Insight
Russia's upstream fiscal options for the energy transition
Report summary
Russia’s near-term oil and gas export options have been brought into sharp focus by the unfolding Ukraine crisis. How this situation will play out remains unclear. There are also long-term risks, particularly in export markets, driven by the energy transition. Oil and gas prices matter to Russia. The federal budget is hugely reliant on tax revenue from the hydrocarbon sector. The pace of the transition looms large in government thinking. We evaluate the upstream fiscal options the Russian government has: • What options does Russia have if oil demand and prices fall? • How could regulatory changes in other countries impact Russia? • What will be the domestic impact of an accelerated energy transition? • How resilient is the Russian economy to reduced hydrocarbon revenue? • What are the alternative paths to fiscal stability in an accelerated transition?
Table of contents
-
Executive summary
- How important are hydrocarbon tax receipts to Russia?
- Why does the pace of the energy transition matter to Russia?
- What options does Russia have if oil demand and prices fall?
- How could regulatory changes in other countries impact Russia?
- What will be the domestic impact of an accelerated energy transition?
- How resilient is the Russian economy to reduced upstream fiscal revenue?
- What are the alternative paths to fiscal stability in an accelerated transition?
Tables and charts
This report includes 4 images and tables including:
- 2019 federal budget* of the Russian Federation: tax and spend
- Oil and gas contribution to the federal budget
- Russian export revenues by product
- Russian hydrogen exports
What's included
This report contains:
Other reports you may be interested in
11 March 2022
National Oil Companies: strategies for the energy transition
Insight
National Oil Companies: strategies for the energy transition
NOCs are critical in delivering the energy transition, but efforts lag that of IOCs. Could we be nearing a tipping point for NOC strategies?
$1,35025 March 2022
Transition resource rents: establishing a fair share
Insight
Transition resource rents: establishing a fair share
Energy transition needs sustainable supplies of key resources, and a more collaborative working relationship between all stakeholders.
$1,05021 March 2022
Windfall profits: to tax or not to tax?
Insight
Windfall profits: to tax or not to tax?
Spiraling prices have led to demands for windfall profits taxes. What are the pros and cons? What might it mean for the energy transition?
$1,350