Russia & FSU
News
August 29, 2025
Kazakhstan is preparing to channel some of its national wealth into artificial intelligence infrastructure, joining a global rush where venture capital firms and energy-rich states are betting billions on the sector despite volatility and surging valuations.
News
August 20, 2025
Russia expects India to continue buying its oil, a senior official said, even as the South Asian nation faces higher U.S. tariffs and harsh criticism from Trump administration officials for the trade.
News
August 19, 2025
According to a new Rystad Energy report, Brent oil prices have shifted very little over the last two weeks, staying in the range of $65 to $66 per barrel. The Russia-Ukraine peace talks loom large, with bearish sentiment winning out in anticipation of Russian barrels making a return to global markets.
News
August 18, 2025
Oil rose Monday as U.S. President Donald Trump’s meeting with Ukrainian President Volodymyr Zelenskiy tempered expectations that a resolution to the conflict with Russia will be reached quickly. Talks of a Ukraine war resolution have caused recent market uncertainty, with oil trading in a narrow range.
News
August 07, 2025
Russia’s crude exports have declined slightly since 2022, but the destination has shifted dramatically from Europe to Asia, with China and India now the top importers, according to the EIA.
News
August 04, 2025
OPEC+ closed a two-year chapter in its oil strategy on Sunday with the last in a series of bumper oil production increases. But it left crude traders with a cliffhanger, as delegates emphasized privately that the next move could just as easily be a cut as a hike.
News
August 01, 2025
Partners in Kazakhstan’s second-largest oil field won a case in a local court over environmental fine that could have exceeded $4 billion, the venture said.
News
July 14, 2025
Oil prices dropped as U.S. President Donald Trump reignited his global trade war, while his latest plan to pressure Russia into a ceasefire with Ukraine didn’t include new measures aimed directly at hindering Moscow’s energy exports.
News
July 11, 2025
West Texas Intermediate advanced almost 3% to settle above $68 a barrel after U.S. President Donald Trump said he plans to make a “major statement” on Russia on Monday and reiterated criticism of President Vladimir Putin.
News
June 11, 2025
While the current conflict with Russia may not inspire a great deal of optimism, the chairman of Naftogaz’s Supervisory Board says he can see better days ahead for Ukraine’s upstream sector, once the war comes to an end.
News
June 04, 2025
MOL Group and SOCAR have signed key terms for an exploration, development, and production sharing agreement for a new onshore area covering the Shamakhi-Gobustan regions of Azerbaijan.
News
June 03, 2025
bp and partners have approved phase three of development in the Shah Deniz gas field, the $2.9 billion Shah Deniz Compression project. In addition to the project approvals, bp also announced an agreement with SOCAR to access two blocks in the Caspian Sea for exploration and development.
News
May 30, 2025
Officials say the supply hikes reflect Saudi Arabia’s desire to punish over-producing members like Kazakhstan and Iraq, recoup market share lost to U.S. shale drillers and other rivals, and satisfy U.S. President Trump’s desire for cheaper oil.
News
May 29, 2025
Kazakhstan said it can’t cut oil production and even hopes to increase output beyond planned levels later this year, deepening a stand-off with OPEC+ before the group meets this weekend.
News
May 14, 2025
XRG, PETRONAS and the Turkmenistan State Enterprise Hazarnebit have signed a new Production Sharing Contract (PSC) with the State Concern Turkmennebit for the offshore “Block I” gas and condensate fields in Turkmenistan.
News
May 08, 2025
Kazakhstan, which has created tensions within OPEC+ by consistently breaching its production limit, has no plans to cut oil output in May. The country’s Energy Ministry said in an email that it plans to pump the same levels of crude as in April.
News
April 28, 2025
Russia’s oil producers have been drilling wells at a pace not seen in at least five years as the nation readies for both a loosening of OPEC+ output limits and the possibility of relief from some international sanctions over its invasion of Ukraine.
News
April 23, 2025
OPEC+’s audacious bid to punish its oil-quota cheats prompted a renewed plunge in crude on Wednesday, amid growing tensions with Kazakhstan. Kazakhstan Energy Minister Erlan Akkenzhenov appeared on Wednesday to reject pressure to bring output in line with OPEC+'s quota.
News
April 03, 2025
In a conference Thursday, OPEC+ was expected to simply remind errant members to respect output limits, ahead of confirming its existing plan to gradually raise production. Instead, they delivered a major shock — increasing supply by three times the planned amount in May in what delegates described as a deliberate effort to drive down prices.
News
March 27, 2025
Block Energy plc, the production and development company focused on Georgia, has announced its acquisition of a 10% participating interest in the XIQ Production Sharing Contract (PSC).
