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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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Lukoil denies plans to sell Bulgarian refinery to Qatari-UK consortium
Lukoil denies reports of talks with UK-Qatari consortium, but says it is "considering various options" regarding its Bulgarian business.
SOFAZ reports a decline in revenues from Shah Deniz and ACG fields in January-October 2024
In January-October 2024, the State Oil Fund of Azerbaijan (SOFAZ) earned $416.17mn from gas and condensate sales at the Shah Deniz gas-condensate field, marking a 2.8-fold decrease compared to the same period last year
Russian Lukoil to sell Bulgarian Burgas refinery to Qatari-British investors
Russia’s second-largest oil producer Lukoil is selling its majority stake in Bulgarian refinery Neftohim (Neftochim) Burgas to Qatari-British investors, the Financial Times report citing Lukoil’s letter to Russia's President Vladimir Putin.
Turkey plans regional gas hub, Istanbul index in 2025
Turkey’s Energy and Mineral Resources Minister Alparslan Bayraktar told Turkish media last week that a natural gas trading hub could begin operating in Istanbul in 2025.
Romania supplies nearly two-thirds of Moldova's natural gas imports in January-September
In the first nine months of 2024, nearly 61% of the Republic of Moldova's natural gas imports came from Romania’s two largest gas producers, Petrom and Romgaz.
BP reports stable production and major investments in Azerbaijan
BP's third-quarter report on its operations in Azerbaijan highlights substantial investments and steady production from major oil and gas assets, including the Azeri-Chirag-Gunashli (ACG) block and the Shah Deniz gas-condensate field.
COP29: Baku’s balancing act between green energy and oil rents
As Azerbaijan prepares to host the 2024 UN Climate Change Conference (COP29) in Baku from November 11 to 22, the choice of venue has attracted significant criticism, says Jody LaPorte, the Gonticas fellow at Oxford University.
Energy industry must drive sustainable socio-economic growth: ADIPEC
The global energy industry must drive the next phase of sustainable socio-economic growth, UAE Industry Minister and CEO of the country’s national oil company ADNOC, Sultan Ahmed Al Jaber, said at the ADIPEC conference in Abu Dhabi on November 4.
BP’s complex legacy in Azerbaijan scrutinised
TMK announces second successful drilling of pilot well at Gurvantes coal seam gas project in Mongolia
OPEC output rises despite Iraqi cuts as unwinding is pushed back
has pushed back its planned easing of output cuts to the end of the year, just as production has risen despite Iraq’s compensatory efforts
US maintains sanctions pressure on Russian LNG
The US Treasury Department maintained pressure on the Russian liquefied natural gas (LNG) sector with a number of designations in the October 30 sanction update.
Kazakhstan’s daily oil output down by 20% m/m in October
Ukraine targets Eastern European gas hub role with boosted production
Ukraine is positioning itself as a potential gas hub for Eastern Europe following production of more than 11 bcm in the first nine months of 2024, marking a year-on-year increase of 0.7 bcm.
St Petersburg oil terminal owner claims "corporate raid"
Petersburg Oil Terminal, the operator of Russia’s biggest oil product transhipment terminals, claimed it was the victim of a “corporate raid” by a Cyprus-based company called Tudjunga Enterprises.
Gazprom returns to profit in Q3
Russia’s Gazprom returned to the black in the three months ending September 30, according to Russian accounting standards, earning a net profit of RUB171.5bn.
Global oil supply to see major glut next year: World Bank
Global commodity prices are on track to slump to a five-year low next year, with an oil glut emerging so large that it will largely negate the impact of the Israel-Palestine war escalating into a regional Middle Eastern conflict.
Russia's Khanty-Mansiysk to offer up 17 subsoil blocks at auction
The government of Russia’s oil-producing heartland of Khanty-Mansiysk has approved a draft order to auction off rights to 17 oil and gas blocks next year.
Russia ditches plan for early end to gasoline ban
The Russian government has dropped plans to lift its ban on gasoline exports early, amid scheduled and unscheduled repairs that are set to drag on into November.
Russia's Norilskgazprom completes two new wells at key field on Taymyr
Russian mining group Norilsk Nickel reported on October 28 that its natural gas subsidiary Norilskgazprom had completed two new wells at the Pelyatkinskoye gas condensate field, to maintain production.
KMG, Tatneft to drill deep well in west Kazakhstan next month
Kazakhstan’s state oil company KazMunayGas and Russian oil firm Tatneft plan to drill a first 5,500-metre exploration well next month at the Karaton Podsolevaya block in the west of the Central Asian country.
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