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State regulation of the oil and gas sector in 2014, prospects for 2015

State regulation of the oil and gas sector in 2014, prospects for 2015

Our traditional series of reports is concluded with the final review of main developments in the Russian oil and gas sector in 2014.

2014 year has not been a typical year for the sector. The oil and gas sector encountered several serious problems simultaneously.

World oil prices dropped sharply. Russia was subjected to tough pressure of western sanctions that naturally mostly affected the oil and gas sector – the flagship of the Russian economy. Besides, the general worsening of the budget situation made the government again resort to its favorite practice of increase in taxes on the FES.

So, what is the standing of the sector in this situation?

Key topics of the report:

  • Production results of the year

    • The analysis of the situation around every major company
    • Reasons for the oil industry having reached its peak
    • Decrease in natural gas consumption as a result of problems with exports
    • The situation around reserves
  • The influence of sanctions on the Russian oil and gas sector

    • Restrictions on supplies of technologies to Russia; influence of this factor on the sector’s development
    • Corporate debts
    • Prospects of development of offshore fields and tight reserves in Western Siberia while western companies are banned to provide corresponding assistance to Russia
    • Nonresidents in the Russian oil and gas sector
    • Emergence of Chinese companies in the Russian upstream segment as the spirit of the times and Russia’s new foreign policy
    • Their possible participation in privatization of Russian assets
  • Tax regulation

    • Main novelties in 2014
    • The struggle around the tax maneuver
    • Excise policies
  • Export policies

    • The accelerated turn towards Asia
    • Breakthrough gas deals with China
    • Serious advance in oil supplies to Asian markets; reserves for exports to Asia
    • The problem of tariff formation and subsidies to the eastern direction
  • The situation on the market of oil products

    • Problems on the domestic market
    • Exports of oil products, changes in their structure
  • Prospects of developments

Contents of the report:

Introduction 3
Chapter 1. RUSSIAN FES UNDER NEW CONDITIONS. INFLUENCE OF SANCTIONS AND DECLINING OIL PRICES 5
Chapter 2. 2014 PRODUCTION RESULTS 17
Chapter 3. TAX REGULATIONS IN THE SECTOR 37
Chapter 4. TURN TOWARDS ASIA: FROM WORDS TO DEEDS 48
Chapter 5. FRAGILE BALANCE OF DOMESTIC AND FOREIGN MARKETS OF OIL PRODUCTS 57
MEDIUM-TERM FORECAST OF DEVELOPMENTS 64
Date of release: January 26, 2015

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”:

Services and Mechanical Engineering for Oil and Gas: Are Industry’s Foundations Secure?
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

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

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