Insight
Russian upstream companies abroad: bold plans, modest achievements
Report summary
Although domestic activity dominates their portfolios, Russia’s upstream players, both state and private, have been active in the search for value creation overseas. However, grand designs in support of foreign policy objectives have given way to limited expansion abroad. Buffeted by US sanctions and oil price uncertainty, success stories in the upstream outside Russia are few and far between, particularly for state-controlled companies. Privately-owned LUKOIL stands out as the Russian player with the most sizeable and diverse upstream portfolio abroad. Powered by our Lens platform, we assess the overseas activity of the Russian companies. Please read our insight to understand: • Where are Russian companies welcome and why? • What limits are there to expansion overseas? • How material is Russian upstream investment abroad? • What next for Russian companies overseas? Please do not hesitate to contact us for more in-depth discussions on the activity of Russian upstream players.
Table of contents
- Executive summary
- Why do Russian upstream companies invest abroad?
- Where are Russian companies welcome and why?
- Is Russian investment abroad material?
- How do Russian NOCs compare to other NOCs in overseas activity?
- What limits Russian companies’ expansion overseas?
- What next for Russian companies overseas?
Tables and charts
This report includes 8 images and tables including:
- Map of upstream operations
- Production by super region (LHS) and total production overseas (RHS)
- Share of overseas portfolio in reserves
- Share of international ventures in company’s PV
- Share of international projects in company’s PV and net reserves - Russian players vs NOCs
- Value growth of Rosneft’s international portfolio
- Value growth of Gazprom’s international portfolio
- Value growth of LUKOIL’s international portfolio
What's included
This report contains:
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