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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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China moves past India as top importer of Russian crude via sea
China has emerged as the foremost purchaser of Russian seaborne crude, outstripping India's import volumes, according to data from energy cargo tracker Vortexa
Disrupted refining boosts Russian oil exports in March
Russian oil companies significantly increased offshore oil exports to 3.8mn barrels per day in March 2024 amid refinery utilisation problems, up by 5% year on year and making the highest oil exports since May 2023.
Crude oil prices remain in motion amid Middle East uncertainty
Fresh talks between Israel and Hamas at the start of the week prompted Brent and WTI prices to slip from higher prices during the previous week, but a lack of progress in the talks by mid-week and a pending new attack by Israel prompted concern.
Russian Lukoil joins Kazakh offshore project for $200mn
Russian oil major Lukoil paid $200mn to enter into joint projects with Kazmunaigas to develop the Kalamkas Sea, Khazar and Auezov fields on the Caspian shelf, Kazmunaigas reported as cited by Renaissance Capital.
Sanctioned Russian politician reportedly set up Gazprom meeting for Czech tycoon Kretinsky
Lack of ice-breaking vessels puts damper on Russia’s Arctic oil and gas ambitions
Oil and gas projects in the Russian Arctic will need around 200 ice-class tankers to ship their production to markets by 2035.
Ukraine blows up Russian fuel pipe
Ukraine has claimed responsibility for blowing up a Russian fuel pipeline that supplies the port of Azov.
Europe exits the winter heating season with record gas stocks
The EU has exited the heating season with a record volume of gas in storage, following another mild winter and as a result of reduced industrial demand and a concerted effort by policymakers to boost stockpiles.
Russian government, Novatek to provide $263mn in funding for domestic LNG equipment
The Russian government and the country’s biggest LNG exporter Novatek plan to provide $262mn in funding for the development of LNG industry equipment.
Lukoil raises exploration spending by 30%
Lukoil plans to ramp up spending on exploration by 30% this year, as Russia’s leading oil companies continue to invest heavily in replenishing reserves despite sanctions on their oil exports.
Gazprom takes operator of Dutch-UK gas pipe to court
Gazprom Export has filed a claim in Russia against another European company – this time BLL, the operaator of a 235-km gas pipeline between the Netherlands and the UK.
Azerbaijan doubles down by expanding gas exports to Europe
Azerbaijan is exporting more gas to Europe and Europe is keen to buy it. And as its own production of oil falls slowly it is repositioning itself as a major transit route for Kazakh oil, to allow it to reach the international markets.
Azerbaijan's Q1 2024: oil production at 7.3mn tonnes, gas exports hit 6.4 bcm
In the first quarter of 2024, Azerbaijan's energy sector demonstrated significant activity across oil and gas production, exports and transportation, according to the Ministry of Energy and other sector entities.
Azerbaijan increased gas production by 3.3% in Q1
According to Azerbaijan's Ministry of Energy, gas production in Azerbaijan in Q1 2024 reached 12.6 bcm. According to the Ministry's data, that this represents a 400 mcm increase over the same period in 2023, translating to a growth of 3.3%.
Russia asks Kazakhstan for emergency fuel supply
Russia has requested that Kazakhstan be ready to provide it with 100,000 tonnes of gasoline in the event of shortages.
Absheron gas field ramps up production to supply Azerbaijan's domestic market in Q1 2024
The operating company JOCAP (Joint Operating Company of Absheron Petroleum BV) produced 400 mcm of gas from the Absheron gas condensate field in the Caspian Sea in Q1 2024, according to the Ministry of Energy of Azerbaijan.
Russian federal budget deficit falls to $6.7bn in 1Q24 on the back of higher oil prices
In 1Q24 the federal budget deficit shrank to RUB607bn ($6.7bn), according to a preliminary estimate of the Ministry of Finance, after oil and gas revenues soared by 80% y/y.
Russia struggles to repair drone-hit refineries
Russia is facing difficulties in preparing the oil refineries hit by drone attacks from Ukraine due to sanctions and shortage of components, Reuters reports citing unnamed industry sources.
Gazprom Neft overhauls management structure
Gazprom Neft, the oil arm of Russian natural gas giant Gazprom, has undergone an overhaul of its management structure which has seen the head of its upstream department quit.
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