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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.
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Russia selling oil at premium as Hormuz disruption tightens global supply
Russia is now selling oil at a premium on some routes as Strait of Hormuz disruption tightens global supply, Deputy Prime Minister Alexander Novak has said, marking a sharp reversal from post-sanctions discounts.
Kazakh oil export headache worsens as Ukraine targets drone attacks at Russian Baltic ports
Already facing difficulties with Black Sea shipments, Kazakhstan now has a problem with northern route.
KazMunayGas revenue rises 13% in 2025 on Tengiz output growth
Kazakhstan’s state oil and gas company KazMunayGas (KMG) has reported a 13% y/y revenue gain to nearly KZT 9.4 trillion ($18bn) in 2025, supported by higher production at Tengiz oilfield.
Ukrainian drone strikes on Russia's Baltic ports cut exports by 40%
Ukraine intensified long-range strikes on Russian energy and industrial infrastructure, targeting oil export terminals and refineries that have cut exports by 40% in an effort to cut Russia’s ability to profit from windfall oil profits.
Putin warns Russian business not to squander 'Iran war' oil windfall
Putin has warned Russian businesses not to fritter away oil windfall profits as commodity prices surge amid the Middle East conflict, cautioning that market conditions could reverse sharply.
Turkish-owned tanker hit by drone in Black Sea attack
The Altura, a Turkish-owned crude oil tanker, was struck by a drone 15 nautical miles (28 kilometres) off Istanbul’s Bosporus strait while carrying crude oil picked up in Russa, NTV reported on March 26.
Ukraine secures fresh energy backing as EBRD builds 1 GW renewables pipeline
Ukraine is ramping up efforts to strengthen its war-hit energy sector, with the EBRD assembling a renewable energy investment pipeline exceeding 1 gigawatt and approving fresh funding to help the capital prepare for winter.
Russia reportedly considers potential sanctions on CPC pipeline
Russia’s oil and gas sector is said to have discussed the possibility of imposing sanctions on the Caspian Pipeline Consortium (CPC).
Kazakhstan restores oil output after CPC disruptions, minister says
Kazakhstan has reportedly restored crude oil production following disruptions to loading operations on the Caspian Pipeline Consortium (CPC) route in December and January.
Tethys Petroleum reports stable output and new drilling plans in Kazakhstan
Kazakhstan-based Tethys Petroleum’s oil production in the country averaged around 323 tonnes per day in 2026, with output recently moving up to 375 tonnes per day after temporary disruptions caused by adverse weather conditions.
Turkey says Hormuz crisis adds urgency to consideration of “new energy architecture” for Iraqi, Qatari and Turkmen oil and gas exports
Looking to the future of oil and gas shipment routes beyond the current conflict in the Middle East, Turkey is with new urgency already assessing the potential of a "new energy architecture" in the region that would create new pipeline options.
Losers and winners from the Qatari LNG disruption
While European and Asian importers have been hit hard by the disruption in Qatari LNG to varying degrees, the crisis has both short- and long-term benefits for US exporters and other LNG competitors.
Turkmengaz has go-ahead to sign EPC with CNPC subsidiary for fourth development phase of giant Galkynysh field, say state media
Turkmenistan’s state-run gas company Turkmengaz has received government authorisation to sign a Galkynysh 4th phase development EPC contract with CNPC subsidiary CNPC Amu Darya Petroleum, state media say.
Condor in 2025 scales up gas production in Uzbekistan, progresses LNG project in Kazakhstan
Canada-based Condor Energies Inc (TSR:CDR) has reported that its Uzbekistan operations in 2025 enjoyed rising production and revenues.
Iranians freeze gas supplies to Turkey following Israeli strike on South Pars
Ankara yet to comment on whether it could face significant gas shortages.
Kazakhstan cancels contract with Shell and Eni
State takes charge of building processing facility at Karachaganak field.
Russia finmin proposes keeping Argus for oil tax calculation
Russia’s finance ministry is proposing to maintain the use of Argus price quotations for calculating oil taxes.
Ukraine diesel supply stable for now but April outlook uncertain
Ukraine’s diesel market is expected to remain adequately supplied through the end of March, supported by steady imports, but uncertainty is mounting over availability and pricing in April as global energy markets tighten.
Rising fuel costs from Middle East conflict raise Georgian inflation risk and dim rate cut prospects
Russia’s oil exports to India jump 27% in March
Russia’s oil exports to India rose by 27% month-on-month (m/m) in March to 1.4mn barrels per day, while Urals crude traded at a $5 per barrel premium to Brent in the Indian market.
Russian hydropower major RusHydro posts profit of $1.3bn in 2025
Russia’s state hydropower holding RusHydro reported revenue of RUB741bn ($8.1bn) under IFRS for 2025, up 15% year-on-year.
Japan’s MHI selects Saipem’s urea technology for new fertiliser plant in Turkmenistan
Italy’s Saipem on March 20 announced that it has been awarded a new urea licence agreement by Japan’s Mitsubishi Heavy Industries (MHI) for a new fertiliser plant in Turkmenistan.
Appetite for Turkmen gas could rise in China, Turkey and Europe amid Hormuz crisis
Disruption to Middle East supplies may have concentrated minds. Is Central Asia gas a better bet?
Lukoil backs higher dividend than expected despite sanctions
Lukoil’s board of directors has recommended a final dividend for 2025 of RUB278 per share, surpassing analysts’ expectations.
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