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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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Ukrainian drone strikes on Russian refineries drive up petrol prices, shortages looming
Russian wholesale gasoline prices are soaring to record levels following a series of Ukrainian drone strikes on critical refinery infrastructure. Analysts warn that Russia is facing fuel shortages in the coming weeks, Meduza reported on August 21.
Ukraine in talks with Azerbaijan over gas imports for 2025
Novatek’s Murmansk LNG plant delayed to 2032 amid sanctions and infrastructure setbacks
Kazakhstan to pursue reinstatement of $4.4bn fine against Kashagan operator
Authorities in Kazakhstan plan to resume efforts to impose a multibillion-dollar fine on the operator of the country’s 2nd-biggest oilfield Kashagan after a local court annulled the original decision to penalise the consortium led by Eni & Shell.
Kazakhstan’s oil exports to Germany resume after Druzhba pipeline disruption
Kazakhstan’s oil exports to Germany through Russia’s Druzhba pipeline were temporarily halted following Ukrainian drone strikes on infrastructure in Russia’s Tambov region but have since been restored, Reuters reported on August 19.
Kazakh court fines CNPC subsidiary for antitrust violations
The Specialised Interdistrict Court of Aktobe has found SNPS Aktobemunaigaz, a subsidiary of China National Petroleum Corporation (CNPC), guilty of violating antitrust legislation.
LNG vessels move east from sanctioned Arctic LNG 2
Two LNG tankers are moving east towards Asia from Russia’s heavily sanctioned Arctic LNG 2 terminal.
Ukraine drone strike knocks out Russian oil supply to Hungary, Slovakia
Hungary and Slovakia are the only EU member states still heavily reliant on Russian crude.
Russian decree may see ExxonMobil's return to Sakhalin
Italy leads Azerbaijani oil exports in January–July 2025
Italy leads Azerbaijani oil exports in January–July 2025
Kazakhstan oil output falls in July but stays above OPEC+ quota
Kazakhstan produced an average of 1.827mn barrels of oil per day (bpd) in July, a decrease of 36,000 barrels from June, The Astana Times reported on August 15, citing OPEC’s August report.
Azerbaijan’s oil and gas sector contracts in January–July 2025
Azerbaijan’s oil and gas sector contracts in January–July 2025
Environmental activist sues Kazakh energy ministry for disclosure of major oil agreements
Vadim Ni, co-founder of Save the Caspian Sea movement, has filed a lawsuit against Kazakhstan’s energy ministry demanding publication of production sharing agreements (PSAs) for the country’s largest oil projects, Kashagan, Tengiz & Karachaganak.
Iran's First Vice President arrives in Kyrgyzstan for Eurasian Economic Union summit
Iran's First Vice President arrives in Kyrgyzstan for Eurasian Economic Union summit as Islamic Republic expands regional economic partnerships through observer membership.
Russian petrochemical giant Sibur gets an A- global rating and AAA domestic rating from China’s largest rating agency
Russian petrochemical producer Sibur Holding has been assigned long-term credit ratings by the largest Chinese rating agency CSCI Pengyuan of A- on the international scale and AAA on the domestic scale, with a “stable” outlook,
COMMENT: What is Rosneft’s flagship Vostok Oil Project seeking to achieve?
Russia’s oil industry enjoyed a renaissance between 2008 and 2018 when about 30 new oil fields came online, significantly boosting production. The Vostok Oil fields hold some 45bn barrels of oil.
Saudi oil pricing manoeuvre may undermine secondary sanctions against Russia
Saudi Arabia's oil pricing increases for Asian buyers could boost Chinese purchases of discounted Russian crude, potentially undermining US secondary sanctions against Moscow's energy sector.
Uzbekistan’s Bukhara refinery cuts AI-92 fuel price, Fergana ramps up jet fuel production
Uzbekistan’s Bukhara Oil Refinery has cut the wholesale price of its AI-92 gasoline to UZS 9,400 ($0.75) per litre, lowering the starting price per tonne by 1.97% from UZS 12.881mn to UZS 12.628mn ($1,020 - $1,003),
Kazakhstan weighs Baku–Supsa pipeline option to diversify oil exports
Kazakhstan is exploring the possibility of transporting crude oil through the Baku–Supsa pipeline corridor running from Azerbaijan to the Georgian Black Sea coast as part of its strategy to expand export routes.
Russian fossil fuel revenues slip as CREA calls for tighter price cap enforcement
Russia’s fossil fuel export revenues fell 3% month-on-month in July to €585mn a day, as weaker crude oil and LNG sales offset a sharp rise in pipeline gas income, according to the July monthly update on Russia’s oil trade from CREA.
Naftogaz wins Austrian court approval to seize Russian assets worth over €120mn
Ukraine’s state-owned Naftogaz Group has secured permission from an Austrian court to enforce a $5bn arbitral award against Russia, in the latest step in its effort to recover compensation for the seizure of its assets in Crimea.
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