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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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Turkmenistan sees slight increase in gas output in H1
Oil production rose by 0.9% to 4.13mn tonnes.
European gas prices surge amid renewed US-Iran hostilities
European gas prices have soared this week amid renewed US-Iran hostilities, driving up costs for restocking supplies ahead of next winter.
Russia adds more energy firms to list not required to disclose corporate info
Russia has added 12 energy and aviation-fuel companies, including seven subsidiaries of state oil giant Rosneft, to a list of entities permitted to decide how much corporate information they disclose.
Putin vows to shore up Crimean fuel supply
Russia has begun work on a new system for supplying petroleum products to Crimea that will be harder to attack.
Russia reports drone debris hitting Afipsky refinery, causing fire
The blaze was subsequently extinguished.
Gazprom reports drone strike on compressor station serving Russia's Blue Stream gas pipeline
The station was attacked at 19:51 local time on July 7, Gazprom said. The company did not disclose the extent of the damage, adding that emergency work was under way.
Russia claims it has partially stabilised domestic fuel market
The attacks damaged several refineries and temporarily reduced gasoline and diesel production, forcing suppliers to reroute fuel and placing greater pressure on filling stations, Novak said.
Russian refining down to record lows, LNG exports to Europe at record highs
Russia’s crude output declined to the lowest in at least two and a half years in June as Ukraine attacked the nation’s oil infrastructure on an almost daily basis. But LNG production remains untouched and exports to Europe are at record highs.
Indonesia’s Karimun emerges as Asian hub for Russian oil
Russian businesspeople have begun staying at the island's leading hotel, where rooms cost about $40 a night the report adds. Their destination is almost always the local oil terminal, which changed ownership in mid-2024.
Iran, Russia close in on final gas trade deal, oil minister says
Iran and Russia are close to finalising a long-term gas trade agreement after resolving most of the contract’s key provisions, Iranian Oil Minister Mohsen Paknejad said following talks in Tehran with Russian Energy Minister Sergei Tsivilev.
OPEC’s leverage narrows as war and exits reshape supply
Sanctions on Iran, war‑time disruptions and the UAE’s departure from OPEC have eroded the cartel’s capacity to shape prices, leaving it increasingly reactive and internally constrained
Russian fuel prices jump 20% in first week of July
Central Asia battles to stop fuel squeeze turning into supply shock
Sustained Ukrainian attacks on Russia’s refineries increasingly hitting motorists across region.
Europe is heading for gas volume crunch this winter, Eni chief warns
Europe is heading towards a shortage of physical gas supplies rather than another spike in prices, according to the head of Italy's energy major Eni, who warned that the continent faces its tightest supply buffer since the 2022 energy crisis.
Fuel crisis pushes Russia to ban diesel exports
ING: Oil bounces on Persian Gulf re-escalation
The re-escalation of fighting in the Persian Gulf in the last days has reignited supply concerns, pushing oil prices higher amid questions about the direction of US-Iran peace talks, ING said in a note.
Russian drone strike hits SOCAR fuel depot in Ukraine, Azerbaijan summons Russian ambassador
Greek shipowners earnt $4bn from Russian oil trade sanctions busting - FT
Greek shipping companies have earned at least $3.8bn transporting Russian crude oil since mid-2023, as a leading member of Russia’s shadow fleet, the Financial Times reported on July 7.
Ukrainian drones strike Russia's largest refinery in Omsk, and potentially Yaroslav oil plant
Ukrainian drones reached Russia’s largest oil refinery in Omsk more than 2,500km from the border, while the extent of potential damage from a separate strike on the Yaroslavl refinery remains unclear.
OPEC+ members stick together with latest output raise
OPEC+’s seven core producers have agreed a modest easing of voluntary supply curbs from August, signalling a cautious, coordinated shift in strategy rather than a wholesale change of direction.
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