“Russia's oil compass”

The report "Russia's Oil Compass" was presented by the Vedomosti business newspaper and the Institute for Energy and Finance within the framework of the 10th TNF Industrial and Energy Forum preparation.

The study analyzes the transformation of the oil and gas industry in 2018-2025: from exploration to production intensification, localization of equipment and technological sovereignty. Industry experts and investment analysts were interviewed, and forecasts of the situation were prepared.

It can be stated that the Russian oil industry, mechanical engineering and oilfield services have adapted to the new realities, moving to a model based on maximizing the return on existing assets. This strategy ensures current stability, but creates long-term challenges related to replenishing the resource base.

An important conclusion of the study is that significant opportunities in the global market are still available for the Russian oilfield services and the oil industry as a whole, despite sanctions and growing infrastructural risks.

Experts note that the development of new consumer centers in developing countries will inevitably lead to changes in market standards, so domestic companies already need to be proactive and not focus solely on import substitution tasks. New consumer centers are both specific service and engineering tasks with a huge share of intelligent digital solutions, which are traditionally a strong point of Russian companies. The government and companies need to synchronize their actions in the international market in order not only to regain some of their lost positions, but also to gain new ones.

Team of the authors: Marcel Salikhov, Maxim Shevyrenkov, Elizaveta Kolchina

Download the entire Report (PDF version)