FSUOGM - Former Soviet Union Oil & Gas

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Oil & Gas

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Overview

Russia and the other former Soviet republics are often viewed as remote and obscure, but FSU OGM sheds light on the vital role these countries play in world energy markets. It explains the region's status as a key player in the EU's energy planning, while also focusing on the progress of efforts to expand deliveries to Asia.

Leading commentaries in recent years have covered the economic consequences of political unrest in Ukraine, efforts to open the Southern Gas Corridor between the Caspian Sea Basin and the EU, competition between Russia and Central Asia for access to the Chinese gas market and the continued rise in Russian liquids production.

Our journalists on the ground have a wealth of local experience and are proficient in Russian and other languages in Central Asia, allowing us to provide an unparalleled level of industry coverage.

FSUOGM is a fully digital publication and can be read via PDF, PageSuite or via our NewsBase App.

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Kazakhstan cuts oil output, threatens legal action over CPC strikes

24 July 2026

Kazakhstan temporarily cut oil production after loading was suspended at the Caspian Pipeline Consortium's (CPC) marine terminal in Novorossiysk, Russia, its energy ministry said on July 23, days after issuing a formal demand for Ukraine to halt dron

Russia's Novatek reports 9% dip in H1 earnings despite higher revenues and production

24 July 2026

Finam analyst Sergey Kaufman attributed the EBITDA decline largely to the pricing structure of Yamal LNG’s long-term contracts, which are predominantly linked to oil prices with a lag of six to nine months.

Kazakhstan's KMG strikes deals with US engineering firm KBR to design first Kazakh SAF plant

24 July 2026

The agreements formalise the project’s move into the engineering phase and establish the technological and legal framework needed before construction can proceed.

Azeri private oil firm makes first foray into US upstream sector

24 July 2026

The company said it was the first private Azerii group to own and operate upstream assets in the US.

Azerbaijan. China deepen green energy cooperation as senior officials meet Beijing delegation

24 July 2026

Azerbaijan's economy minister Mikayil Jabbarov and energy minister Parviz Shahbazov held separate meetings this week with Yang Tianfu, president of PowerChina Resources Limited.

Kazakhstan cuts oil production after drone attacks cause CPC export disruption

24 July 2026

Kazakhstan has temporarily reduced oil production after a series of drone attacks forced the suspension of export loadings at the Caspian Pipeline Consortium (CPC) terminal on Russia's Black Sea coast, says a report.

Russia's gas queues start to ease, but the fuel crisis is far from over

23 July 2026

Ukraine's drone campaign against Russian refineries has made the country's refining sector a strategic liability for the Kremlin, and the resulting fuel crisis has pushed Russian refining to record lows even as LNG exports to Europe hit record highs.

Russia restores under half of drone-hit refining capacity

23 July 2026

Russian oil companies have brought back less than half of the refining capacity knocked out by Ukrainian long-range drone strikes, leaving facilities with a combined capacity of about 45mn tonnes a year still offline, industry data showed this week.

Brent tops $100 as Houthi strikes on Saudi tankers threaten Red Sea route

23 July 2026

Brent crude broke $100 a barrel on July 23 for the first time since May 26 after Houthi forces struck two Saudi tankers in the Red Sea, threatening the export route Riyadh has used to bypass the closed Strait of Hormuz.

Japan doubles oil imports in June

23 July 2026

Middle Eastern deliveries rose to around 1.2mn bpd from just over 800,000 bpd in May, but remained 40.6% lower year on year.

EU backs 21th sanctions package on Russia, targeting banks, oil trading and cryptocurrency

23 July 2026

EU ambassadors agreed a 21st sanctions package against Russia on July 23, targeting more banks, oil trading and cryptocurrency networks and vessels supporting Moscow’s oil exports.

Former Uzbekneftegaz boss goes on trial as billionaire Fazylov's energy empire unravels

23 July 2026

The trial of former Uzbekneftegaz chairman Bahodir Siddiqov deepens scrutiny of state energy contracting as Bakhtiyor Fazylov’s once-dominant business empire continues to unravel.

Russia's Rosneft unsurprisingly bullish on global oil and gas demand growth

23 July 2026

Global oil demand will rise by 16% and natural gas consumption by 37% between 2023 and 2050 under the base-case outlook of Russian oil giant Rosneft. Growing energy use in developing economies more than offsetting declines in advanced countries.

Azerbaijan's crude oil exports to Italy and Germany fall in H1 2026

23 July 2026

Azerbaijan exported 5.92mn tonnes of crude oil to Italy in the first six months of 2026, worth $3.5bn, while shipments to Germany totalled 360,299 tonnes worth $210.86mn, according to the State Customs Committee.

Kyrgyzstan signs $25mn deal for mini oil refinery as Russian supply disruptions expose fuel vulnerability

22 July 2026

Kyrgyzstan has signed a $25mn investment agreement with Central Asian Energy LLC for a mini oil refinery in Kochkor-Ata in Jalal-Abad region, as the country moves to expand domestic refining capacity amid disruptions to Russian fuel exports.

Kyrgyzstan signs off on $25mn mini-oil refinery

22 July 2026

Kyrgyzstan traditionally relies on Russia for roughly 90% of its fuel imports.

KMG and Eni launch gas-fired power plant in Kazakhstan

22 July 2026

Kazakhstan’s KazMunayGas and Italy’s Eni have produced first commercial electricity from a 120-MW gas-fired power plant at their 247-MW hybrid energy complex in Zhanaozen.

EU naval forces board suspected Russian shadow fleet tanker

22 July 2026

EU naval forces boarded the Cameroon-flagged products tanker South Star in the Mediterranean on July 20 over suspicions that it was fraudulently claiming its nationality.

Allied Biofuels taps Latvia's Pro Logistic Services for Uzbekistan SAF exports

22 July 2026

Allied Biofuels has signed a logistics cooperation agreement with Latvia's Pro Logistic Services SIA to develop export infrastructure for sustainable aviation fuel (SAF) and electric sustainable aviation fuel (e-SAF) from its planned biorefinery.

China effectively joins Western sanctions on Russian Arctic shipbuilding

22 July 2026

China has effectively aligned itself with Western technology restrictions on Russia’s Arctic shipbuilding by withholding supplies of maritime equipment, dealing a further blow to Moscow’s plans to expand shipping along the Northern Sea Route.

Aliyev seals strategic partnership with Germany, secures gas deal expansion in Berlin

22 July 2026

Azerbaijani President Ilham Aliyev and German Chancellor Friedrich Merz signed a Joint Declaration on a Strategic Agenda for Bilateral Partnership in Berlin on July 21, formalising various cooperations.

Kazakhstan warns Kashagan operator of possible criminal action over unpaid environmental fine

22 July 2026

Kazakhstan has reportedly warned the head of the consortium operating the Kashagan oil field of possible criminal prosecution after the developer failed to pay a KZT 2.3 trillion ($4.92bn) environmental fine,

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