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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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Nostrum Oil & Gas agrees $304mn sale of Kazakhstan operations
Nostrum Oil & Gas has agreed to sell its Kazakhstan operations for $304mn as the oil and gas producer prepares for an orderly wind-down following the maturity of its debt.
Turkey slashes Russian oil imports amid drone disruptions to Black Sea shipments
Turkey cut crude imports from Russian ports in July as Ukrainian drone attacks disrupted Black Sea exports, with shipments expected to decline further this month.
Russia's fuel prices see 7.4% climb over H1
Retail fuel prices in Russia rose sharply in the first half of this year, with independent filling stations seeing particularly steep increases as supply tightened amid ongoing Ukrainian drone strikes against refineries.
Gas transit through Georgia rises 1.3%, oil transport falls 8.5% in first seven months
Analysts predict mid-to-high $80s per barrel oil prices for this year
Oil price forecasts for 2026 are converging around the mid-to-high $80s per barrel after months of extreme revisions triggered by the Middle East conflict.
Kazakhstan's KazTransOil doubles oil transfers via CPC in July despite drone disruptions
Kazakhstan's oil transport operator KazTransOil more than doubled crude transfers into the CPC system year on year in July, while also resuming shipments through Georgia's Batumi oil terminal after a two-month break.
Russia once more strikes Ukraine's Kremenchuk oil refinery used for storage
Russia has launched another strike on the Kremenchuk oil refinery site, targeting infrastructure that has largely ceased functioning as a refinery but is still believed to be used for fuel storage.
Russia to face fresh fuel squeeze in autumn amid refinery maintenance
Russia could face a fresh fuel squeeze this autumn as refinery maintenance coincides with lower Belarusian supplies and continued drone attacks.
Russia's Black Sea Sheskharis terminal resumes oil loadings following drone strike
Loadings at Sheskharis were halted on August 14 and resumed on August 16.
Kazakhstan's KMG aims to ramp up oil and gas exploration significantly in years to come
Kazakhstan's state-owned KazMunayGas plans a major increase in exploration over the next four years, including the drilling of 26 exploration and appraisal wells, as it seeks to replenish a resource base being depleted at its mature producing fields.
Kazakhstan offers up underexplored oil and gas areas to investors
Under the new system, an investor can select a prospective area from the list and submit an application to the energy ministry requesting that it be put up for auction.
Iran, Tajikistan discuss long-term deal on crude oil, fuel supplies
Iran and Tajikistan have agreed to establish a mechanism to export petroleum products and supply Tajikistan’s refineries with crude oil and fuel under a long-term contract, Iranian Oil Minister Mohsen Paknejad said.
Kazakhstan alleges $10.7bn in compromised Kashagan oil field contracts, says report
Kazakhstan is reported to have alleged in confidential international arbitration proceedings that international oil companies awarded about $10.7bn in Kashagan contracts that involved self-dealing, unjustified cost increases or bribery.
Serbia targets 500 MW gas power plant near Niš by 2030
Belgium leads EU buyers as Russian LNG sales to the bloc jump 57%
The EU bought €809mn of Russian liquefied natural gas in June, 57% more than a year earlier, with Belgium the single biggest buyer.
Moldova says it has enough gas for this winter, but prices are an uncertainty
Moldova has secured all the gas it expects to need this winter and 76% of demand for the full 2026-27 gas year, reducing supply risk but leaving prices uncertain.
Russia plans 2031 launch for reusable rocket powered with LNG
Russia is targeting 2031 for the first launch of its reusable Amur-LNG rocket, with design work now completed and manufacturer Progress moving into the hardware production stage.
Mongolia rolls out plan to bolster fuel security amid crisis
Mongolia is combining emergency fuel imports with tax relief, expanded storage and a push to complete its first refinery by 2028 as it seeks to reduce its overwhelming dependence on Russian supplies.
UK extends licence to Lukoil to give more time for sale of international business
The UK has extended a licence allowing Lukoil International to keep operating until February 2027, buying more time for the sale of its $22bn overseas portfolio as a shorter US waiver approaches expiry.
Russia's Rosneft set to complete full takeover of mid-sized oil producer Bashneft
Russia’s Bashkortostan region plans to sell the remainder of its stake in oil producer Bashneft to controlling shareholder Rosneft, as the Russian region seeks to raise funds rather than borrow at high interest rates.
Kazakhstan’s KazMunayGaz and Croatian partner advance Shygys exploration
Kazakhstan's state oil and gas company KazMunayGaz (KASE: KMGZ) and Croatian company Geoenergija Razvoj have established a joint venture to explore the 2,400-sq km Shygys block in the Central Asian country's western Aktobe Region.
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