FSUOGM - Former Soviet Union Oil & Gas

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Oil & Gas

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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.

FSUOGM is a fully digital publication and can be read via PDF, PageSuite or via our NewsBase App.

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Slovenia's Geoplin seals first natural gas supply deal with Azerbaijan's SOCAR

1 August 2024

Slovenia's leading gas wholesaler, Geoplin, said on August 1 it has concluded its first natural gas supply agreement with Azerbaijan’s energy giant SOCAR.

SOCAR and Eni S.p.A. sign memorandum to enhance energy cooperation and sustainability

31 July 2024

Minister of Economy and Chairman of the Supervisory Board of the State Oil Company, Mikayil Jabbarov, and SOCAR President Rovshan Najaf met with Claudio Descalzi, CEO of Italy’s Eni S.p.A company.

Russia prepares $25bn initiative to substitute equipment and tech in the energy sector

30 July 2024

Russia’s flagship national initiative to achieve “technological sovereignty” in the energy sector, overcoming dependence on Western technology, is set to cost RUB2.14 trillion ($25bn) between now and the end of the decade.

Major Moldovan fuel distribution company Tirex Petrol goes insolvent

30 July 2024

Tirex Petrol, the incumbent car fuel distribution company in Moldova and the fourth-largest distribution company in 2023 (after major players Petrom, Rompetrol and Lukoil) privatised in 2000, entered insolvency at the request of creditors.

Helmerich & Payne to acquire KCA Deutag

30 July 2024

Helmerich & Payne (H&P) is to acquire UK-based KCA Deutag International for $1.97bn in cash

$10 oil price change to impact Azerbaijan's budget by AZN100mn and SOFAZ by $0.4bn in 2024

29 July 2024

According to calculations by the Ministry of Finance, considering the full transfer of funds from the State Oil Fund of the Republic of Azerbaijan to the state budget and the actual revenues for the first half of the current year.

Gasum halts Russian LNG purchases

29 July 2024

Finland’s Gasum has stopped LNG purchases from Russia in response to EU sanctions imposed last month that prevent delivery of such cargoes to terminals not connected to the bloc’s gas network.

Russian gas output up 9.5% in June on warm weather

29 July 2024

Russia increased natural gas production by 9.5% year on year in June to nearly 49bn cubic metres, reflecting an increase in domestic demand because of warmer weather.

Russia's finance ministry rejects Lukoil call for support for refining investments

29 July 2024

Russia’s finance ministry is against providing state support for large-scale modernisation projects at refineries, rejecting a proposal for aid from Lukoil.

Refining assets of Lukoil oil major refused state support

29 July 2024

Russia’s Ministry of Finance refused state support for major refinery modernisation projects of the country’s second-largest oil producer Lukoil.

Azerbaijan may ship Russian gas to Europe via the back door

29 July 2024

As Ukraine seeks alternatives to Russian gas transiting through its territory, a proposed plan to substitute Azeri gas has raised concerns that Russian gas can be imported into Europe via an Azeri back door.

Revenues of Azeri state-owned company that sells gas to domestic distributors fell by 9% and net profit by 72%

29 July 2024

Azerkontrakt, the natural gas distributor within Azerbaijan selling to Azeriqaz PU and other companies, has announced its financial results for 2023.

Russia considers diesel fuel export ban

26 July 2024

In addition to the petroleum export ban already in place, the Russian government could introduce an export ban on diesel fuel for both refineries and traders.

Russian gas major Novatek doubles profit to $4bn in 1H24

26 July 2024

Russian natural gas major Novatek increased its IFRS revenues by 17% year on year to RUB752bn, with EBITDA up by 16% y/y to RUB481bn, and net profit up 2.2-fold y/y to RUB342bn ($4bn).

Uzbek gas output continues decline in H1

25 July 2024

Uzbekistan’s marketable natural gas production continued its decline in the first half of this year, dropping by a further 5% to 22.3bn cubic metres.

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