Insight

Russia upstream 2016 in review: Successfully swimming against the tide

Get this report

$1,350

You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.
 

- Available as part of a subscription
- FAQ's about online orders

17 January 2017

Russia upstream 2016 in review: Successfully swimming against the tide

Report summary

Despite the low oil price environment, Russia's upstream improvised, adapted and ultimately overcame a challenging 2016. Companies increased drilling and brought several major greenfields onstream to help Russia reach a post-Soviet liquids production peak of 11.2 million b/d. The budget deficit put pressure on the Russian government, however the privatisation of US$16.4 billion worth of upstream assets helped plug a financial gap. Rosneft strengthened its commercial relationship with China and India through US$7 billion worth of M&A deals. Meanwhile IOCs demonstrated their commitment to Russia through frontier exploration JVs. From a gas perspective, Russia is on schedule to deliver its first Arctic LNG project after Yamal LNG completed financing. However, it was a mixed year for Gazprom’s pipeline projects, which are faced with different degrees of political uncertainty.

Table of contents

Tables and charts

This report includes 5 images and tables including:

  • 2016 in a nutshell: positives and negatives
  • Russian liquids production vs. Oil Price
  • Russia upstream 2016 in review: Successfully swimming against the tide: Image 3
  • Russia upstream 2016 in review: Successfully swimming against the tide: Image 4
  • China and India dominate the Russian M&A market

What's included

This report contains:

  • Document

    Russia upstream 2016 in review: Successfully swimming against the tide

    PDF 461.27 KB