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Government regulation of the oil and gas industry in 2007 and future considerations for 2008

Government regulation of the oil and gas industry in 2007 and future considerations for 2008

By longstanding tradition, at the end of each year the National Energy Security Fund draws results of the Russian fuel and energy industry. We focus on political influence on the industry. Clashes between power cliques for oil and gas property escalate ahead of the presidential election. Political future of the country is not quite certain, which encourages Kremlin’s powerhouses fight for assets. State management of the industry is changing.

The study dwells on the following subjects:

  • Winners and losers of the year

    • Companies and their heads that have boosted their influence on the industry and fading stars
    • Standoff between Gazprom and Rosneft, establishment of the “exporters group,” the fate of the last standing private oil and gas corporations.
    • Future development of medium and small size oil and gas firms.
  • Transformation of oil and gas management system

    • Administrative reform and the fate of the governmental services in charge of oil and gas
    • Rotations and structural changes in the government’s oil&gas-regulating services.
  • Tax regime for oil and gas companies

    • The first experience of differentiated mining tax and other economic innovations.
  • Foreign companies in the Russian oil and gas industry

    • Reasons for success of some of them and failures of the others
    • Shtokman against Kovykta
  • Pipeline wars and new export projects

    • Escalating competition for Central Asia and the Caspian Region
    • Obstacles on the way of direct hydrocarbon supplies to Europe
    • Competition for transit in the former Soviet republics
  • Forecast for 2008

    • New Putin’s energy project
    • Possibility of a new wave of property redistribution
    • New system of political management in the oil and gas industry

The content of the report:

Introduction 2
Chapter 1. Key Factors for Russian O&G Industry Development in 2007 3
Chapter 2. Transformation of Oil and Gas Management System 8
Chapter 3. Competition for Assets: Winners and Losers 15
Chapter 4. Tax Regulation in the Industry 24
Chapter 5. General Results of the O&G Market in 2007 29
Chapter 6. Status of Foreign Companies in the Russian O&G Market 33
Chapter 7. Main Export Projects 40
Chapter 8. Forecast for 2008 48

Issue date 26th December 2007

If you are interested to obtain please contact » Elena Kim

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Analytical series “The Fuel and Energy Complex of Russia”:

New OPEC+ Deal and Future of Oil Business in Russia
Gazprom on the background of external and internal challenges
Regulation of Oil and Gas Sector in 2019 and Prospects for 2020
Fiscal Policy on Oil and Gas Sector: Revised as Often as Wikipedia
The tax system in the oil and gas sector continues to undergo radical changes. The beginning of 2019 saw the introduction of a new tax regime: additional income tax. That experiment was supposed to start migration of the oil industry to an innovative principle of taxation: on profit, not revenue. It seemed that a new main road was found. In the same year, however, the Finance Ministry launched an overt offensive against AIT. The fear of loss of government revenue now is more powerful than the threat of causing oil production to collapse in the medium term because of a tax system that does not stimulate investment. The Finance Ministry would strongly prefer to speed up the tax manoeuvre completion that earns the state budget additional money. Oil and gas companies respond to this with individual lobbying, attempting to wangle special treatment for their projects.
Ukrainian Gas Hub: Climax at Hand
The “zero hour” comes in less than a month: the contracts for gas transit through Ukraine and for supplying Russian gas to the country terminate at 10 am on 1 January. Meanwhile, Gazprom and Naftogaz are very far from looking for a mutually acceptable solution. The entire European gas business is watching intently the negotiations between Russia and Ukraine. Everyone is waiting for a new “gas war”: the January 2009 events proved to be a serious test both to European consumers and to Gazprom as a supplier. Is there still a chance of agreement? If there is not, will Gazprom cope with its obligations to deliver gas to Europe? Is Russia bluffing as it assures that the new infrastructure and gas in underground storage facilities will enable it to get by without Ukrainian transit even as soon as this winter? What will happen to Ukraine itself at the beginning of 2020?

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

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