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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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Sibur plans $164mn in sustainability investments in Tatarstan
Russian petrochemicals producer Sibur plans to invest more than RUB13bn by 2028 in projects aimed at improving the environmental situation in Tatarstan.
Russia's Gazprom Neft sees slide in H1 profits
Gazprom Neft’s net profit under Russian accounting standards fell 1.8 times in the first half of 2025 from a year earlier to RUB228bn.
Syria receives 3.4 mcm per day of Azeri gas
Syria is currently receiving 3.4 mcm of natural gas per day from Azerbaijan, with the capacity to raise deliveries to 6 mcm per day via a pipeline through Turkey.
Russian Urals price for India slides amid US sanctions threat
Prices for Russia’s Urals crude shipped to India have fallen sharply in early August amid mounting Western sanctions pressure.
Owner of major Russian oilfield put up for sale for $1.3bn
Russian oil and gas company AFB, whose ultimate beneficiary is Vitaly Vantsev, co-owner of Moscow’s Vnukovo airport, has been put up for sale with an asking price of $1.3bn.
Kazakhstan signs Tengiz Gas Separation Complex deal with Italy’s MAIRE Group
Kazakhstan’s KMG PetroChem and Italy-based MAIRE Group have officially signed the contract for the Tengiz Gas Separation Complex (GSC) project, Maire said in a press release on August 5.
US doubles tariffs on India over Russian oil
The US has intensified trade pressure on India by announcing a sharp increase in tariffs on key exports, citing India's continued purchases of Russian oil
Russia strikes key Ukrainian gas facility linked to Trans-Balkan LNG route
Pipeline built to transport Russian gas through Ukraine to Southeast Europe has recently been repurposed to support imports of LNG from the US and Azerbaijan.
Hungary’s MOL Group signs crude oil supply agreement with KazMunayGas
Hungary’s MOL Group has signed a crude oil supply agreement with Kazakhstan’s state-owned energy company KazMunayGas (KMG) as part of its strategy to diversify oil sources for Central and Eastern Europe, the former said in a press release.
BTC works with SOCAR to address the off-spec crude issue at the Ceyhan terminal
BTC works with SOCAR to address the off-spec crude issue at the Ceyhan terminal
Gazprom gas sales to Europe slump to 50-year low
Gazprom’s natural gas deliveries to Europe have plummeted to their lowest levels since the 1970s, further diminishing what was once one of the Kremlin’s biggest revenue streams.
Kazakhstan’s July oil output dips 2%, remains above OPEC+ quota
Kazakhstan’s crude oil production fell by 2% in July compared to June, but output levels remained above the country’s agreed quota under the OPEC+ deal, Reuters reported on August 4, citing an anonymous source familiar with the data.
Kashagan oil field partners win $4.2bn sulphur fine case in Kazakhstan
Partners in the Kashagan oil project at Kazakhstan’s second-largest oil field have won a legal case in a Kazakh appellate court, avoiding a potential environmental fine of KZT2.3tn ($4.2bn), Bloomberg reported on August 1, citing operator NCOC.
OMV Petrom taps strategic reserves after rejecting contaminated Azeri crude
Romania has authorised OMV Petrom to temporarily use 80,000 tonnes of crude oil and 30,000 tonnes of diesel from its emergency reserves after the company refused two shipments of contaminated Azerbaijani crude totalling 180,000 tonnes.
Indian opposition blames government on Trump threats
Under President Donald Trump’s second term his administration has taken a much more hawkish stance that Indian purchases enable Russia to weather sanctions and indirectly fund its war effort
Strong ruble dents Tatneft’s regional oil major’s profit in 1H25
Strong ruble dents the financial results of Russian regional oil major Tatneft, but generous dividends still expected
Azerbaijan’s Socar says it wants to expand, not sell, Aegean Sea container terminal in Turkey
The State Oil Company of the Azerbaijani Republic (Socar) is not mulling the sale of its Aegean Sea container terminal in Turkey, according to Turkish business daily Dunya.
OPEC+ to raise oil production in September
Eight key OPEC+ countries have announced a production adjustment of 547,000 bpd for September
Claims of disrupted gas flows dismissed as media probe confusion over reported explosion on Central Asia-Centre pipeline
Media probes confusion over reports of explosion hitting Gazprom's Central Asia-Center pipeline.
COMMENT: Russian sanctions have failed, but its buffers are eroding
Russia’s ability to withstand Western sanctions is showing signs of strain as fiscal and external buffers erode, according to senior economists at the Institute of International Finance.
Five ports receive more than half of Russian crude transported by UK-sanctioned vessels
The UK’s recent crackdown on Russia’s shadow fleet tankers has curtailed some crude flows but leaves significant loopholes in the regime. Only five ports serve over half (57%) of Russia’s crude oil, transported by UK-sanctioned tankers.
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