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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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Russian oil discounts to India keep growing
Russian oil and gas revenues could drop 35% in November
Russia's federal budget revenues come under increased pressure after the latest round of US sanctions on Lukoil and Rosneft, Reuters estimates
Canada's Condor Energies reaches total depth on first horizontal well in Uzbekistan
Canada's Condor Energies Inc (TSX: CDR) has reached the total depth on its first horizontal well andakli-23 (A-23), located in the Andakli field of Uzbekistan, the company announced on November 24.
Kazakhstan’s competition authority proposes sales of 50% of KMG’s overseas arm
Kazakhstan’s competition authority has reportedly proposed selling up to 50% of KMG International, the overseas arm of KazMunayGas (KASE: KMGZ), through an open, two-stage bidding process planned for 2026–2027.
Russian Lukoil recommends dividends despite sanctions
Russian sanctioned independent oil major Lukoil recommends interim dividends despite sanction pressure
Sustainable Fitch assigns SOCAR an ESG rating of ‘3’ amid mixed environmental and governance performance
Turkey’s underground gas storage facilities at full capacity ahead of winter
Turkey’s underground natural gas storage facilities have been fully stocked ahead of the winter season, ensuring supply security for peak-demand months, Energy and Natural Resources Minister Alparslan Bayraktar has announced.
Romania says it is protecting Romgaz’s participation in Lukoil-operated Trident offshore block
Romanian Prime Minister Ilie Bolojan said on November 21 that the Government has taken measures to protect the interests of state-owned natural gas producer Romgaz in the Trident offshore perimeter operated by Russia’s Lukoil.
KazMunayGas plans to divest 50% of its European assets
Kazakhstan’s state company KazMunayGas plans to sell up to 50% of its European assets, including KMGI with Romania’s largest refinery, Petromidia (4.8 million tonnes refining capacity),
Orlen’s US LNG supplies to Naftogaz may reach 1 bcm in 2026
Rosneft reduces shareholding in Kurdistan pipelines
Russia’s Rosneft has executed a strategic reduction of its shareholding in the Kurdistan Pipeline Co. (KPC), bringing its stake below the critical 50% threshold to insulate the subsidiary from the reach of US sanctions
Turkmenistan still venting like crazy, methane super-emissions data show
Country clearly still needs a kick in the gas.
UK removes sanctions on two subsidiaries of Russian Lukoil in Bulgaria
UK issues a license temporarily lifting sanctions from two Bulgarian subsidiaries of Russian oil major Lukoil
Fitch affirms Uzbekneftegaz at ‘BB’, notes company’s falling gas output
Fitch Ratings has affirmed JSC Uzbekneftegaz's (UNG) Long-Term Issuer Default Rating (IDR) at 'BB' with a Stable Outlook, while at the same time noting the company’s falling gas output.
India confronts stricter US sanctions as Russian oil imports decline
India’s reliance on discounted Russian crude — a pillar of its energy strategy since 2022 — has come under renewed strain as Washington tightens sanctions and imposes fresh tariffs on Moscow’s energy sector.
Romania avoids taking over management of Lukoil refinery
Romanian authorities plan to draft framework legislation to facilitate the sale of Lukoil’s assets, including the Petrotel refinery. Initially, Romania planned to take over temporarily the management of the refinery.
LONG READ: How oil price discounts became a barometer of the sanction’s effectiveness
When Russian troops crossed into Ukraine in February 2022, the country’s main crude export blend, Urals, was still trading in line with its traditional discount to Brent of $2. A month later Russia discounted it by $30 to find buyers.
Trump still wants full control for support of Russia sanctions bill
China’s Yangchang Petroleum purchases crude from UAE and Kazakhstan after halting Russian oil imports
US super-majors circle around Lukoil’s assets in Kazakhstan and Iraq
Exxon Mobil has reportedly joined Chevron in exploring potential acquisitions of Lukoil’s international assets since the US Treasury authorised companies to begin discussions with the sanctioned Russian oil firm.
Mongolia-focused TMK Energy reports production milestone at “enormous, discovered gas resource on doorstep of China”
TMK Energy (ASX: TMK) on November 18 announced a record gas production milestone at its 100%-owned Gurvantes XXXV Coal Seam Gas (CSG) Project in Mongolia.
Ukraine agrees rapid gas supply deal with Greece as Russian strikes hit energy system
Russia’s Tatneft to pay 3Q25 dividends
Tatneft of the Republic of Tatarstan remains one of the most consistent dividend payers among Russian oil names
Mongolia to create working group to develop Soyuz Vostok gas pipeline
Tsivilev said Russia remained committed to the successful and timely execution of the pipeline project.
Novatek ends eastbound LNG exports via the Northern Sea Route
The last shipment is being carried by the Arc7 tanker Boris Vilkitsky, and no further vessels are heading east, marking the end of the region’s spring–summer navigation period.
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