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Global Market of Energy Resources: Main Development Trends and the Role of Russian Companies

Global Market of Energy Resources: Main Development Trends and the Role of Russian Companies

The modern world is no longer divided into a capitalist and a socialist camp. Yet division itself is not gone. In the context of intensifying hunger for hydrocarbons, the division into the «Upstream World» and the «Downstream World» becomes increasingly obvious.

Nations that are the primary consumers of energy resources have too scanty reserves of oil and notably gas. And vice versa: nations possessing reserves are not in the lead as their consumers. As a result, these two worlds profess absolutely different strategies. The first spare no effort to gain access to reserves and the second to gain an end-user market share. Naturally enough, both processes continue on a very dramatic scale.

Western corporations are making active attempts at fighting the «resource nationalism» while Russian, Middle Eastern, and Latin American ones are struggling against «energy snobbery». Under way is aggressive struggle for assets where stakes are too high.

The Report offers an in-depth discussion of the following subjects:

  • Foreign companies facing increasingly tougher working conditions in upstream as a global trend

    • A comparative analysis of the criteria for non-residents to gain access to upstream in Latin America, the Persian Gulf, Africa, and Central Asia
  • Tax treatment in the industry

    • Future of concessions and production sharing agreement
    • Change of tendencies in the fiscal policy of reserve-rich countries
  • Serious change of access to assets in the downstream segment for non-residents

    • Large-scale change of foreign investment legislation in the US, the European Union, and China
    • Comparative analysis
  • Medium-term forecast of developments

The contents of the report:

Introduction. Two Energy Poles: the World of Reserves and the World of Consumption 2
Chapter 1. Rules of the Game in the World Upstream 6
1.1. Latin American Countries 7
1.2. African Countries 15
1.3. Persian Gulf Countries 24
1.4. Central Asian States 35
Chapter 2. Rules of the Game in the World Downstream 45
Chapter 3. New Working Conditions in the Russian Market. Asset Exchange Process and Partnership between Russian and Foreign Companies in International Projects 48
Conclusion. Are the Two Worlds Monolithic? 54
Date of issue October 27, 2008

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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