Russia & FSU
News
March 14, 2024
The expansion of the Tengizchevroil venture, known as the Future Growth Project, has delayed its full startup into the second quarter of next year. The project has gone well beyond its initial budget of $37 billion and the completion date had already been rescheduled twice from the original plan of mid-2022.
News
March 08, 2024
Located near Yoloten (Mary Province, Turkmenistan), the facilities Petrofac will now support have an equal capacity of 10 Bcm, which delivers 20 Bcm to the export pipeline. The gas field ensures revenue for Turkmenistan’s economy, as well as domestic energy supply.
News
February 20, 2024
Earlier this year, Romania's largest oil and gas company and Oil Dynamics GmbH signed two additional five-year supply and service contracts for over 180 Electric Submersible Pumps (ESP) to Romania
News
February 11, 2024
Block Energy plc, a development and production company in Georgia, announced an Independent Engineering Report indicating over 1 Tct of 2C contingent natural gas resources in the Patardzueli and Samgori fields in license XIB with a Net Present Value of more than $500 million.
News
January 14, 2024
One of the birth places of the oil industry, Azerbaijan was chosen to host COP29 this year. The Caspian Sea nation is the third oil and gas exporter in a row to host the talks after the United Arab Emirates last year and Egypt in 2022.
News
January 10, 2024
Russia’s crude output in December was almost 60,000 bpd lower than the prior month and some 375,000 bpd below the February baseline for its production curbs. Russia has pledged to reduce its crude output by 500,000 bpd until the end of this year.
News
December 31, 2023
The first train of the Novatek PJSC-led Arctic LNG 2 project “has actually started operating,” Russia’s Deputy Prime Minister Alexander Novak said in an interview with state-run Rossiya 24 TV channel on Wednesday.
News
December 31, 2023
Tensions have risen between Baku and Paris after Azerbaijani President Ilham Aliyev warned France against supplying weapons to neighboring Armenia.
News
December 06, 2023
At the center of discussions in Riyadh will be Russia’s role in OPEC+, the Saudi-led alliance between the Organization of Petroleum Exporting Countries and other major oil producers, which last week agreed to extend and deepen production cuts to bolster prices.
News
December 05, 2023
The ACE platform and facilities are designed to process up to 100,000 bopd. The project is expected to produce up to 300 MMbbl over its lifetime.
News
December 05, 2023
ADNOC and SOCAR will explore opportunities to work together to advance blue hydrogen, carbon management and geothermal technologies that can accelerate the decarbonization of energy systems in the UAE, Azerbaijan and other key markets and support their net zero ambitions.
News
December 05, 2023
OPEC+ could take further measures if last week’s production cuts agreement isn’t enough to balance the oil market, said Deputy Prime Minister Alexander Novak.
News
November 10, 2023
The OPEC+ leader is likely to extend its 1 MMbpd production cut — introduced over the summer — into next year, according to analysts at UBS Group AG, FGE, Commerzbank AG and Eurasia Group. RBC Capital Markets says it looks increasingly likely.
News
October 27, 2023
The agreement affirms both parties’ commitment to enhancing Ukraine's energy independence and its transition away from Russian standards, equipment and operations.
News
October 12, 2023
The U.S. Treasury Department sanctioned United Arab Emirates-based Lumber Marine SA, the registered owner of SCF Primorye, and Ice Pearl Navigation Corp, the registered owner of the Yasa Golden Bosphorus.
News
October 09, 2023
Treasury Secretary Janet Yellen said the U.S. is preparing to crack down on evasion of the Group of Seven’s price cap on Russian oil, as recent market prices signal that the mechanism may no longer be working as hoped.
News
October 04, 2023
The leaders of the OPEC+ coalition announced the plans in separate official statements on Wednesday. Riyadh has slashed crude oil production by 1 MMbpd, and Moscow is curbing exports by 300,000 bpd, on top of earlier cuts made with fellow OPEC+ nations.
News
September 11, 2023
The agency said intelligence units carried out a “unique operation” to retake the Petro Godovenets and Ukraina oil and gas drilling platforms, as well as the Tavryda and Syvash facilities.
News
September 05, 2023
The leader of OPEC will continue its production cutback of 1 MMbpd until December, according to a statement published by the state Saudi Press Agency on Tuesday. Russia’s export reduction of 300,000 bpd will be extended for the same duration, Deputy Prime Minister Alexander Novak said in a separate statement.
News
September 01, 2023
Together, they discussed TotalEnergies' projects in Azerbaijan, notably the launch of the second phase of the Absheron development, which will increase the field's production to 5.5 Bcm per year, in line with Azerbaijan's ambition to supply the European market.
News
August 30, 2023
Since Russia started working with OPEC in 2017, Igor Sechin has consistently criticized the cooperation. The Rosneft CEO has pushed instead for the country to increase crude production and defend its market share from other global producers.
