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    Russian Oil and Gas Industry: News

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    higurashihougi

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    Re: Russian Oil and Gas Industry: News

    Post  higurashihougi on Thu Apr 28, 2016 4:46 am

    As far as I know, Russian oil are sold in dollar but the price are fixed to ruble.

    Which means, while Russian oil in USD may up and down, Russian oil in ruble stay roughly the same.

    Which means, oil price in USD is controlled by ruble exchange ratio. And by Russian goverment.

    Pls correct me if I am wrong. pwnd pwnd
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    sepheronx

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    Re: Russian Oil and Gas Industry: News

    Post  sepheronx on Thu Apr 28, 2016 2:54 pm

    ^
    It is for now, but:
    Decade-Old Dream Realized as Russia to Price Its Own Oil
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    max steel

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    Re: Russian Oil and Gas Industry: News

    Post  max steel on Thu Apr 28, 2016 6:59 pm

    sepheronx wrote:^
    It is for now, but:
    Decade-Old Dream Realized as Russia to Price Its Own Oil

    WHAT A CONICIDENCE!

    was going to post the same article : http://www.bloomberg.com/news/articles/2016-04-28/putin-s-decade-old-dream-realized-as-russia-to-price-its-own-oil.
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    George1

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    Re: Russian Oil and Gas Industry: News

    Post  George1 on Mon Jul 25, 2016 3:13 pm

    Russian Gas Production to Stand at Same Level in 2016 as Previous Year

    According to the Russian energy minister, the gas production in the country will stand at around the same level in 2016.

    MOSCOW (Sputnik) — Russia's Ministry of Energy expects that the gas production in the country will stand at around the same level in 2016 as in 2015, Energy Minister Alexander Novak said Monday.

    "We plan to reach approximately the same levels by the end of the year as we did last year," Novak said during a meeting with Russian President Vladimir Putin.

    Moreover, according to Novak, Russia will gain full independence in oil production from imported technologies by 2019.

    Novak said Gazpromneft is conducting trial tests of specimens developed by Russian enterprises at the Vyngapurovsk field.

    "After these pilot tests, industrial production will be fully established by 2019, in other words we will completely eliminate dependence on imported technologies," he underscored.

    The minister noted that work was underway to develop software and telecommunications equipment previously bought abroad.

    http://sputniknews.com/russia/20160725/1043592358/minister-gas-russia-production.html


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    higurashihougi

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    Re: Russian Oil and Gas Industry: News

    Post  higurashihougi on Wed Jul 27, 2016 4:14 pm

    Back to business.

    https://www.rt.com/business/353350-russia-turkish-stream-negotiations/?utm_source=browser&utm_medium=aplication_chrome&utm_campaign=chrome

    Turkey has confirmed it’s ready to continue negotiations on the Turkish Stream gas pipeline project, said Russian Deputy Prime Minister Arkady Dvorkovich as representatives from the energy ministries of the two countries met on Tuesday.
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    GarryB

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    Re: Russian Oil and Gas Industry: News

    Post  GarryB on Thu Jul 28, 2016 11:47 am

    Good.

    This deal was going to be good for Turkey and for Russia... I would like to see it go ahead.

    I suspect the whole idea is to separate itself from the whining EU... deliver it to Turkey and they can deliver it to EU on their terms... ie not Russias problem any more.



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    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Sun Aug 14, 2016 10:09 am

    Sad news for Nord Stream 2

    Poland Roadblocks Russia's Nord Stream 2 Pipeline

    Project Canada

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    Re: Russian Oil and Gas Industry: News

    Post  Project Canada on Sun Aug 14, 2016 10:48 am

    Austin wrote:Sad news for Nord Stream 2

    Poland Roadblocks Russia's Nord Stream 2 Pipeline

    such an unfortunate development, USA and its dog Poland won't stop in their dirty tricks to sabotage Russia whenever possible
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    kvs

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    Re: Russian Oil and Gas Industry: News

    Post  kvs on Sun Aug 14, 2016 2:42 pm

    Austin wrote:Sad news for Nord Stream 2

    Poland Roadblocks Russia's Nord Stream 2 Pipeline

    Poland and its master, Uncle Scam, are under the delusion that Russia gives a f*ck. Transit of gas via Banderastan
    will stop by 2018 regardless of the completion of Nord Stream II or not. These clowns actually expect Russia to subsidize
    the butchers in Kiev. Russia is not that desperate and not that stupid.
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    kvs

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    Re: Russian Oil and Gas Industry: News

    Post  kvs on Sun Aug 14, 2016 2:45 pm

    BTW, please do not link to Forbes, cut and paste some relevant quotes. It is a garbage website that insists adblocking software be
    disabled. I am not going to expose my computer to malicious javascript that is part of these precious ads that installs malware. I have
    burned myself once already by disabling adblocking on a website.
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    kvs

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    Re: Russian Oil and Gas Industry: News

    Post  kvs on Sun Aug 14, 2016 3:20 pm

    http://www.nord-stream2.com/media-info/news/signatories-of-nord-stream-2-shareholder-agreement-withdraw-merger-clearance-application-in-poland-22/

    Signatories of Nord Stream 2 Shareholder Agreement Withdraw Merger Clearance Application in Poland

    -Implementation of Nord Stream 2 proceeds as planned
    -Prospective Shareholders to continue close cooperation

    Aug. 12, 2016 | Zug | The signatories of the Nord Stream 2 AG shareholders’ agreement have today withdrawn their application for a merger clearance proceeding in Poland. This decision does not affect implementation of the project, which continues as planned.

    The decision only affects the acquisition of the existing project company’s shares by Gazprom’s Western partners. The current ownership of shares in Nord Stream 2 AG remains unchanged. The implementation schedule of the Nord Stream 2 project also remains unchanged. The prospective shareholders will continue their close cooperation and their mutual efforts towards strengthening the security of the European gas supply.
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    George1

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    Re: Russian Oil and Gas Industry: News

    Post  George1 on Tue Aug 16, 2016 2:41 pm

    Rosneft Discovers New Oil Deposit in Russia's Irkutsk Region


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    kvs

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    Re: Russian Oil and Gas Industry: News

    Post  kvs on Thu Aug 18, 2016 1:32 am

    Looks like Uncle Scam's poodle Poland managed to break up the Nord Stream consortium:

    http://www.naturalgaseurope.com/gazprom-soldiers-on-with-nord-stream-ii-31101

    Poland has achieved a significant victory in its battle against German and Russian energy collaboration. Daunted by Polish regulations, five international giants in the natural gas industry announced Aug. 12 that they had pulled out of an agreement to join Russian state-owned gas company Gazprom in the Nord Stream II AG consortium.

    Time for Russia to take action:

    1) The Duma should pass legislation that no gas for any reason should transit Banderastan (formerly known as Ukraine)
    on the basis of gross human rights abuses, war crimes and aggression (e.g. attempted terrorism) against Russia.

    2) All gas transit through Banderastan should stop in January 2016.

    3) Let the EU find the alternative sources of gas (e.g. LNG) that it is always yammering about.


    Project Canada

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    Re: Russian Oil and Gas Industry: News

    Post  Project Canada on Fri Aug 19, 2016 4:21 pm


    Ukrops say construction of Nord 2 cannot proceed Without their Permission Laughing



    https://topwar.ru/99515-kiev-obyavil-chto-stroitelstvo-severnogo-potoka-2-bez-ego-razresheniya-nevozmozhno.html
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    George1

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    Re: Russian Oil and Gas Industry: News

    Post  George1 on Sat Aug 20, 2016 4:56 pm

    Nord Stream-2 implemented as planned — Gazprom's deputy head

    Earlier, Poland said a joint venture may limit competition, claiming it would be a red light for establishment of a joint venture

    MOSCOW, August 20. /TASS/. The Nord Stream-2 construction project is being implemented as planned, and Gazprom’s foreign counterparts consider options to participate in its financing, Gazprom’s Deputy CEO Alexander Medvedev told TASS on Saturday.

    Earlier, Poland said a joint venture may limit competition, claiming it would be a red light for establishment of a joint venture.

    "There were no bans, and we answered the questions regarding the claims," Gazprom’s official said. "The decision was we shall not wait, judging by the moods. Thus the Nord Stream 2 company does exist, it works."

    This was his reply to a question about implementation of the project after the project counterparts withdrew the notification from the Polish regulator concerning establishment of a joint venture for the project.

    "How the foreign counterparts will participate - this is what they will decide themselves," the official continued. "They will be searching for options to join the project. We move forward according to the plan. Our counterparts are sharing our vision."

    Gazprom and its European partners Engie, OMV, Shell, Uniper and Wintershall submitted earlier an application for establishment of the joint venture to antimonopoly regulators in Germany and Poland. Germany approved the decision but the Polish regulator presented objections.

    Companies later withdrew their application for the joint venture under the Nord Stream-2 furnished to the Poland’s authority.

    The Nord Stream-2 project includes the construction of two lines of the offshore gas pipeline with a total capacity of 55 bln cubic meters of gas a year from Russia to Germany under the Baltic Sea, in addition to the existing two lines. The project is to be implemented by the new engineering company New European Pipeline AG. The stakes of partners in Nord Stream 2 AG will be distributed as follows: Gazprom will hold 50%, while Uniper, BASF/Wintershall, Shell, OMV and ENGIE will own 10% each.


    More:
    http://tass.com/economy/895169


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    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Wed Aug 31, 2016 11:46 am

    Gazprom: Western Route gas contract with China depends on volumes

    https://in.rbth.com/news/2016/08/30/gazprom-western-route-gas-contract-with-china-depends-on-volumes_625483

    Gazprom positively assesses progress in negotiations on the "Western Route" gas supply contract with China. Document signing depends on volumes, rather than on the price, Deputy Chief Executive of the Russian holding Alexander Medvedev told TASS on Tuesday.

    "The process is underway; working groups are meeting. The issue is regarding volumes and not the price. I believe negotiations are at an advanced stage. Prospects are good," Medvedev said.

    Gazprom and China’s CNPC signed heads of the agreement on pipeline gas supplies to China over the "Western Route" (Power of Siberia-2 gas pipeline) in 2015. Deliveries of Russian gas to China over this route may start from May 2019 to May 2021, Chief Executive of Gazprom Alexei Miller said earlier.
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    AlfaT8

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    Re: Russian Oil and Gas Industry: News

    Post  AlfaT8 on Wed Aug 31, 2016 6:58 pm

    Russia Joins the Shale Game After Building Own Technology Thanks to Sanctions

    Russia has made yet another technological breakthrough thanks to the Western sanctions: it has developed its own technologies for the exploration and production of hard to extract shale oil. This advance is even more significant given that the sanctions have stopped Russian oil companies from using western equipment.

    http://sputniknews.com/russia/20160831/1044818976/russia-shale-oil-technology.html

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.
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    PapaDragon

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    Re: Russian Oil and Gas Industry: News

    Post  PapaDragon on Wed Aug 31, 2016 8:58 pm

    AlfaT8 wrote:.................

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.

    It's a good export \ backup option. And they have plenty of ''guinea pigs'' to get pollution data from.

    They may use it or not but it is certainly good thing to have options.
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    kvs

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    Re: Russian Oil and Gas Industry: News

    Post  kvs on Wed Aug 31, 2016 11:20 pm

    AlfaT8 wrote:
    Russia Joins the Shale Game After Building Own Technology Thanks to Sanctions

    Russia has made yet another technological breakthrough thanks to the Western sanctions: it has developed its own technologies for the exploration and production of hard to extract shale oil. This advance is even more significant given that the sanctions have stopped Russian oil companies from using western equipment.

    http://sputniknews.com/russia/20160831/1044818976/russia-shale-oil-technology.html

    Guys, what are your opinions with respects to Russia's shale industry, considering the damage fracking does to the surrounding environment especially ground water pollution, is it wise for Russia to even pursue this.

    US fracking occurs in populated regions such as New York, Pennsylvania and West Virginia in the case of the Marcellus tight gas formation.



    But the Bazhenov formation is in a low population density region.


    Austin

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    Re: Russian Oil and Gas Industry: News

    Post  Austin on Mon Sep 05, 2016 11:56 am

    Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    http://www.bloomberg.com/news/articles/2016-09-05/putin-keeps-faith-in-gazprom-even-after-80-percent-share-crash
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    kvs

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    Re: Russian Oil and Gas Industry: News

    Post  kvs on Mon Sep 12, 2016 11:47 pm

    Austin wrote:Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    http://www.bloomberg.com/news/articles/2016-09-05/putin-keeps-faith-in-gazprom-even-after-80-percent-share-crash

    Gazprom is the biggest natural gas producer on the planet controlling proven reserves that are the biggest on the planet (no, Iran's
    are not bigger than Russia's). Gazprom's share price has been grossly undervalued and two bit outfits like Exxon-Mobil are somehow priced
    vastly higher even though they are literally nothing compared to Gazprom. Putin, Putin, Putin. Idiots who write such headlines
    loudly demonstrate their idiocy.

    http://news.exxonmobil.com/press-release/exxonmobil-announces-2015-reserves-additions

    Exxon-Mobil controls reserves of 24.8 billion oil-equivalent barrels with 59% of this being liquids. (Note that the percentage for
    liquids keeps increasing which indicates long term depletion of real oil assets).

    Gazprom controls 36 trillion cubic meters of natural gas reserves. In just energy terms we have:

    1 barrel of oil = 5,729,000 Btu
    1 cubic foot of natural gas = 1,032 Btu

    1 cubic meter = 35.3147 cubic feet

    so 1 cubic meter of natural gas is 36,445 Btu. Thus Gazprom owns 1.31 x 10^18 Btu (in gas alone) while Exxon-Mobil owns 1.42 x 10^17 Btu.
    Gazprom share price = 138.93 rubles. Exxon-Mobil share price = 87.29 US dollars. So a company with 10% the Btu reserves of Gazprom has
    a vastly higher share price. This demonstrates that share prices mean precisely fuck all.

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    JohninMK

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    Re: Russian Oil and Gas Industry: News

    Post  JohninMK on Wed Sep 14, 2016 10:29 pm

    What's the betting that at or near the pipe bend south, near Bulgaria, there will be an 'emergency' access point. Very Happy

    September 14, 2016 - Fort Russ News -
    - Interfax - translated by J. Arnoldski

    Through diplomatic channels, Gazprom has received the first permission from Turkish authorities to construct the offshore section of the Turkish Stream pipeline, the company’s report says.

    A week earlier, Gazprom reported that it had received the “first permits to realize Turkish Stream” but did not specify the documents. In December 2011, Turkey gave permission for the construction of South Stream in its territorial waters. On June 22nd, 2015, Turkey also gave permission for engineering surveys for Turkish Stream. Later, however, such permits were withdrawn due to the serious deterioration of Russian-Turkish relations. Thanks to the improvement of relations since summer this year, Gazprom has resumed active work on the Turkish Stream gas pipeline.

    Gazprom has now specified that it has received permission not just for surveying, but for the construction of the pipeline’s offshore section.

    Gazprom announced on Wednesday: “Through diplomatic channels, Gazprom has received the first permit from authorities of the Turkish Republic to construct the offshore section of the Turkish Stream gas pipeline as part of preparatory procedures for the resumption of the project.” “We would like to note the efficiency and coherence of work with our Turkish partners at the first stage of the Turkish Stream project’s realization,” Gazprom head Alexey Miller is quoted as saying in the report.



    Austin

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    Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    Post  Austin on Thu Sep 15, 2016 9:13 am

    kvs wrote:
    Austin wrote:Putin Keeps Faith in Gazprom Even After 80 Percent Share Crash

    http://www.bloomberg.com/news/articles/2016-09-05/putin-keeps-faith-in-gazprom-even-after-80-percent-share-crash

    Gazprom is the biggest natural gas producer on the planet controlling proven reserves that are the biggest on the planet (no, Iran's
    are not bigger than Russia's).  Gazprom's share price has been grossly undervalued and two bit outfits like Exxon-Mobil are somehow priced
    vastly higher even though they are literally nothing compared to Gazprom.   Putin, Putin, Putin.   Idiots who write such headlines
    loudly demonstrate their idiocy.

    http://news.exxonmobil.com/press-release/exxonmobil-announces-2015-reserves-additions

    Exxon-Mobil controls reserves of 24.8 billion oil-equivalent barrels with 59% of this being liquids.  (Note that the percentage for
    liquids keeps increasing which indicates long term depletion of real oil assets).  

    Gazprom controls 36 trillion cubic meters of natural gas reserves.    In just energy terms we have:

    1 barrel of oil = 5,729,000 Btu
    1 cubic foot of natural gas = 1,032 Btu

    1 cubic meter = 35.3147 cubic feet

    so 1 cubic meter of natural gas is 36,445 Btu.  Thus Gazprom owns 1.31 x 10^18 Btu (in gas alone) while Exxon-Mobil owns 1.42 x 10^17 Btu.
    Gazprom share price = 138.93 rubles.  Exxon-Mobil share price = 87.29 US dollars.   So a company with 10% the Btu reserves of Gazprom has
    a vastly higher share price.   This demonstrates that share prices mean precisely fuck all.


    Good Post.

    Share prices in US is unusually high because of QE and price of every asset is inflated many times over.

    Although Russian Share market is at all time high but that does not get reflected on some of the big players share value.
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    George1

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    Re: Russian Oil and Gas Industry: News

    Post  George1 on Thu Sep 29, 2016 3:25 am

    Rosneft plans to decide on Dalnevostochny LNG plant in 2017-2018

    More:
    http://tass.com/economy/902699?_ga=1.122805067.1337049799.1447427261


    Rosneft plans to increase production on Sakhalin to 3 mln tonnes in 2016

    More:
    http://tass.com/economy/902673?_ga=1.67361617.1337049799.1447427261


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    PapaDragon

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    Re: Russian Oil and Gas Industry: News

    Post  PapaDragon on Mon Oct 03, 2016 10:17 pm


    This article should be behind a paywall but thanks to busted flash plugin on my Ubuntu we get to read it scott free   thumbsup

    Also confirms what I said about Saudis being rogered. Someone could post bolded parts on The Other Place for sh*ts and giggles  Razz


    Don’t bet on Russia capping oil output

    Cost-efficient industry is coping well with weaker crude prices


    https://www.ft.com/content/8741742a-8643-11e6-8897-2359a58ac7a5


    In spite of the sharp fall in the price of oil since 2014, the Russian oil industry is healthy and production, confounding many predictions to the contrary, is growing steadily.

    Indeed, boosted by the launch of several greenfields this month, Russian oil output has gained around 200,000 barrel per day in September alone to a post-Soviet record of 11.18m barrels per day.

    Although this booming rate of output gains cannot be sustained; slow, steady production increases from these levels will remain the norm at least until 2020. So how is this dichotomy of rising production and sharply lower oil prices possible?

    First, Russian oil production is highly profitable on a pre-tax basis, much more so than is generally understood. Second, both the Russian oil tax regime and the rouble are highly geared to oil prices, cushioning wellhead margins and keeping overall well economics for producing companies surprisingly stable in almost any oil price environment.

    The precipitous fall in oil prices since mid-2014, from over $100 per barrel to just below $50 a barrel today, has resulted in a rapid reduction in investment in the global oil industry, which has naturally resulted in a significant reduction in field-level activity.

    Most visibly, the number of working US oil rigs has collapsed by about 75 per cent from the 2014 peak. Canada (-79 per cent), Latin America (-54 per cent), and the Asia-Pacific region (-32 per cent) also all saw significant drops in rig activity. Even in the Middle East, where Saudi Arabia is in the process of taking market share, the number of rigs in operation has fallen 12 per cent from 2014 peak levels.

    Russia, however, is clearly bucking this trend. Although upstream capital expenditure in the country has fallen in dollar terms, that has been entirely due to the sharp fall in the rouble. Drilling activity itself has actually risen by 25 per cent since 2014, driving a steady rise in Russian oil output even as the rest of the non-OPEC world sees various degrees of declines.

    This increase in oil production despite sharply lower oil prices has caught many observers by surprise. In December of 2014 Opec forecasted a small, 10,000 bpd production loss for Russia in 2015, while the International Energy Agency predicted a more significant 90,000 bpd fall. In reality Russian output went up by about 140,000 bpd.

    In December of 2015 Opec again predicted a decline in Russian output for 2016, this time of around 70,000 bpd, while the IEA anticipated “largely flat” output. In the event, Russian production broke through the 11m bpd level in early September, and with the launch of several new greenfield projects hit 11.18m bpd by September 20, the highest level since 1989 when Russia was still part of the Soviet Union. Looking forward, we expect Russian oil production to continue to climb, if less dramatically, for the medium term until hitting about 11.5m bpd in 2020.

    So how has Russian oil production been able to outperform the forecasts of knowledgeable observers, increasing production in spite of low oil prices?

    We see two general reasons: First, contrary to common misconception, Russia’s oil production is not a high-cost venture. Instead, the typical Russian barrel of oil resides far down the cost curve, generating economic value even at oil prices below $20 per barrel, although the bulk of that economic value goes to the Russian government via taxes, rather than to producers in the form of profit.

    Second, both Russia’s oil tax regime (explicitly) and the free-floating rouble (in effect) are tied to the price of oil. The combination of an automatically-adjusting tax burden and rouble work to act as a very effective cushioning mechanism for wellhead operating margins.

    The union of only modestly lower, and generally stable, wellhead margins and sharply lower upfront well costs has served to keep new well economics for producers surprisingly stable in almost any oil price environment for Russia’s oil companies. Indeed, we estimate that the returns of a standard vertical well in West Siberia today are the same or even higher than what would have been earned on that same well in June of 2014 when oil was around $112 a barrel.

    This somewhat counter-intuitive result — that field-level returns could be stable in spite of sharply lower oil prices — is probably what has caused otherwise knowledgeable observers to serially underestimate Russia’s production potential the last few years.

    So what does this imply for Russian oil production going forward?

    In short, with a stable return environment and substantial geological resources left to tap, we see Russian oil production continuing its slow climb for at least the next five years. While the increase in any given year is unlikely to be large enough to move the needle on global oil markets, neither can other global producers look to Russia for help in reining in output to boost the price of oil.

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    Re: Russian Oil and Gas Industry: News

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