Russia Oil and Gas Report Q4 2016

Publisher Name :
Date: 03-Sep-2016
No. of pages: 115

BMI View: Oil production continues to outperform as a weak rouble allows for maintained capex and

lower operating costs. Gas production has been steady though exports, particularly to Europe, are up 14%

over H116.

The main trends and developments we highlight for Russia's oil & gas sector are:

? Crude oil and condensate production averaged 10.87mn b/d in H116.

? Lukoil has begun development drilling on the Vladimir Filanovsky field in the Caspian Sea and is

targeting first oil by the end of the year. Plateau production is due to reach 120,000b/d.

? Rosneft is moving forward with exploration in the Lisyansky and potentially the Magadan-1 block in the

Sea of Okhotsk over the summer.

• BP (49%) has committed up to USD300mn to the Yermak-Neftegaz exploration joint venture with

Rosneft (51%). The focus of exploration will be Yenisey-Khatanga and Western Siberia.

• Russian gas production over H116 was 4bcm lower than H115.

• Gas exports to Europe, however, increased 10.9bcm to 84.9bcm in H116.

• Train 1 of the Yamal LNG project is reportedly 70% complete and the USD19bn financing has been

approved.

• The finance minister expects oil export duty to drop to the planned 30% in 2017, from 42% currently.

• Overall refinery throughput has reduced around 3.3% in H116 over H115.

• Gasoline, diesel and jet fuel production remains stable, though fuel oil output has reduced over H116 as

deeper refining capabilities improve.

Russia Oil and Gas Report Q4 2016

Table of Contents

BMI Industry View 7
Table: Headline Forecasts (Russia 2014-2020) 7
SWOT 8
Oil & Gas SWOT 8
Industry Forecast 10
Upstream Exploration 10
Latest Updates 10
Upstream Projects 12
Table: Russia - Major Upstream Projects 12
Upstream Production - Oil 33
Latest Updates 33
Structural Trends 33
Table: Russia Oil Commitments To China 35
Table: Oil Production (Russia 2014-2019) 37
Table: Oil Production (Russia 2020-2025) 37
Upstream Production - Gas 38
Latest Updates 38
Structural Trends 38
Table: Gas Production (Russia 2014-2019) 42
Table: Gas Production (Russia 2020-2025) 42
Refining 43
Latest Updates 43
Structural Trends 43
Table: Major Refinery Upgrades Completed And Underdevelopment 45
Table: Crude And Fuel Export Duty Changes Now Frozen At 2015 Levels 46
Table: Refining Capacity and Refined Products Production (Russia 2014-2019) 47
Table: Refining Capacity and Refined Products Production (Russia 2020-2025) 47
Refined Fuels Consumption 48
Latest Updates 48
Structural Trends 48
Table: Refined Products Consumption* (Russia 2014-2019) 50
Table: Refined Products Consumption* (Russia 2020-2025) 50
Gas Consumption 51
Latest Updates 51
Structural Trends 51
Table: Gas Consumption (Russia 2014-2019) 53
Table: Gas Consumption (Russia 2020-2025) 53
Trade - Oil 54
Latest Updates 54
Structural Trends: Crude Oil Trade 54
Table: Russia - Oil Commitments To China 56
Table: Crude Oil Net Exports (Russia 2014-2019) 56
Table: Crude Oil Net Exports (Russia 2020-2025) 57
Structural Trends: Refined Products Trade 57
Table: Refined Fuels Net Exports (Russia 2014-2019) 59
Table: Refined Fuels Net Exports (Russia 2020-2025) 60
Trade - Gas (Pipeline And LNG) 60
Latest Updates 60
Structural Trends 60
Table: Gas Net Exports (Russia 2014-2019) 64
Table: Gas Net Exports (Russia 2020-2025) 64
Industry Risk/Reward Index 65
Central And Eastern Europe Oil & Gas Risk/Reward Index 65
Table: CEE: High Risk, Low Reward 65
Table: CEE Upstream, Downstream And Overall Risk/Reward Indices 66
Table: CEE Upstream Risk/Reward Index 69
Downstream: Turkish STAR Only Bright Spot In Weak Market 69
Table: CEE Downstream Risk/Reward Index 72
Russia Risk/Reward Index 73
Upstream Index - Rewards 73
Upstream Index - Risks 73
Table: Russia RRI 74
Downstream Index 74
Market Overview 75
Russia Energy Market Overview 75
Regulatory Structure 75
Fiscal Regime 75
Table: Export Duty 77
Licensing Regime 78
Oil & Gas Infrastructure 80
Oil Refineries 80
Table: Major Refineries - Russia 80
Table: Russian Refinery Upgrades 82
Oil Terminals/Ports 82
Table: Russian Oil Ports 82
LNG Liquefaction Terminals 83
Table: Current And Proposed LNG Terminals 83
LNG Import Terminal 84
Planned Oil & Gas Pipelines 84
Table: Major Proposed International Pipelines 84
Competitive Landscape 85
Table: Russian Refining Capacity By Player 86
Company Profile 87
Gazprom 87
Latest Updates 87
Table: Major Current Assets 88
Table: Over 200bcm Of Future Growth Assets 89
Table: Gazprom - Key Financial Data 89
Rosneft 91
Latest Updates 91
Table: Major Assets 92
Table: Rosneft Revenues & EBITDA, RUBbn 93
Lukoil 95
Latest Updates 95
Table: Major Assets 96
Table: Key Financial Data 97
Novatek 98
Latest Updates 98
Table: Major Assets 99
Table: Novatek - Key Financial Data 100
Regional Overview 101
Central And Eastern Europe Oil & Gas Regional Overview 101
Oil Production: Oil Powerhouses Falter On Weak Prices 101
Oil Consumption: Short-Term Weakness As Russia Struggles 102
Refining Capacity: Modernisation Key To Competing 103
Natural Gas Production: Gas Ramp-Up Demand-Dependent 104
Table: Central Asia-China Gas Pipeline Expansions 105
Gas Consumption: Demand Falters On Struggling Economies 106
Table: Central & Eastern Europe Oil & Gas Production & Consumption, Refining Capacity & Trade 107
Glossary 108
Table: Glossary Of Terms 108
Methodology 110
Industry Forecast Methodology 110
Source 112
Risk/Reward Index Methodology 112
Table: Bmi's Oil & Gas Upstream Risk/Reward Index 114
Table: Weighting 115

List of Tables

Table: Headline Forecasts (Russia 2014-2020)
Table: Russia - Major Upstream Projects
Table: Russia Oil Commitments To China
Table: Oil Production (Russia 2014-2019)
Table: Oil Production (Russia 2020-2025)
Table: Gas Production (Russia 2014-2019)
Table: Gas Production (Russia 2020-2025)
Table: Major Refinery Upgrades Completed And Underdevelopment
Table: Crude And Fuel Export Duty Changes Now Frozen At 2015 Levels
Table: Refining Capacity and Refined Products Production (Russia 2014-2019)
Table: Refining Capacity and Refined Products Production (Russia 2020-2025)
Table: Refined Products Consumption* (Russia 2014-2019)
Table: Refined Products Consumption* (Russia 2020-2025)
Table: Gas Consumption (Russia 2014-2019)
Table: Gas Consumption (Russia 2020-2025)
Table: Russia - Oil Commitments To China
Table: Crude Oil Net Exports (Russia 2014-2019)
Table: Crude Oil Net Exports (Russia 2020-2025)
Table: Refined Fuels Net Exports (Russia 2014-2019)
Table: Refined Fuels Net Exports (Russia 2020-2025)
Table: Gas Net Exports (Russia 2014-2019)
Table: Gas Net Exports (Russia 2020-2025)
Table: CEE: High Risk, Low Reward
Table: CEE Upstream, Downstream And Overall Risk/Reward Indices
Table: CEE Upstream Risk/Reward Index
Table: CEE Downstream Risk/Reward Index
Table: Russia RRI
Table: Export Duty
Table: Major Refineries - Russia
Table: Russian Refinery Upgrades
Table: Russian Oil Ports
Table: Current And Proposed LNG Terminals
Table: Major Proposed International Pipelines
Table: Russian Refining Capacity By Player
Table: Major Current Assets
Table: Over 200bcm Of Future Growth Assets
Table: Gazprom - Key Financial Data
Table: Major Assets
Table: Rosneft Revenues & EBITDA, RUBbn
Table: Major Assets
Table: Key Financial Data
Table: Major Assets
Table: Novatek - Key Financial Data
Table: Central Asia-China Gas Pipeline Expansions
Table: Central & Eastern Europe Oil & Gas Production & Consumption, Refining Capacity & Trade
Table: Glossary Of Terms
Table: Bmi's Oil & Gas Upstream Risk/Reward Index
Table: Weighting
  • China Bunker Oil Market Research Report 2016
    Published: 01-Dec-2016        Price: US 3200 Onwards        Pages: 108
    Notes: Sales, means the sales volume of Bunker Oil Revenue, means the sales value of Bunker Oil This report studies Bunker Oil in China market, focuses on the top players in China market, with capacity, production, price, revenue and market share for each manufacturer, covering - Aegean Marine Petroleum - BP - Bunker Holding - Chemoil - Exxon Mobil - KPI Bridge Oil - Bomin - Glander - Gazprom - GAC......
  • Vietnam Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 76
    BMI View: Vietnam's dependence on energy imports is set to deepen over the coming decade, as strong growth in domestic demand for crude oil, refined fuels and natural gas comes in conflict with falling production. The increase in oil demand will primarily be driven by a more than tripling of its refining capacity, alongside positive macroeconomic and demographic factors. Gas demand will surpass output for the first time in 2020, when Vietnam's first import terminal is ant......
  • Trinidad and Tobago Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 79
    BMI View: Shortages of natural gas are expected to persist until the start of the Juniper field in late 2017. These supply challenges will continue to disrupt gas exports and comes amid government concerns over the profitability of liquefied natural gas exports. The government has also called for operators to fully exploit existing acreage, suggesting the emergence of tensions between officials and upstream players. Investment has suffered continued delays due to the curr......
  • Slovakia Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 63
    BMI View: Slovakia has above-average energy import dependency compared with the regional average. The country remains reliant on Russia but is actively pushing through several projects aimed at improving bi-directional flows and establishing regional links for a regional gas market in Central and Southeast Europe. Its role a key gas transit country for gas coming from Russia, through Ukraine and Slovakia before heading to Western Europe, should also be maintained over the......
  • Pakistan Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 71
    BMI View: Low oil prices, upstream spending cuts and natural declines combine to paint a bleak near-term upstream outlook for Pakistan, though its strong pipeline of discoveries and exploration plays point to plenty of upside once prices begin to rebound more significantly. The country will remain reliant on crude oil, refined fuels and natural gas imports to quench rising domestic demand. LNG imports are set to experience exponential growth, as influx of additional gas s......
  • Bulgaria Oil and Gas Report Q1 2017
    Published: 30-Nov-2016        Price: US 1295 Onwards        Pages: 72
    BMI View: Improvements in the refining sector have boosted refined fuels production, though 2016 is proving to be tougher with margins expected to drop. An oil discovery by Total in the Bulgarian section of the Black Sea highlights the potential for both oil and gas exploration in the black Sea. This is a play opening move for Bulgaria and exploration will continue into 2017. The exploration outlook onshore in Bulgaria remains much more limited. Latest Updates And K......
  • South Korea Oil and Gas Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 75
    BMI View: South Korea will continue to remain a major global refining powerhouse due to a highly complex and sophisticated refining industry, though export volumes will come under pressure in the long term due to falling utilisation rates and growing competition in the exports market. The country is also the world's second largest consumer of LNG, though import volumes are poised to record consistent yearly declines over the coming decade on greater fuel source diversific......
  • Russia Oil and Gas Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 116
    BMI View: Oil production continues to outperform as a weak rouble lowers operating costs and results in stable levels of capex going further. Gas production has been steady, though weak domestic demand has been offset by an increase in exports to Europe. The main trends and developments we highlight for Russia's oil & gas sector are: ? Crude oil and condensate production averaged 10.87mn b/d in 9M16. ? We have revised up our 2017 and 2018 oil and condensate forecast......
  • Kazakhstan Oil and Gas Report Q1 2017
    Published: 23-Nov-2016        Price: US 1295 Onwards        Pages: 79
    BMI View: We maintain a positive outlook for Kazakhstan's oil production, thanks to huge underground potential and, the delayed Kashagan project ramping up production over the next three years in addition to the Tengiz expansion in 2022. Our forecasts for gas and refined products consumption will pick up in 2017 as strengthen macros favour stronger demand. Latest Updates And Key Forecasts ? Roxi Petroleum announced in October that it has spudded its Shallow Well 142......
  • SERVICES
    Value for Money
    We believe in "optimum utilization of available budget and resources". While servicing our clients' (your) market research requirements, we keep the same approach in focus to help you get the best value for your $$s.
    Ever Growing Inventory
    Ranging from the smallest feasible / required data (datasheets, data facts, SWOT analysis, company profiles, etc) to full research reports that help you make decisions, our inventory is updated almost on a daily basis with the latest industry reports from domain experts that track more than 5000 niche sectors.
    One Stop Solution
    Need a custom research report on medical devices market? Require all available business intelligence on 3D printing industry? Exploring F&B sector of a particular country/region? RnRMarketResearch.com is your one-stop-solution to all market intelligence needs. We not only offer custom research and consulting services, we also "bundle" reports to meet your needs and help you fetch the data analysis you require for your business.
    Dedicated Client Engagement
    Not limited to only "finding" relevant reports for you, our client engagement team dedicates its efforts to understand your "business need" and accordingly maps available research data to help you move forward. Call "your" client engagement executive any time of your day and get your questions answered in order to make the correct business decision.
    Saving Time and Efforts
    Simply share your research requirement details with us and let us do all the hard work to find required intelligence for you. When you add up our "one stop solution" and "dedicated client engagement" services mentioned above, you obviously know the time and effort saving you do by working with us.
    Payment Flexibility
    Working with Fortune 500 organizations, we understand the importance of being flexible for payments. Share your payment terms with us and we will surely match up to them to ensure you get access to required business intelligence data without having to wait for the payment to be done.
    Post-Purchase Research Support
    Have questions after reading a report / datasheet bought through us? Not sure about the methodology used for data available in the research? Talk to us / Share your questions with us and if required, we will connect you with the analyst(s)/author(s) of the report(s) and ensure you get satisfactory answers for the same. Need more data / analysis / report(s) on the topic of your research/project? The RnRMarketResearch.com team is here for you 24X7 to support you with your post-purchase requirements. Subscription Offers & Packages (Get in touch with us for more details - sales@rnrmarketresearch.com / +1 888 391 5441 )
    • Ad Hoc
    • Pay - as - you - go / Bucket Subscriptions
    • Fixed Cost for #of reports
    • Customize / Personalize as per your needs