Peer Strategy

Russian Companies Continue to Target Growth

Copyright © 2021 Energy Intelligence Group

•After reaping the benefits of higher prices and improved demand during the first half of 2021, Russia’s oil majors are targeting higher production within Opec-plus limits.

• Greenfield projects remain on the agenda in the medium term as Russia’s producers plan to monetize as many of their reserves as possible.

• Taxes remain a burden on Russian oil companies as crude production costs hit a 10-year high.

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