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Government regulation of the oil and gas industry in 2007 and future considerations for 2008

Government regulation of the oil and gas industry in 2007 and future considerations for 2008

By longstanding tradition, at the end of each year the National Energy Security Fund draws results of the Russian fuel and energy industry. We focus on political influence on the industry. Clashes between power cliques for oil and gas property escalate ahead of the presidential election. Political future of the country is not quite certain, which encourages Kremlin’s powerhouses fight for assets. State management of the industry is changing.

The study dwells on the following subjects:

  • Winners and losers of the year

    • Companies and their heads that have boosted their influence on the industry and fading stars
    • Standoff between Gazprom and Rosneft, establishment of the “exporters group,” the fate of the last standing private oil and gas corporations.
    • Future development of medium and small size oil and gas firms.
  • Transformation of oil and gas management system

    • Administrative reform and the fate of the governmental services in charge of oil and gas
    • Rotations and structural changes in the government’s oil&gas-regulating services.
  • Tax regime for oil and gas companies

    • The first experience of differentiated mining tax and other economic innovations.
  • Foreign companies in the Russian oil and gas industry

    • Reasons for success of some of them and failures of the others
    • Shtokman against Kovykta
  • Pipeline wars and new export projects

    • Escalating competition for Central Asia and the Caspian Region
    • Obstacles on the way of direct hydrocarbon supplies to Europe
    • Competition for transit in the former Soviet republics
  • Forecast for 2008

    • New Putin’s energy project
    • Possibility of a new wave of property redistribution
    • New system of political management in the oil and gas industry

The content of the report:

Introduction 2
Chapter 1. Key Factors for Russian O&G Industry Development in 2007 3
Chapter 2. Transformation of Oil and Gas Management System 8
Chapter 3. Competition for Assets: Winners and Losers 15
Chapter 4. Tax Regulation in the Industry 24
Chapter 5. General Results of the O&G Market in 2007 29
Chapter 6. Status of Foreign Companies in the Russian O&G Market 33
Chapter 7. Main Export Projects 40
Chapter 8. Forecast for 2008 48

Issue date 26th December 2007

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

State regulation of the oil and gas sector in 2018, prospects for 2019
Gazprom on Path to New Reality
Looking for Best Tax Treatment of Oil and Gas: Fiscal Experiments Continued
The subject of taxation became the absolute hit of 2018. The government once again decided to rewrite the rules of the game. President Putin’s new inauguration decree served as the main pretext. It turned out that about 8 trillion roubles extra was necessary for the new national projects announced. The Cabinet did not take long to decide where the funds should be taken. The result was acceleration of the so-called tax manoeuvre started as far back as 1 January 2015. It suggested shifting the tax burden to the wellhead: the effect on the state budget of gradual abandonment of the export duty will be more than compensated for by quicker growth in mineral resources extraction tax (MRET). The laws on tax reform have already gone through the parliament and will take effect as of next year. This means nothing good for companies.
Results of Pivot to the East in Oil and Gas Sector
New government structure and FES: Reformatting the state system administrating the sector

All reports for: 2015 , 14 , 13 , 12 , 11 , 10 , 09 , 08 , 07

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