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Global Market of Energy Resources: Main Development Trends and the Role of Russian Companies

Global Market of Energy Resources: Main Development Trends and the Role of Russian Companies

The modern world is no longer divided into a capitalist and a socialist camp. Yet division itself is not gone. In the context of intensifying hunger for hydrocarbons, the division into the «Upstream World» and the «Downstream World» becomes increasingly obvious.

Nations that are the primary consumers of energy resources have too scanty reserves of oil and notably gas. And vice versa: nations possessing reserves are not in the lead as their consumers. As a result, these two worlds profess absolutely different strategies. The first spare no effort to gain access to reserves and the second to gain an end-user market share. Naturally enough, both processes continue on a very dramatic scale.

Western corporations are making active attempts at fighting the «resource nationalism» while Russian, Middle Eastern, and Latin American ones are struggling against «energy snobbery». Under way is aggressive struggle for assets where stakes are too high.

The Report offers an in-depth discussion of the following subjects:

  • Foreign companies facing increasingly tougher working conditions in upstream as a global trend

    • A comparative analysis of the criteria for non-residents to gain access to upstream in Latin America, the Persian Gulf, Africa, and Central Asia
  • Tax treatment in the industry

    • Future of concessions and production sharing agreement
    • Change of tendencies in the fiscal policy of reserve-rich countries
  • Serious change of access to assets in the downstream segment for non-residents

    • Large-scale change of foreign investment legislation in the US, the European Union, and China
    • Comparative analysis
  • Medium-term forecast of developments

The contents of the report:

Introduction. Two Energy Poles: the World of Reserves and the World of Consumption 2
Chapter 1. Rules of the Game in the World Upstream 6
1.1. Latin American Countries 7
1.2. African Countries 15
1.3. Persian Gulf Countries 24
1.4. Central Asian States 35
Chapter 2. Rules of the Game in the World Downstream 45
Chapter 3. New Working Conditions in the Russian Market. Asset Exchange Process and Partnership between Russian and Foreign Companies in International Projects 48
Conclusion. Are the Two Worlds Monolithic? 54
Date of issue October 27, 2008

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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