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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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OPEC+ members stick together with latest output raise
OPEC+’s seven core producers have agreed a modest easing of voluntary supply curbs from August, signalling a cautious, coordinated shift in strategy rather than a wholesale change of direction.
Russian motorists switch vehicles to LPG amid gasoline shortage
Demand for LPG conversion equipment rose by 35% compared with March-April, Reuters reported on July 2, citing the National Gas Motor Association.
Russian forces strike gas stations in Ukraine's Sumy region
Ukraine’s state emergency services said filling stations were targeted in the Nedryhailiv community and the city of Sumy. One of the facilities was hit again in the morning after an initial overnight attack.
Russia's Urals oil blend falls under $45 per barrel
The estimated free-on-board price of Urals at the Baltic ports of Primorsk and Ust-Luga and the Black Sea port of Novorossiysk fell below $45 per barrel last week.
Kazakhstan eyes options to reduce reliance on Russia's Orenburg plant to process Karachaganak gas amid drone strikes
Kazakhstan is weighing Nostrum’s Zhaikmunai plant as a back-up for Karachaganak gas, but only limited volumes could be redirected.
Russia imports record volume of Belarusian gasoline in June amid shortages
The volume was 140% times higher than imports during the whole of May and compared with only 1,000 tonnes in June 2025, Vedomosti reported, citing data from the Centre for Price Indices.
Ukraine hits Russian oil refineries nearly 200 times this year
Ukrainian forces struck Russian oil refineries at least 194 times in the first half of 2026, an elevenfold increase from the same period last year, as Kyiv intensified a drone campaign that has contributed to Russia’s worsening fuel crisis.
Gazprom Neft deploys Russia's first domestically-produced fracking fleet
Gazprom Neft has deployed what it described as Russia’s first domestically produced hydraulic fracturing fleet at the Yuzhno-Priobskoye field in the Khanty-Mansiysk region.
Gazprom Neft completes trials of Russia's first domestically-produced oil well tractor
Russian oil firm Gazprom Neft has completed trials of what it described as Russia’s first domestically produced well tractor, cutting the cost of downhole operations by a fifth.
Russian refinery runs hit multi-year low in June amid Ukrainian strikes
Russian refinery runs could recover from June’s multi-year low, but fuel supply is expected to remain tight through summer.
Georgia's only refinery to stop using Russian oil to target EU fuels market
Georgia’s Kulevi oil refinery plans to stop processing Russian crude from August or September, allowing it to target more profitable markets in the EU.
Head of German far-right party calls for return to Russian oil and gas
“Cheap energy from Russia was the secret of the success of ‘Made in Germany’. We need it back,” the leader of the far-right AfD told Reuters last week.
Mongolia expects progress on Russia-China gas pipeline at Vladivostok form in September
“I think there will be progress during this year’s Eastern Economic Forum in Vladivostok,” Ninj Demberel said, referring to the event scheduled for September 1–4.
Yamal LNG carrier arrives in Danish yard for maintenance ahead of EU ban on Arc7 servicing
A Yamal LNG carrier has entered Denmark’s Fayard yard ahead of new EU restrictions in 2027.
Uzbekistan's Uzbekneftegaz targets 1.6% growth in gas output this year
The company plans to drill at 17 prospective areas targeting combined C3 resources of almost 81.9 bcm of gas.
Russian wholesale gasolines see mixed changes in week ending July 3
Russian wholesale gasoline prices moved in different directions in the week ending July 3, with AI-92 gaining 1.38% while AI-95 fell by more than 1%.
Russia eases rule on mandatory diesel sales on exchanges
Russia’s energy ministry confirmed on July 3 plans to reduce the mandatory share of diesel production sold on commodity exchanges from 16% to 10%, as the government seeks to redirect more fuel to agricultural producers.
Shareholders in Russian petchems firm Sibur approve 36% drop in dividends for Q1
Shareholders in Russian petrochemicals giant Sibur have approved RUB6.74bn ($86mn) in dividends for the first quarter of 2026, down 36% from the same period last year.
Russia provides tax incentives to boost fuel supply to domestic market
The move comes as Ukraine has intensified drone strikes against Russian oil refineries in recent months, causing widespread shortages including in the capital.
Sevastopol eases restrictions on fuel sales at some stations
Nine filling stations in Russian-annexed Sevastopol began selling fuel without QR codes on July 5, offering limited relief from restrictions introduced in response to persistent supply shortages.
Ukraine hits St Petersburg oil terminal in largescale drone strike on July 4
A major oil products terminal in St Petersburg was struck during a large-scale Ukrainian drone attack overnight on July 4, although Russian authorities reported no casualties.
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