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7 Pages

Russia Upstream: 2014 in review

Russia Upstream: 2014 in review

Report summary

2014 started strongly and full of optimism for the Russian upstream industry. January saw a new post-Soviet record for oil production. Activities in the Arctic offshore gained momentum, and Gazprom finally signed its much anticipated gas export agreement with China. However, sanctions, the decline of the oil price and the subsequent collapse of the Rouble led to a dramatic deterioration of the investment climate – for both current and future developments.

What's included?

This report includes 2 file(s)

  • Russia Upstream: 2014 in review PDF - 663.87 KB 7 Pages, 1 Tables, 2 Figures
  • Discoveries in 2014.xls XLS - 71.00 KB


This Upstream Oil and Gas Insight report highlights the key issues surrounding this topic, and draws out the key implications for those involved.

This report helps participants, suppliers and advisors understand trends, risks and issues within the upstream oil and gas industry. It gives you an expert point of view to support informed decision making.

Wood Mackenzie's 500 dedicated analysts are located in the markets they cover. They produce forward-looking analysis at both country and asset level across the globe, backed by our robust proprietary database of trusted research.

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  • Executive summary
  • Caught up in geopolitical uncertainty
    • Sanctions
    • Oil price pressure and Rouble collapse
  • Russian gas exports: pivot to the East
    • Russia-Ukraine-EU
    • Russia-China
    • A quiet year for the LNG story in 2014
  • Oil sector: Production rises, but not as quickly as problems do
    • Arctic offshore
    • Tight Oil
    • Conventional Plays
  • Other developments
    • IOCs
    • Russian M&A
  • Appendix – Important discoveries and reserves upgrades in 2014

In this report there are 3 tables or charts, including:

  • Executive summary
  • Caught up in geopolitical uncertainty
    • Chart – Timeline of 2014
  • Russian gas exports: pivot to the East
  • Oil sector: Production rises, but not as quickly as problems do
    • Map – Oil and gas fields in the East Barents Sea and Kara Sea
  • Other developments
  • Appendix – Important discoveries and reserves upgrades in 2014
    • Russia Upstream: 2014 in review: Table 1
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