The sanctions imposed by the USA and other developed countries have confronted Russia with the fact that the critical areas of the economy, such as the oil and gas industry, require complete self-sufficiency and independence. The total amount of the government support in solution of the Russian oil-and-gas machine building development tasks until 2024 will be more than 30 billion rubles. As a result, Russia shall develop its own technologies for offshore
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The coal industry, like the other sectors of the energy economy, is facing an economic impact of a global coronavirus pandemic. By comparison with the end of 2019 when the coal production in Russia reached record levels and exceeded 440 million tons, since the beginning of 2020 we have seen a decline of the key performance indicators. In these conditions,
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We can already say that 2020 will go down in the history of oil industry alongside the crisis years of 1973 and 1986. The turmoil in the oil market probably surpasses everything that has happened to it in the retro-seeable past. It would be much easier to evaluate and analyze all the events after a while, and for sure many articles and books will be written about them, but the first conclusions and assessments can be made right now.
MoreDespite the fact that one may observe an increase in energy prices and a recovery in demand from a number of large
MoreThe North American energy industry is usually associated in Russia with the United States oil-and-gas market and their «shale revolution» which, on
MoreThe pricing system on the world oil market, which has long taken its main cue from the price benchmark based on the
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Nowadays there are the gas pipelines with total capacity of 113.5 bcm in Europe that are at the active stage of construction or design. The projects geography is vast: from the polar latitudes of Norway to the Caspian Sea.
MoreOver the past decade, the global energy market has undergone dramatic changes. First of all, it ceased to be exclusively petroleum-based – extensive trade in liquefied natural gas (LNG) started, whose production, and most importantly – trading, has significantly expanded. Today, LNG turnover has exceeded 300 mln tons per year.
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Traditionally, for many years now, planning has played an important role in the development of various economic sectors. Planning is broadly understood to mean the process of analyzing, setting goals and determining substantiated models for their achievement. Against the backdrop of growing power consumption, developing a long-term energy strategy that charts a course for the future development of individual power companies, the entire sector – or even the state as
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One of the key topics in recent years in the fuel-and-energy complex, including the electric-power industry, has been the industry’s digitalization. Companies are implementing the first pilot projects, trying to optimize their usual way of doing business. At the same time, the objective of the Russian Ministry of Energy is to create favorable conditions for the application of new technologies, to give the industry impetus for the introduction of digital
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We can already say that 2020 will go down in the history of oil industry alongside the crisis years of 1973 and
Uncertainty is the key word characterizing the behavior of the world oil markets over the past several years. This uncertainty is associated
Over the past fifteen years, Transneft has implemented a lot of major and strategic important investment projects, such as construction of the
The Energy Ministry’s efforts to promote the fuel and energy complex and the sectors within it invariably focus on a number of
The global oil market environment is an important factor for macroeconomic, investment and geopolitical decisions. There is a widespread belief that oil