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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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TSX-listed Condor Energies increases Uzbekistan output to 12,004 boepd
Condor Energies increased its daily gas and condensate production in Uzbekistan to 12,004 barrels of oil equivalent per day (boepd).
Kyrgyzstan to commission new oil refinery in spring
Kyrgyzstan, seeking to cut its reliance on fuel imports, is set to commission a new oil refinery in Kadamjay district in the southwestern region of Batken in the spring, according to local media reports.
Azerbaijan and Somalia agree to boost cooperation in oil and gas exploration
Azerbaijan and Somalia have signed a Memorandum of Understanding (MoU) on oil and gas cooperation, marking a step towards closer energy ties.
Naftogaz secures Norwegian financing for gas purchases as private traders enter market
Ukraine’s state energy firm Naftogaz has secured external financing for gas imports, while private energy traders are also ramping up their involvement in the country’s energy supply.
Chevron appoints new Tengizchevroil managing director
Chevron is set to appoint a new managing director at Tengizchevroil (TCO), Kazakhstan’s largest oil producer, in which it holds a 50% stake and serves as operator.
Kazakhstan to integrate over 600 MW of renewable energy capacity in 2025
Kazakhstan has opened its rare earth and rare metal deposits to international competition, inviting companies from the US, the EU and China to bid for mining rights at government-held auctions, Kursiv reported on February 26, citing Kanat Sharlapaev.
Kazakh oil exports via CPC pipeline remain on schedule despite Ukrainian drone strike damage
Kazakhstan’s oil exports remain on schedule via the CPC pipeline running to the Russian Black Sea coast, despite recent damage caused to a key pumping station in Russia’s Krasnodar region following a Ukrainian drone attack.
ICC rules Gazprom must pay CZK1bn to Czech CEZ
Russian petrochemical major Sibur posts $2.2bn profit for 2024
Russian petrochemical major Sibur posted 8% year-on-year growth in IFRS revenues to RUB1.17 trillion, with EBITDA down by 2% y/y to RUB477bn and net income up by 16% y/y to RUB186bn ($2.2bn).
Russia and China remain rivals in the Arctic, and now the US is knocking at the door
Russia and China’s “no limits” partnership has strengthened considerably over the past three years. They have been driven together by the geopolitical clash between East and West. But there is one place they remain rivals: the Arctic.
KSE: Most of Russia’s shadow fleet operates outside Western insurance system
Tankers carrying Russian oil are significantly less likely to have IG P&I insurance, finds a new KSE Institute report.
Turkey negotiating to extend Turkmen gas supply deal to five years
Turkey is negotiating to extend its new agreement for gas supplies from Turkmenistan to a contractual length of five years, according to Turkish Energy Minister Alparslan Bayraktar.
Rosneft overtakes ExxonMobil to take fourth slot in global energy ranking
Russia’s biggest state-owned oil major Rosneft has overtaken ExxonMobil to take the fourth slot in the Energy Intelligence Top 100: Global NOC and IOC Rankings.
Ukraine’s gas production falls 40% after Russian strikes, imports to rise
Ukraine’s gas production has dropped by 40% following Russian missile strikes on its energy infrastructure, prompting the country to increase imports from Europe, officials said on February 24.
Kazakh industry experts express concern over naphtha, heating oil and marine fuel export bans
Kazakhstan’s ban on the export of naphtha, heating oil and marine fuel, introduced in January, has sparked concerns among industry stakeholders, who warn it could lead to the shutdown of mini-oil refineries and a potential diesel fuel shortage.
Intergas Central Asia reports fivefold increase in net profit for 2024
Intergas Central Asia, a subsidiary of Kazakhstan’s national gas operator QazaqGaz, has reported a fivefold increase in net profit for 2024, reaching KZT47.2bn ($95mn).
Transnistria raises energy prices as Russia replaces subsidies with loans
The authorities of the unrecognised pro-Russian separatist region of Transnistria in Moldova have decided to double natural gas prices and increase electricity prices by 50% for local consumers.
INTERVIEW: Integrating AI with data and experience
AI is rapidly gaining traction in the oil, gas, and renewable energy sectors, as companies seek cost reductions, emissions control and safety improvements.
EU expands oil and gas sanctions in 16th package
The EU has imposed additional measures against Russia’s oil and gas industry as part of its 16th sanctions package, while stopping short of any further restrictions on the bloc’s purchase of Russian LNG.
Global oil market could lose 20mn barrels following CPC drone strike in Kazakhstan
The CPC handled around 1.2% of global oil production in 2024.
EU paid four times more for Russian LNG in Q4 2024 versus Q1 2021
The cost of importing Russian LNG into the EU has increased nearly fourfold compared to 2021 levels, driven by rising supply volumes and higher prices.
EU spending on Russian oil and gas surpasses Ukrainian aid
Despite various sanctions, Russia's global fossil fuel export revenues reached €242bn in the third year of the invasion.
EU’s 16th sanction package targets Russian aluminium, 13 banks and shadow fleet
The Council of Europe has approved the 16th sanction package against Russia's full-scale military invasion on Ukraine, targeting 48 individuals and 35 entities.
UK removes sanctions on Gazprom Neft executive
The UK earlier this month made the rare decision to remove someone from its Russia sanctions list – a Gazprom Neft executive called Irina Chubarova.
Novatek prepares to relocate LNG transhipment to Barents Sea
Novatek is preparing to minimise the impact of European sanctions on its exports to Asian markets.
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