targets first gas from Absheron Phase 2 in 2029

TotalEnergies plans to begin production from the second phase of the Absheron gas-condensate field offshore Azerbaijan on September 1, 2029.

Europe buys Russia’s entire share of Yamal LNG exports in February

Europe bought every single shipment of LNG produced by Russia’s Yamal LNG plant in February -- first time since April 2018 that the EU accounted for 100% of exports from the Arctic facility.

First gas from Absheron full field development planned for September 2029

First gas production under the Full Field Development project of Azerbaijan’s Absheron gas-condensate field is planned for September 2029, according to TotalEnergies Absheron B.V., one of the companies involved in the project.

Ukraine’s Naftogaz reportedly approaches OMV Petrom for Black Sea offshore gas partnership

Ukraine’s state-owned energy company Naftogaz is in early-stage talks with Romania’s OMV Petrom (BVB: SNP) over a potential partnership to develop an offshore gas field in the Black Sea.

World Bank to fund fixes across Uzbekistan's leaky gas grid

Uzbekistan has secured a $10.6mn World Bank grant to finance the fixing of leaks plaguing the country's ageing gas network.

Kyrgyzstan accuses fired national security chief Tashiyev of major corruption

‘People’s general’ was last month suddenly fired by president, who has since mounted a wide-ranging purge of his allies.

Azerbaijan plans major ramp-up in gas, power exports

Damaged Russian LNG ship reported as still afloat

A Russian LNG carrier damaged in an apparent drone boat attack earlier this month is drifting in the central Mediterranean but remains afloat.

Another Russian Arc7 begins sea trials

Russia’s newest ice-class LNG carrier, the Arc7 tanker Konstantin Posyet, has likely begun sea trials.

US allows Russian oil to flow amid Hormuz crisis

The US has temporarily authorised transactions involving Russian oil already loaded onto tankers, allowing sales of the cargoes until April 11 amid supply disruptions linked to the conflict in the Middle East.

Discounts on Russia’s Urals blend oil fall to zero

Russia is poised to reap a major financial windfall from rising global oil prices due to the war in the Gulf, after the discounts on the Urals blend of oil fell to zero in the last week

Swiss court upholds Naftogaz's $1.3bn claim against Gazprom

Dispute stemmed from a 2019 agreement between Gazprom and Naftogaz governing the transit of Russian natural gas through Ukraine.

Why Europe's gas price cap plan will backfire

Brussels is again considering a cap on gas prices to shield consumers from soaring energy costs, but the policy risks weakening Europe’s ability to attract LNG cargoes just as the bloc faces a difficult storage refill ahead of next winter.

Greek tanker set to load Kazakh oil hit by object near CPC terminal

A Greek-flagged oil tanker, the Maran Homer, was reportedly struck by an unidentified object early on March 14 while it awaited instructions on entering the Caspian Pipeline Consortium (CPC) terminal at the Russian Black Sea port of Novorossiysk.

Mongolia to rely on Russia for all petroleum product imports amid China ban on shipments

All of Mongolia’s imported petroleum products will come from Russia this year as China has banned such shipments, according to Mongolian Vice Minister of Industry and Mineral Resources Begzsuren Enkhtuvshin.

Gazprom presses on with major Arctic gas project despite loss of European market

Gazprom is pressing ahead with development of the giant Kharasavey gas field on the Yamal Peninsula even as the collapse of exports to Europe leaves the company searching for new markets for its Arctic gas.

US sanctions easing on Russian oil deepens rift with Europe amid energy shock

A decision Trump to ease some sanctions affecting Russian oil exports has triggered sharp criticism from European allies, exposing growing divisions within the West over how to balance pressure on Moscow with stabilising global energy markets.

Output at largest Kazakh oilfield Tengiz rises to 810,000 bpd on March 11

Oil production at Kazakhstan’s largest oilfield, Tengiz, reportedly rose to around 810,000 barrels on March 11, but average output during the first 10 days of the month remained below expectations,

Uzbekistan orders sale of Enter Engineering, Eriell and Saneg assets partly to cover $131mn in wage arrears

Fitch upgrades its oil price outlook to $70

Oil markets are facing renewed geopolitical uncertainty after the outbreak of conflict involving Iran and the effective closure of the Strait of Hormuz, prompting rating agency Fitch to revise its near-term energy price outlook upwards.

Russia pockets €6bn in fossil fuel revenues in first two weeks of war

Russia has pocketed over $6bn of excess revenues in just the first two weeks of war in Iran, the Centre for Research on Energy and Clean Air said.

IEA agrees record release of 400mn barrels from emergency oil reserves to counter Gulf War impact

The IEA agreed on March 11 to release a record 400mn barrels from emergency oil reserves, dwarfing its 2022 Ukraine-linked release, as Iran's closure of the Strait of Hormuz and attacks on Gulf energy infrastructure drive prices higher.