Boston, MA -- (ReleaseWire) -- 07/15/2014 -- Sustained interest from major international companies in Ukraine's gas reserves provides some upside potential in alleviating a part of its import burden in the long run. However, escalating political instability in Ukraine will delay exploration and development (E&P) work, while international investors wait for a clearer picture to emerge as to the set up of the new government and the new status quo in the country.
The main trends and developments we highlight for Ukraine's oil and gas sector are:
- In April 2014, the Russian government increased gas prices for Ukraine by 81% to USD485 per 1000 cubic meters up from USD268.5 in January 2014. The Russian Prime Minister Dmitry Medvedev said that the move cancels discounts provided by the government to Ukraine as part of a treaty in 2010. This price hike for imported gas from Russia could strengthen the profit margins of E&P pursued by independent companies thus prompting a faster growth of domestic production.
- Following Gazprom's price hikes for imported natural gas to Ukraine, the Ukrainian interim government turned to major European energy companies seeking for additional gas supplies. On April 17, the Ukrainian Energy Minister Yury Prodan made an agreement with the CEO of Italian energy company Eni, Paolo Scaroni, to increase the company's gas production activities in Ukraine. Later in the month, the Ukrainian government signed a deal with the German energy company RWE for the supply of natural gas in the week ended April 19. Finally, in late April, the Ukrainian government reached an agreement with Slovakia regarding opening up of limited reverse flow of natural gas from central Europe to Ukraine.
- Russia's annexation of Crimea, including its oil and gas assets in the region, created an uncertain situation with regards to Black Sea assets and the future of exploration licences. The Crimean offshore was a key part of Ukraine's strategy to develop domestic resources and reduce the impact of gas...
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The Ukraine Oil & Gas Report has been researched at source and features Business Monitor International (BMI)'s independent forecasts for Ukraine 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 Ukraine Oil & Gas Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and competitive intelligence on the Ukrainian oil and gas industry.
- Benchmark BMI's independent oil and gas industry forecasts for Ukraine to test consensus views - a key input for successful budgeting and strategic business planning in the Ukrainian oil and gas market.
- Target business opportunities and risks in the Ukrainian oil and gas sector through reviews of latest industry trends, regulatory changes and major deals, projects and investments in Ukraine.
- Assess the activities, strategy and market position of your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity) and Competitive Landscape Tables.
BMI Industry View
Summary of BMI's key forecasts and industry analysis, covering oil and gas reserves, supply, demand and refining, plus analysis of landmark company developments and key changes in the regulatory environment.
Regional perspective on size and value of industry sector; comparative rankings by production, refining, imports and exports of oil, gas and LNG.
Business Environment Rankings
BMI's Oil and Gas Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (independents, NOCs, IOCs and oil services companies) in the upstream and downstream markets.
The rankings methodology makes sophisticated use of more than 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.
Oil Market Outlook and Oil Products Outlook
Based on our country coverage of over 99% of global oil and gas production and consumption, BMI provides demand, supply and price forecasts to end-2018 for oil, gas and oil products
BMI Industry Forecasts
Historic data series and forecasts to end-2018 for all key industry indicators (see list below), supported by explicit assumptions, plus analysis of key downside risks to the main forecast, including:
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