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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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Russia adds smallest volume to oil reserves in 2023 in six years
Russia replenished its oil reserves in 2023 by the smallest annual volume in six years.
Novatek sees slight rise in gas supply in Q1
Russia’s Novatek boosted its gas production by 1.2% year on year to 21.12bn cubic metres in the first quarter.
Russian attacks on Ukrainian gas storage sites raise European prices
Russia's assault on two Ukrainian underground gas storage facilities on April 11 has triggered a surge in European gas prices, marking a change in Russia's strategy.
EU Parliament backs rules to allow member states to block Russian LNG
The European Parliament voted in favour last week of rules thaat would enable governments of EU member states to block Russian LNG imports by preventing Russian companies from booking capacity at gas infrastructure.
Lukoil opens first filling station in Kazakhstan
Russia sends three diesel-loaded tankers to Sudan
Imports of Russian oil to Czechia increase by 2% y/y in 2023
Imports of Russian oil to Czechia from the Druzhba pipeline increased by 2% year-on-year in 2023 and amounted to a 58% share of the overall oil imports to the country
How much damage can Ukraine’s drone attacks on Russian oil refineries do?
Since the beginning of the year, Ukrainian drones have attacked over two dozen Russian oil refineries and several oil depots in the first sustained campaign against Russia’s oil product producing facilities.
Lukoil expands in Kazakhstan
Lukoil is expanding its oil and gas operations in Kazakhstan, amid limited overseas opportunities for the company because of Russia’s increased international isolation.
Russia's top four drilling firms see profit surge 54% in 2023
The combined net profit of the four biggest oilfield services companies in Russia surged by 54.1% in 2023 to $337mn on the back of increased drilling.
Naftogaz secures gas storage agreements with European companies
Naftogaz has signed agreements with German, Norwegian and French firms for gas storage services in Ukraine, despite continued Russian attacks.
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.
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