FSUOGM - Former Soviet Union Oil & Gas

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Oil & Gas

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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.

FSUOGM is a fully digital publication and can be read via PDF, PageSuite or via our NewsBase App.

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Turkmenistan eyes Iran transit route to widen gas exports to other countries

20 May 2025

Turkmenistan is looking to build up its gas exports to other countries by channelling supplies through Iran, Foreign Minister Rasit Meredow said during a visit to Tehran.

US grants permanent exemptions for CPC and Tengizchevroil amid Russia sanctions

20 May 2025

The US has issued permanent exemptions allowing transactions linked to Kazakhstan’s Caspian Pipeline Consortium (CPC) and Tengizchevroil (TCO), safeguarding key oil export routes from the reach of recent sanctions targeting Russia.

BP completes drilling of initial appraisal well for gas development at ACG block

19 May 2025

BP has completed drilling the first well under the new free gas development project at the Azeri-Chirag-Gunashli oilfield block, targeting two priority gas-bearing reservoirs.

Serbia negotiates new long-term gas deal with Russia

19 May 2025

Serbia has increased efforts to diversify its energy sources but remains heavily dependent on Russian gas.

Tensions in the Baltic Sea: Russia detains oil tanker that left Estonian port

19 May 2025

Russian authorities detained a Greek-owned oil tanker, Green Admire, on May 18 after it departed from Estonia’s Port of Sillamae en route to Rotterdam, and was transiting Russia’s territorial waters along a previously agreed shipping corridor.

BP eyes entry into Karabakh oil project as Shah Deniz Compression investment decision nears

19 May 2025

British energy major BP is in talks with Azerbaijan’s state oil company SOCAR to join the development of the Karabakh oil field in the Caspian Sea.

COMMENT: Europe must choose either to accept 15% of Russian gas supplies or zero

18 May 2025

The European Commission on May 6 unveiled a brief roadmap outlining how it plans to achieve the EU objective of eliminating all remaining Russian energy imports by 2027.

Kazakhstan’s CPC crude oil exports forecast to rise in June despite OPEC+ overproduction concerns

18 May 2025

Exports of CPC Blend crude oil via the Black Sea are reportedly expected to increase in June to between 1.6mn and 1.7mn barrels per day (bpd).

Chevron fund to invest $10mn in Kazakhstan’s sole bioethanol producer

16 May 2025

Chevron Direct Investment Fund (CDIF) will invest $10mn in BioOperations, Kazakhstan’s only bioethanol producer, to support the expansion of its manufacturing capacity and the creation of new jobs.

Kazakhstan boosts oil refinery output by 10.8% in first four months of 2025

16 May 2025

Kazakhstan’s oil refineries processed 6.092mn tonnes of crude oil between January and April, reflecting a 10.8% y/y increase.

Azerbaijan’s oil output down 5.4% y/y in January–April, while gas production inches up

16 May 2025

Azerbaijan’s oil output down 5.4% y/y in January–April, while gas production inches up

Oil and gas pipeline transport and investment decline in Azerbaijan in January–April 2025

16 May 2025

Oil and gas pipeline transport and investment decline in Azerbaijan in January–April 2025

Condor Energies reports 1Q growth, expands LNG and critical minerals portfolio in Central Asia

15 May 2025

Canadian energy transition company Condor Energies has reported a 6% increase in production and revenue in the first quarter of 2025 from its operations in Uzbekistan, alongside new strategic developments in Kazakhstan LNG and critical minerals.

Kazakhstan exceeds OPEC+ quota in April despite 3% drop in oil output

15 May 2025

Kazakhstan's crude oil production reportedly fell by 3% m/m to 1.82mn barrels per day (bpd) in April.

Eurasia a significant source of methane emissions – report

14 May 2025

Russia and Turkmenistan are primary offenders.

Kazakhstan’s CPC oil exports to fall in May amid pipeline maintenance

14 May 2025

Kazakhstan’s oil exports via the Caspian Pipeline Consortium (CPC) are reportedly expected to decline in May, with CPC Blend shipments set at 1.5mn barrels per day (bpd), or roughly 6mn tonnes for the month.

Kazatomprom secures KZT85bn loan for sulphuric acid plant in Turkestan region

14 May 2025

The world’s biggest uranium producer Kazatomprom has announced the signing of a KZT85bn ($188mn) credit line agreement with Development Bank of Kazakhstan to fund the construction of a sulphuric acid production facility.

EU eyes sanctions on Surgutneftegaz, Lukoil unit and Russian insurer in next package

13 May 2025

The EU is considering the inclusion of Russian oil producer Surgutneftegaz, insurance firm VSK, and Litasco Middle East, a subsidiary of Russian oil firm Lukoil, in its 17th package of sanctions against Russia.

Ukraine pledges $48mn in annual payments to joint subsoil fund with US

13 May 2025

The Ukrainian government plans to allocate up to UAH2bn ($48mn) annually to a future US-Ukrainian subsoil fund.

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