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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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INPEX to prioritise Kazakh and Azerbaijani oil for Japan amid supply concerns
Japan’s INPEX reportedly plans to prioritise crude oil supplies from Kazakhstan and Azerbaijan for Japanese buyers as concerns grow over disruptions to oil shipments coming out of the conflict-torn Middle East.
Profit of Russian oil major RussNeft down 56% in 2025
Russian oil company RussNeft had its net profit decline 56% in 2025, while corporate governance remains a major concern for the analysts
Georgia's first full-scale refinery targets domestic fuel self-sufficiency and European export
Russia delivers first oil cargo to Cuba, after Trump signals easing of embargo
A Russian oil tanker has delivered the first crude shipment to Cuba in more than three months, after US President Donald Trump signalled he would allow supplies to reach the island despite an effective fuel blockade imposed earlier this year.
Japan steps up efforts at oil diversification
Japan is stepping up efforts to diversify its crude oil supply as the crisis in Iran and the de-facto blockade of the Strait of Hormuz expose the country’s heavy reliance on Middle Eastern imports.
India, Russia eyes resumed LNG trade
India and Russia are preparing to resume direct LNG supplies for the first time since the start of the war in Ukraine.
Sibur pushes on with major investments despite weak market
Russia’s Sibur is pressing ahead with major investment projects despite a weaker macroeconomic backdrop, softer global petrochemical prices and operational disruptions.
Ukraine intensifies attacks on Russian oil terminals
Ukrainian drone strikes on Russia’s Baltic export hubs have knocked out a large share of oil flows, threatening Moscow’s ability to benefit from higher global prices.
Russia reimposes full gasoline export ban amid Middle East crisis
Russia will reimpose a full gasoline export ban from April 1 to curb rising domestic prices.
European gas stocks continue to dwindle despite warm weather
European gas inventories continue to deplete despite warmer weather, as countries and companies seek to cushion themselves from soaring prices on the spot market.
Kremlin says Russia will not target CPC with sanctions despite tensions
Kremlin spokesman Dmitry Peskov said that Russia is not seeking to undermine US business interests in the Caspian Pipeline Consortium (CPC), amid media reports speculating that Moscow could restrict oil flows through the system with sanctions.
Bulgaria backs EU deal on Vertical Gas Corridor to secure regional gas supplies
Operators of the Vertical Gas Corridor have agreed with the European Commission on a long-term framework to secure reliable gas supplies to Southeastern Europe.
Russia to reimpose gasoline export ban from April 1 amid price volatility
Russia will ban gasoline exports from April 1 through July 31, Deputy Prime Minister Alexander Novak has ordered, in a move aimed at stabilising domestic fuel prices and ensuring adequate supply to the domestic market.
Russia selling oil at premium as Hormuz disruption tightens global supply
Russia is now selling oil at a premium on some routes as Strait of Hormuz disruption tightens global supply, Deputy Prime Minister Alexander Novak has said, marking a sharp reversal from post-sanctions discounts.
Kazakh oil export headache worsens as Ukraine targets drone attacks at Russian Baltic ports
Already facing difficulties with Black Sea shipments, Kazakhstan now has a problem with northern route.
KazMunayGas revenue rises 13% in 2025 on Tengiz output growth
Kazakhstan’s state oil and gas company KazMunayGas (KMG) has reported a 13% y/y revenue gain to nearly KZT 9.4 trillion ($18bn) in 2025, supported by higher production at Tengiz oilfield.
Ukrainian drone strikes on Russia's Baltic ports cut exports by 40%
Ukraine intensified long-range strikes on Russian energy and industrial infrastructure, targeting oil export terminals and refineries that have cut exports by 40% in an effort to cut Russia’s ability to profit from windfall oil profits.
Putin warns Russian business not to squander 'Iran war' oil windfall
Putin has warned Russian businesses not to fritter away oil windfall profits as commodity prices surge amid the Middle East conflict, cautioning that market conditions could reverse sharply.
Turkish-owned tanker hit by drone in Black Sea attack
The Altura, a Turkish-owned crude oil tanker, was struck by a drone 15 nautical miles (28 kilometres) off Istanbul’s Bosporus strait while carrying crude oil picked up in Russa, NTV reported on March 26.
Ukraine secures fresh energy backing as EBRD builds 1 GW renewables pipeline
Ukraine is ramping up efforts to strengthen its war-hit energy sector, with the EBRD assembling a renewable energy investment pipeline exceeding 1 gigawatt and approving fresh funding to help the capital prepare for winter.
Russia reportedly considers potential sanctions on CPC pipeline
Russia’s oil and gas sector is said to have discussed the possibility of imposing sanctions on the Caspian Pipeline Consortium (CPC).
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