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EU sanctions try to put Russia’s Arctic drilling plans on ice

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30 July 2014

EU sanctions try to put Russia’s Arctic drilling plans on ice

Report summary

Russia’s oil and gas sector – the centrepiece of the Russian economy - is now being targeted with sanctions. These sanctions focus on the pillars of Russia’s post 2020 strategy – Arctic exploration and shale oil, but avoid gas and are unlikely to impact near term production.Rosneft and NOVATEK two of Russia’s largest companies are most immediately impacted. But IOC’s with equity stakes in Russian companies and Arctic or shale oil exploration projects with Russian companies are also impacted.

Table of contents

  • Background
  • US-led financial sanctions
  • EU-led technology sanctions
  • Impact on the gas sector
  • Impact on the coal sector
  • Impact on the steel sector
  • Broader implications for the Russian energy sector

Tables and charts

This report includes 4 images and tables including:

  • Arctic and tight oil exploration with IOC participation.
  • Rosneft’s upstream assets remain strong cash generators
  • Licence commitments for blocks with IOC participation in the Russian offshore
  • IOC offshore and tight oil JVs (map)

What's included

This report contains:

  • Document

    EU sanctions try to put Russia’s Arctic drilling plans on ice

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