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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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Ust-Luga oil terminal appears intact after Ukrainian drone strikes - Bloomberg
The crude oil terminal at Russia’s Baltic port of Ust-Luga appears to have avoided visible damage following a week of Ukrainian drone attacks, even as nearby energy infrastructure shows signs of impact,
Sweden detains Russian shadow fleet tanker after oil leak in Baltic Sea
Swedish authorities have boarded and detained the tanker Flora 1 in the Baltic Sea near Ystad after the vessel leaked what officials described as a significant amount of oil, TASS reports.
Rising oil prices drive Kazakh tenge appreciation in March
Central bank governor Timur Suleimenov has said that Kazakhstan’s national currency strengthened in March given higher global oil prices and increased export revenues.
BP returns to Kazakhstan with exploration partnership
BP has re-entered Kazakhstan’s upstream sector through an exploration partnership with state oil and gas company KazMunayGaz, marking a renewed focus on conventional hydrocarbons.
Kazakhstan signs EPC contract for butadiene plant with Sinopec unit
Kazakhstan’s Butadiene LLP and China’s Sinopec Guangzhou Engineering have signed an engineering, procurement and construction (EPC) contract for a major petrochemical project in the Central Asian country.
Profit of Russian regional oil major Bashneft down 53% in 2025
Russian regional oil major Bashneft, subsidiary of state-controlled oil giant Rosneft, had net profit decline 53% in 2025
Profit of sanctioned Russian oil major Rosneft drops four-fold in 2025
Russia’s largest crude oil producer state-controlled Rosneft had its net profit drop four-fold in 2025 after coming under US sanctions
Authorities arrest brother of Kyrgyzstan’s fired security chief Tashiyev over oil product corruption allegations
Authorities in Kyrgyzstan have arrested the brother of dismissed national security chief Kamchybek Tashiyev, the interior ministry said on April 1.
US extends sanctions waiver for Russian oil transit via Kazakhstan to 2027
The US has reportedly extended a sanctions exemption allowing the transit of Russian oil to China through Kazakhstan until March 19, 2027.
Azerbaijan and Turkmenistan discuss energy, transport and logistics cooperation in Baku
Azerbaijan and Turkmenistan have held a series of high-level meetings in Baku focused on deepening bilateral economic and transport cooperation
Russian gas supplies to Europe via TurkStream grow amid Hormuz crisis
The daily average Russian gas supply to Europe via the TurkStream pipeline expanded by 22% y/y in March to 55mn cubic metres (mcm), calculations have shown.
Ust-Luga and Primorsk to their lowest levels since pre-war time
Russia has lost over $1bn in oil export revenues Ukraine’s week-long attacks on its two most important Baltic Sea ports of Ust-Luga and Primorsk. Weekly shipments through both ports have fallen by two-thirds.
Gazprom Export sues former German trading subsidiary SEFE in Russian court
Gazprom Export filed a lawsuit in St Petersburg against its former German trading subsidiary SEFE, the latest in a series of Russian court actions against European energy firms since Western sanctions severed gas ties.
ING sees Azerbaijan as safe haven amid Middle East risks
Every $10 increase in oil prices adds approximately $3bn to Azerbaijan's annual export revenues, equivalent to 4% of GDP, ING analysts point out.
INPEX to prioritise Kazakh and Azerbaijani oil for Japan amid supply concerns
Japan’s INPEX reportedly plans to prioritise crude oil supplies from Kazakhstan and Azerbaijan for Japanese buyers as concerns grow over disruptions to oil shipments coming out of the conflict-torn Middle East.
Profit of Russian oil major RussNeft down 56% in 2025
Russian oil company RussNeft had its net profit decline 56% in 2025, while corporate governance remains a major concern for the analysts
Georgia's first full-scale refinery targets domestic fuel self-sufficiency and European export
Russia delivers first oil cargo to Cuba, after Trump signals easing of embargo
A Russian oil tanker has delivered the first crude shipment to Cuba in more than three months, after US President Donald Trump signalled he would allow supplies to reach the island despite an effective fuel blockade imposed earlier this year.
Japan steps up efforts at oil diversification
Japan is stepping up efforts to diversify its crude oil supply as the crisis in Iran and the de-facto blockade of the Strait of Hormuz expose the country’s heavy reliance on Middle Eastern imports.
India, Russia eyes resumed LNG trade
India and Russia are preparing to resume direct LNG supplies for the first time since the start of the war in Ukraine.
Sibur pushes on with major investments despite weak market
Russia’s Sibur is pressing ahead with major investment projects despite a weaker macroeconomic backdrop, softer global petrochemical prices and operational disruptions.
Ukraine intensifies attacks on Russian oil terminals
Ukrainian drone strikes on Russia’s Baltic export hubs have knocked out a large share of oil flows, threatening Moscow’s ability to benefit from higher global prices.
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