Russia Oil and Gas Report Q3 2016

Date: May 4, 2016
Pages: 131
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: Oil production continues to outperform as a weak rouble allows for maintained capex and lower operating costs. Gas production, which underperformed in 2015, will improve as domestic and foreign demand pick up.

The main trends and developments we highlight for Russia's oil & gas sector are:
  • Crude and condensate production averaged 10.9mn b/d in Q116, up from 10.7mn b/d in Q115. We forecast production to increase from 2015 and remain largely flat to 2018.
  • Gas production was flat in 2015 (635bcm) and remains on par with 2015 output in Q116.
  • The finance minister expects oil export duty to drop to the planned 30% in 2017, from 42% currently.
  • Refined fuels consumption fell heavily in 2015 given the recession, and is expected to be weak in 2016
.This will allow for increased exports, particularly diesel.
  • Refinery upgrades to Euro-V standards are now complete among major refiners. Euro-V standards are due to be implemented nationwide from August 1 2016.
  • Mineral extraction tax for non-liquefied gas exporters (or Gazprom) will increase in 2016, generating around RUB100bn (USD1.62bn) for the government.
BMI Industry View
  Table: Headline Forecasts (Russia 2014-2020)
Oil & Gas SWOT
Industry Forecast
Upstream Exploration
Upstream Projects
  Table: Russia - Major Upstream Projects
Upstream Production - Oil
Latest Updates
Structural Trends
  Table: Russia Oil Commitments To China
  Table: Oil Production (Russia 2014-2019)
  Table: Oil Production (Russia 2020-2025)
Upstream Production - Gas
Latest Updates
Structural Trends
  Table: Gas Production (Russia 2014-2019)
  Table: Gas Production (Russia 2020-2025)
Latest Updates
Structural Trends
  Table: Major Refinery Upgrades Completed And Underdevelopment
  Table: Crude And Fuel Export Duty Changes Now Frozen At 2015 Levels
  Table: Refining Capacity and Refined Products Production (Russia 2014-2019)
  Table: Refining Capacity and Refined Products Production (Russia 2020-2025)
Refined Fuels Consumption
Latest Updates
Structural Trends
  Table: Refined Products Consumption* (Russia 2014-2019)
  Table: Refined Products Consumption (Russia 2020-2025)
Gas Consumption
Latest Updates
Structural Trends
  Table: Gas Consumption (Russia 2014-2019)
  Table: Gas Consumption (Russia 2020-2025)
Trade - Oil
Latest Updates
Structural Trends: Crude Oil Trade
  Table: Russia - Oil Commitments To China
  Table: Crude Oil Net Exports (Russia 2014-2020)
  Table: Crude Oil Net Exports (Russia 2020-2025)
Structural Trends: Refined Products Trade
  Table: Refined Fuels Net Exports (Russia 2014-2019)
  Table: Refined Fuels Net Exports (Russia 2020-2025)
Trade - Gas (Pipeline And LNG)
Latest Updates
Structural Trends
  Table: Gas Net Exports (Russia 2014-2019)
  Table: Gas Net Exports (Russia 2020-2025)
Industry Risk/Reward Index
Central And Eastern Europe Oil & Gas Risk/Reward Index
  Table: CEE: High Risk, Low Reward
  Table: CEE Upstream, Downstream And Overall Risk/Reward Index
Upstream: China Still The Target Market
  Table: CEE Upstream Risk/Reward Index
Downstream: Turkish STAR Only Bright Spot In Weak Market
  Table: CEE Downstream Risk/Reward Index
Russia Risk/Reward Index
Upstream Index - Rewards
Upstream Index - Risks
Downstream Index - Overview
Market Overview
Russia Energy Market Overview
Regulatory Structure
Fiscal Regime
  Table: Export Duty
Licensing Regime
Oil & Gas Infrastructure
Oil Refineries
  Table: Major Refineries - Russia
  Table: Russian Refinery Upgrades
Oil Terminals/Ports
  Table: Russian Oil Ports
LNG Liquefaction Terminals
  Table: Current And Proposed LNG Terminals
LNG Import Terminal
Planned Oil & Gas Pipelines
  Table: Major Proposed International Pipelines
Competitive Landscape
  Table: Russian Refining Capacity By Player
Company Profile
  Table: Major Current Assets
  Table: Over 200bcm Of Future Growth Assets
  Table: Gazprom - Key Financial Data
  Table: Major Assets
  Table: Rosneft Revenues & EBITDA RUB bn
  Table: Major Assets
  Table: Key Financial Data
  Table: Major Assets
  Table: Novatek - Key Financial Data
Regional Overview
Central And Eastern Europe Oil & Gas Regional Overview
Oil Production: Oil Powerhouses Falter On Weak Prices
Oil Consumption: Short-Term Weakness As Russia Struggles
Refining Capacity: Modernisation Key To Competing
Natural Gas Production: Gas Ramp-Up Demand Dependent
  Table: Central Asia-China Gas Pipeline Expansions
Gas Consumption: Demand Falters On Struggling Economies
  Table: Central & Eastern Europe Oil & Gas Production & Consumption, Refining Capacity & Trade
  Table: Glossary Of Terms
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Bmi's Oil & Gas Upstream Risk/Reward Index
  Table: Weighting
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