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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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Kazakhstan blocks further fuel price hikes
Kazakhstan has imposed a moratorium on any further increases in retail prices of AI-92 gasoline and diesel.
Gazprom Neft denies report of new partner joining Salym Petroleum development
“The information does not correspond to reality,” chief executive Alexander Dyukov told reporters on October 16 during Russian Energy Week.
Kazakhstan seeks partner for Shygys hydrocarbon block
Kazakhstan’s national oil company KazMunayGas is seeking a strategic partner for the joint development of its Shygys exploration block in the Aktobe region.
China's Sinopec transfers stake in Russian petchems firm Sibur to Hong Kong unit
Cyprus, once a common jurisdiction for Russian joint ventures, has become less suitable following EU sanctions.
Gazprom sets new record for daily gas flow via Power of Siberia 1
The milestone was achieved on October 16, when exports via the route surpassed contractual levels for the fourth time since the pipeline reached its maximum contracted capacity in December last year.
Caspian Pipeline Consortium to slightly cut oil exports in 2026
The Caspian Pipeline Consortium (CPC), which transports crude oil from Kazakhstan to global markets via a terminal on Russia’s Black Sea coast, plans a minor reduction in exports in 2026 due to maintenance work at several upstream production sites.
Putin reaffirms Russia’s position in global energy production at Moscow forum
President Vladimir Putin reaffirmed Russia’s role as a dominant global energy producer at the Russian Energy Week 2025 forum in Moscow, defending the country’s oil, gas, coal and nuclear sectors while criticising Western restrictions.
Italy remains top buyer of Azerbaijani oil in 2025, followed by Czech Republic and Croatia
Azerbaijan exported 16.99mn tonnes of crude oil and oil products worth $8.94bn in January–September 2025, according to data from the State Customs Committee.
India rejects Trump’s claim it will stop importing Russian oil as Moscow says trade will continue
India has dismissed former United States President Donald Trump’s claim that Prime Minister Narendra Modi agreed to halt Russian oil imports, while Moscow maintained that energy trade with New Delhi would continue as normal.
Commercial gas sales start at MOL-invested Kurdistan gas project
Pearl Petroleum, the operator of the consortium at the Iraqi Kurdistan Khor Mor facility, which includes MOL, announced the start of commercial gas sales, marking a 50% increase in processing capacity.
Venezuela seeks to deepen energy ties with Russia
Venezuela’s Nicolás Maduro has formalised a strategic cooperation treaty with Russia aimed at consolidating political and economic collaboration with Moscow.
EBRD prepares extra €500mn for Naftogaz to secure Ukraine’s winter gas supplies
The EBRD is preparing an additional €500mn financing package for Ukraine’s state energy firm Naftogaz to fund urgent gas imports amid intensified Russian strikes on the country’s energy infrastructure.
Russia to delay refinery maintenance in bid to boost domestic fuel supply
Russia will postpone scheduled maintenance at oil refineries to increase domestic supplies of petrol and diesel, Minister of Energy Sergei Tsivilev said following a meeting with President Vladimir Putin
UK sanctions Russia’s Rosneft and Lukoil
The United Kingdom has imposed sanctions on Russia’s two largest oil producers, Rosneft Oil Company and Lukoil PJSC
OPEC+ unity serves both Russia and Saudi Arabia, Moscow says
A senior Russian official told the Saudi Minister of Energy that coordinated action through OPEC+ aligns with both countries’ interests as the producers manage tensions over how quickly to raise output.
Azerbaijan produces 20.7mn tonnes of oil and 38.2 bcm of gas in January–September 2025
Azerbaijan produced 20.7mn tonnes of crude oil and condensate in the first nine months of 2025, according to operational data released by the Energy Ministry.
Fuel shortages, price rises in evidence across parts of Central Asia amid Ukraine’s attacks on Russian refineries
Fuel shortages and price rises are in evidence across many parts of Central Asia amid the Ukrainian drone and missile attacks on refineries that have cut Russia’s refining capacity, according to an October 15 report from RFE/RL.
Putin ally Timchenko acquires Shell’s former stake in Western Siberian oil fields
Russian billionaire Gennady Timchenko, a close associate of President Vladimir Putin, has acquired Shell’s former 50% stake in the Salymsky oil project in Western Siberia
Russian-Vietnamese JV brings new White Tiger oil platform on stream two months ahead of schedule
Vietnamese-Russian joint venture Vietsovpetro has commenced commercial oil production from its BK-24 wellhead platform at the Bach Ho (White Tiger) oilfield more than two months ahead of schedule, the partnership reported last week.
KazMunayGaz launches new exploration phase at Ozen North block
Kazakhstan’s national oil and gas company KazMunayGaz has reportedly approved the next stage of its exploration programme aimed at expanding long-term production opportunities for its largest wholly owned subsidiary, Ozenmunaygaz.
Kazakhstan’s oil output rises 13% to 75.7mn tonnes in first three quarters
Kazakhstan produced 75.7mn tonnes of oil and condensates between January and September, marking a 13.2% increase compared with the same period of last year, The Caspian Post reported on October 14, citing Energy Minister Yerlan Akkenzhenov.
Russia’s oil revenue slips as refinery outages curb product exports
Russia’s oil revenue declined again in September to $13.35bn, as repeated drone attacks on refineries curtailed fuel exports despite a rise in crude shipments, the IEA reported
India says Mongolia’s first oil refinery expected to start operating in 2028
Mongolia’s first oil refinery, constructed by a project that led by Indian contractors, is expected to begin operations in 2028, India's foreign ministry said on October 14.
Indian state refiners cut Russian crude imports by over 45% amid rising freight costs and US pressure
India’s state-owned oil refiners have reduced Russian crude oil purchases by more than 45% between June and September, redirecting volumes to Iraq as freight costs rise and diplomatic pressure from the United States intensifies
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