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Rearrangement of Property in the Oil and Gas Sector

Rearrangement of Property in the Oil and Gas Sector

Preparations for the elections are accompanied by quite serious changes in the structure of property of oil and gas companies. After the elections this process will accelerate further. A plan of privatization in the next three years is already drafted; it will directly or indirectly affect assets in the oil and gas sector. There is also a less explicit “creeping privatization”, e.g. when the state transfers licenses on beneficial conditions to private companies removing other bidders from tenders. The number of such cases is growing. Privatization is an old goal of major administrative and political groups and the means of minimizing political risks in the period of enhanced political turbulence. Liberal experts have formed a firm opinion that the state presence in the sector is growing. In reality there is an opposite process. The matter is that new owners of assets are loyal people.

The report elaborates on the following issues:

  • Main beneficiaries of privatization.

  • Privatization plan

    • What will the government sell for sure and what is likely to go on sale in the next three to six years
    • Prospects of selling Rosneft and Gazprom Neft
  • Role of foreign companies in privatization

    • Transfer of licenses to private companies on preferential terms with the aim to sell stakes in them to nonresidents
    • Cases of Trebs and Titov and Yamal projects
  • Possibilities of privatization in the gas industry

    • Prospects of emergence of new “Novateks”
  • The future of large private firms

    • Strategies of LUKOIL and TNK-BP, prospects of changing the companies’ shareholder structure
    • The future of TNK-BP in the context of the Rosneft-BP case
    • A possibility of disclosing real shareholders in Surgutneftegas
  • AFK Sistema’s involvement in the oil business

    • Reasons and future results
    • Consolidation of Bashneft and Russneft

The contents of the report:

Introduction 3
Gazprom: from Gathering to Asset Distribution 5
Consolidation of NOVATEATEK Shares 6
Transfer of Gazprombank to Bank Rossiya Clan 9
Story of Four Yamal Deposits 12
Sale of SeverEnergia 13
Sibneftegaz Story 16
Nortgaz Future 18
Sale of SIBUR Holding 19
Sale of Other Non-Core Assets 21
Role of Nonresidents in Privatization in Russia. Fate of TNK-BP 24
Role of Nonresidents in Privatization 24
BP-Rosneft Deal, Future of TNK-BP 27
Lukoil: diverse developments 34
Sistema in Oil business: New Gatherer of Assets 42
The “Putin Aristocracy” as Important Consequence of Privatization of Property 47
Siloviki Families 48
Families of Bank Rossiya Clan 49
Forecast of Developments 53
Date of issue: June 7th, 2011

If you are interested to obtain please contact » Elena Kim

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

Sanctions against Russian Oil and Gas: Pressure Continued
Arctic: Soviet-type Gigantomania or Breakthrough Project?
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.

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

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