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Emergence of a Putin-sponsored Oil and Gas Aristocracy: Clans at War for Property

Emergence of a Putin-sponsored Oil and Gas Aristocracy: Clans at War for Property

Putin is imputed to launch active nationalization of the oil and gas sector. In reality we see a reverse process – assets are being privatized or prepared for privatization.

Thus, the task to nationalize the sector seems to be not on the agenda any longer. Nationalization was an interim transit phase in the process of changing owners in the oil and gas industry.

At first, assets were taken by the state and now they are to be transferred to other private owners. However, this process is not very fast.

Nowadays state companies receive a lot of privileges and licenses, which is like taking assets from one state pocket and putting them into another. However, there are private shareholders practically in all state companies and their stakes may rise. This is another way to privatize the industry.

In a new report of the National Energy Security Fund you will find detailed answers to the following questions:

  • Main participants of the property redistribution process

    • Changes in the layout of forces of major administrative and political groups
  • Conflicts between Gazprom and Rosneft over assets

    • How state companies are “swelling” on the eve of a new stage of privatization
  • Surfacing of “oil and gas Atlantis”

    • Unexpected exposure of shadow empires
    • Motives and consequences of this process
    • Sources of money to buy out state property
  • Creation of family clans in the oil and gas sector

    • Prototype of a new aristocracy inheriting assets
  • Surfacing of “oil and gas Atlantis”

    • Struggle for Gazprom Neft
    • Transfer of assets out of Gazprom
  • The future of private oil and gas companies

    • Strategy of their survival
    • Secrets of Surgutneftegaz
    • LUKOIL’s path
    • Possible fate of the Tatar and Bashkir oil and petrochemical sector


    The contents of the report:

    Introduction.New Aristocracy and Its Resource Base 3
    Chapter 1. Gazprom and Rosneft: From Nationalization to Gradual Privatization 8
    1.1. Playing Shares 8
    1.2.Readying for Privatization of Assets 10
    1.3. Temporary Beneficiaries from Sales of Gazprom’s Property 12
    1.4. Rosneft on Its Way to New Selling of Shares 15
    Chapter 2. Bank Rossiya Group’s Assets Becoming Known to the Public: Preparation for New Acquisitions 18
    Chapter 3. Oil and Gas Families 29
    Chapter 4. Possible Victims: the Fate of Independent Oil Firms 32
    4.1. LUKOIL: Friendship with Non-residents 32
    4.2.TNK-BP: Shield From the Past 36
    4.3. Russneft: Things Haven’t Got Forward an Inch 41
    4.4. Bashkiria Oil Assets: New Transit Proprietor 42
    Chapter 5. Optimal Scenario of Developments For the Current Elite. 49
    Date of issue October 27, 2009

If you are interested to obtain please contact » Elena Kim

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

Outlook for Russian LNG Industry
Russian Energy and West One Year after Ukraine Conflict Began: Are There Connections Still?
Green Agenda in Russia during Bitter Conflict with West
After February 2022 the agenda was radically rewritten. Western companies began leaving Russia en masse, economic relations with the West were drastically reduced, and the Russian economy began to be pushed violently from the global economic space, hemmed in by sweeping sanctions. All that was, to put it mildly, not the best background for talking about ESG. Especially because tasks of survival and stability under unprecedented pressure became the priority in the economy. In late 2022, however, attempts to reanimate the ESG agenda already became obvious. The message is put across insistently that it is important to Russia regardless of the foreign policy situation. While earlier the “green pivot” was seen as an opportunity to attract Western investors and their technological solutions to Russia, now Keynesian reliance on domestic manufacture is discussed.
Oil and Gas Sector Regulation in 2022 and Prospects for 2023
Gazprom at the Forefront of Economic and Political Battles with Europe
Gazprom is being actively thrown out of the market. Its annual supplies to Europe have shrunk from the previous 150 billion to 65 billion cubic metres of gas. European officials assure that they have already learnt how to live without Russian gas, so they will bring its purchases down to but nominal values in 2023. Their main hope is liquefied natural gas. Today the EU must make a crucial decision: whether it has passed the point of no return in gas business with Russia and whether it is certain that its economy will endure without supplies of Russian pipeline gas. Or, on the contrary, Europe will realise after all that the gas balance will not be achieved and the payment for so headlong a rush for LNG will be disproportionate. Assessment of the potential volume of LNG that will appear on the market before the end of the current decade will be the most important factor for making the decision.

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