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"Russia Oil & Gas Report Q3 2014" Is Now Available at Fast Market Research

Recently published research from Business Monitor International, "Russia Oil & Gas Report Q3 2014", is now available at Fast Market Research

 

Boston, MA -- (ReleaseWire) -- 05/29/2014 -- BMI View: Russia is pumping post-Soviet record levels of oil but a high level of investment will be required to maintain this. It also faces pressure to diversify its gas markets, in view of an increasingly challenging core market in Europe and growing competition from other global gas suppliers. The most immediate threat to the sustenance of existing production and export volumes is the prospect of energy and financial sanctions on Russia by the West from Russia ' s perceived aggression in e astern Ukraine.

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

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- Russian oil production reached a post-soviet high of about 10.5mn barrels per day (b/d) in 2013, according to official figures from Russia. Recent changes to its tax regime - including tax breaks for tight oil and offshore production - promises to encourage investment and to support output. We expect this to help Russian production stagnate at about 10.4-10.5mn b/d through to the end of our forecast period in 2023. Faster-than-expected development of its tight oil deposits particularly from the Bazhenov shale poses an upside risk to our outlook.
- An increase in Russia's refining capacity, government policy and production from integrated producers such as Rosneft, Gazprom Neft and Lukoil would support an uptrend in the country's refined petroleum production. In particular, liquefied petroleum gases (LPG) could increase its mix. These underpin our forecasts for refined petroleum production to continue its growth from 5.2mn b/d in 2012 to 6.7mn b/d in 2018. Thereafter, output is likely to be capped till the end of our forecast period to 2023 as efficiency gains from modernisation start to peter out. However, independent producers, hurt by a tightening in crude oil supplies available in the domestic market as a result of Rosneft's consolidation of its position in the upstream, risks being excluded from the rewards of Russia's downstream expansion.
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The Russia Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Russia including major indicators for oil, gas and LNG, covering all major indicators including reserves, production, consumption, refining capacity, prices, export volumes and values. The report includes full analysis of industry trends and prospects, national and multinational companies and changes in the regulatory environment.

BMI's Russia Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Russian oil and gas industry.

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