... recent IMEMO RAN conference which I attended, the 'superstar' energy expert Daniel Yergin has reiterated this fact numerous times. Thus, the rational thing to do would be to reduce costs as much as possible to increase competitiveness of Russian gas and oil – for instance, the taxation system needs a lot of attention as it is a very heavy burden on the energy industry. The current tax burden of 73% per barrel is unlikely to increase, but it is very high, in contrast the USA's 44% out of ...
... everything is great in regards to the USSR fields as everything there is developed for export, but practically all of Russia's new projects are too expensive; in certain areas the most expensive in the world. As a result, in perhaps 10 years, Russian oil and our gas will be amid the most expensive on the market. Hence, any fluctuations on the market will have a direct effect on the economy as returns will be forgone. So the question of innovation is no longer about aesthetic aspects of being the most ...
... long, EU-Russian relations have been notoriously bad – with low-level bureaucratic management overriding strategic considerations and genuine political cooperation. Just as a number of national governments in the EU have turned increasingly anti-Russian, so too Moscow has become disillusioned with Brussels and shifted attention to its Eurasian backyard and beyond.
Oil prices are part of the equation but by no means the main reason. Alternative projects such as the proposed Nabucco pipeline that seek to circumvent Russia are built on financial fantasy and betoken of a short-termism that is strategically reckless....
... around 12% of the overall Russian total. As a result, proven oil reserves will rise by 10-13 billion tonnes and gas will rise by 16 trillion cubic meters.
Problems with Heading East:
The East Siberian and Far East regions hold about ¼ of Russia’s oil and gas proven reserves, but these regions are extremely underdeveloped making casing, extraction and transport difficult. Key gas fields, like Kovykta, are isolated by taiga or encircled by canyons – these are not Gazprom friendly areas due ...
... of oil to China along ESPO oil pipeline in 2014, and will gradually increase such shipments to 15 million tonnes by 2018; which is huge news for players involved (See: Interfax). Due to these deals China will overtake Germany as a top destination for Russian oil. USA and China currently both import around 6 million barrels of oil per day, with latter forecasted to overtake the long-time leader due to its booming transport sector (See: WashingtonTimes). If deal with Russia goes to plan, it should overtake ...
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with them. Russia’s exports differ widely country-to-country. Exports to the United Arab Emirates, for instance, predominantly comprise precious metals and stones, metal products, machines, equipment, and transport vehicles, whereas the bulk of Russian exports to Morocco are oil and petroleum products, coal, sulfur, metals and chemical goods.
Arab countries continue to show a demand for Russian-produced arms and armaments, traditionally known for their high durability in comparison with Chinese products, and for being cheaper ...
Alongside my typical journalistic duties at ‘Oil & Gas Eurasia Magazine’, I tend to daily scan both Russian and Western media outlets, news stands, twitter profiles, oil companies press releases and alike - for major news, interesting articles and possible leads within the energy industry. Today, I want to share with you some of the findings in a liberal ...
... into it, but its got to be profitable, as otherwise there is no point of getting involved with other countries, unless there is at least a bit of profit. Also, we know Russia is a massive producer in terms of oil and gas, but it does have a problem. Russia does not actually have enough (oil and gas) to meet domestic demand as well as its contractual obligations it has already signed, particularly with the E.U., without having to raise prices domestically which causes political problems. This is why Russia wants to maintain access to ...
... consumption, but most of this increasing consumption is due to wastage and old infrastructure.
Russia will need to carefully consider the trade-off amid maintaining its current levels of production and the cost of developing new sites. Officially, Russia has said that oil exports will fall a little, and production is already at full capacity, but the main question for oil will be – would it be worth it to develop new sites? In regards to gas, capacity will remain steady, but a similar question should be posed....
... will be no immediate Mayan apocalypse as some may have felt, but in today’s world things change quickly making one ponder – what must be done to stop any changes, how to adapt to them if they occur and what if sceptics are right?
«Oil and Gas Dialogue: Russian Gas in the European Market» Joint International Forum held at IMEMO RAN conference hall on 7th December 2012; moderated by Ivanova N. I., RAN Academic and Associate Director of IMEMO RAN, and Eric Dam, General Director of Energy Delta Institute....
