News

When two titans of energy clash, sparks fly – and major business opportunities present themselves too. Russia and its Gulf State partners are getting closer and closer, which heralds unique collaboration on key oil & gas projects.

Import substitution may be the top trend in Russian oil & gas right now, but that doesn’t stop the nation being dependent on imported equipment.

With sanctions hitting the industry, international oil & gas equipment manufacturers are starting to produce directly in Russia. National Oilwell Varco is one of these. The American multinational’s experience can teach us a lot about how to succeed in domestic Russian equipment manufacturing.

Russia’s turn towards Asia isn’t just a pivot towards China. India, itself a massively populated country with an unquenchable thirst for energy and extensive buying power, is emerging as one of Russia’s chief energy partners.

Russian oil & gas can’t be stopped. With production volumes smashing post-Soviet records, and over $160bn in projected capex from now until 2025, the industry prospects are good. MIOGE is right at the centre – and you need to be there this year.

With 29 projects in the pipeline from now until 2025 with over $160bn in capex forecast, it’s now more important than ever to get your products into the market. However, sanctions are limiting Russian access to imports of essential oil & gas equipment.

The East is full of promise. China, the world’s preeminent developing economy, is thirsty for oil & gas. With significant purchasing budgets, billions in exports are on the table. Russia is ready to pounce with a big Asian energy pivot.

The oil & gas industry in Russia is huge, so governing it is a big task. Russia is no stranger to unions, and it employs many such organisations to help it monitor, promote and regulate its extensive hydrocarbons sector. Here’s a who’s who of the groups you need to know.

It’s no secret that the Russian oil & gas industry is under the cosh of international sanctions. But what effect are they actually having?