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Life under sanctions or is there light at the end of the import substitution tunnel

Life under sanctions or is there light at the end of the import substitution tunnel

The sector has been under sanctions imposed by the USA, Canada and the EU for almost two years. They restrict access to credit resources and technologies, create problems with marketing and change the psychology of operation of Western companies in Russia making the latter more cautious and careful.

Has Russia found a response to this challenge; has it benefited in some way, e.g. accelerated import substitution that Russian officials are so fond of taking about? Answers to these and other questions are found in this new report.

The report elaborates on the following topics:

  • The oil and gas sector in search of the money

    • Debt burden of majors amid lack of access to Western capital markets
    • How do companies find resources to pay off credits and investments
  • Nonresidents in the Russian oil and gas sector

    • The fate of projects of Western companies and arrival of Asian investors
    • Positions of Chinese and Indian companies in Russia, prospects of cooperation with them
  • In search of technologies. The influence of sanctions on offshore projects and development of tight reserves

    • The real situation around creation of necessary technological solutions in Russia
  • Sanctions, Russian market of oil services

    • Nonresidents are not leaving, but VIOCs want to get back assets they previously sold
    • The future model of development of services business in Russia
  • The influence of sanctions on assets redistribution in the sector

    • Sanctions as impetus to privatization and catalyst of new redivision of property in the sector
    • Struggle of clans for assets
  • Prospects of lifting of sanctions, scenarios of developments in the besieged fortress

 

Contents of the report:

INTRODUCTION 3
Chapter 1. FINANCIAL RESTRICTIONS IN RUSSIA’S OIL AND GAS INDUSTRY CAUSED BY SANCTIONS 5
Chapter 2. INFLUENCE OF SANCTIONS ON PRESENCE OF FOREIGN COMPANIES IN RUSSIA'S FES 20
Chapter 3. INFLUENCE OF SANCTIONS ON RUSSIA’S OIL SERVICES MARKET 39
Chapter 4. INFLUENCE OF SANCTIONS ON PROPERTY REDIVISION IN THE SECTOR 51
PROSPECTS OF DEVELOPMENTS 61
Date of release: May 25,2016

If you are interested to obtain please contact » Elena Kim

Other issues:
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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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