Category: Oil & Gas

In Context: Russia’s 2035 Energy Roadmap – Part 3: Gas Sector

The implementation of decarbonization policy over the next 20 years may shift the focus of Russia’s geological exploration industry from the search for oil deposits to the search for gas deposits, although the Energy Strategy (ES-2035) has yet to factor in an increased role for gas.

Oil Update: Oil Price Is Lining Up Nicely for Russia

Strong price rally. The price of Brent has more than doubled since the start of November and is up almost 20% year-to-date. The last time Brent traded at this level (January 2020) the ruble-dollar rate was at RUB61.5/US$. The reason it is not back at that level is at least partly because of continuing sanctions concerns.

Russian Oil & Gas Industry Review

In this review, we look at the development of Russia’s most important oil and gas corporations from an ownership, business management and political relationship perspective. We consider what have been the most important events and factors that have shaped their respective histories and explain how each company, and their key managers/owners are positioned today.

OPEC+ passes first test – but more challenges to come

The price of Brent rallied 121% from the April 24th low to the June 8th high. The key drivers of that rally include optimism that the demand loss in 2020 will be less than feared and the positive actions and statements from the OPEC+ members. The agreement to extend the period of deepest cuts for an extra month shows a firm commitment by the major producers to maintaining the OPEC+ structure.

Oil, OPEC+ & Russia

Major economies moving towards an easing of the lockdown has raised hope that oil demand destruction will be less and will recover more quickly. The OPEC+ deal started May 1st with strong political commitment from the major producers.

Oil, Russia and OPEC+: Survival of the fittest

Brent crude has rallied by over 60% from the low set in late April. The price is still over 50% down since the start of the year. The reason for the rally is because of optimism that demand destruction will be less than feared, as more countries announce the start of lockdown easing, and also because of the start of the new OPEC+ and G20 supply cut agreement.

The Resurrection of OPEC+: Real Détente or a fudge?

Moscow and Riyadh have resolved the dispute that threatened to kill OPEC+. Both sides reached a compromise regarding base production and future cuts that allowed the OPEC+ Group to agree an aggregate cut of 9.7 million barrels, starting May 1st. These cuts will be scaled back with an agreed timetable and will end in December 2022. But the members have agreed to a review on June 10th.

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