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The twilight of the oil Eldorado. How the activity of Russian oil companies on the EU market has evolved. OSW Studies 55, April 2016

Kardaś, Szymon (2016) The twilight of the oil Eldorado. How the activity of Russian oil companies on the EU market has evolved. OSW Studies 55, April 2016. UNSPECIFIED.

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    Abstract

    The European Union has traditionally been the most important outlet for Russian oil exports. At the same time, during the period 2011-2014 a systematic decline was observed in crude oil supplies to the EU, while at the same time the export of petroleum products increased. It is now difficult to say that Russia is following a coherent oil strategy vis-a-vis the EU. The current shape of Russian activity is more the result of the business interests of individual companies, rather than the result of activities coordinated by the state. Although in the short term (up to 2020), the negative trend in crude oil exports to the EU could be halted (as confirmed by the figures for 2015), the long-term prospects for Russia's position on the EU market are pessimistic. This is because the importance of factors unfavourable to Russia is rising, such as the decrease in consumption of oil in the EU, the increased competition among exporters to the EU market, and the deterioration of the climate of Russian/EU cooperation in the context of the anti-Russian sanctions, as well as unclear prospects for the development of the upstream sector in Russia.

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    Item Type: Other
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > energy policy (Including international arena)
    Countries > Russia
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for Eastern Studies (OSW) > OSW Studies
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 19 Apr 2016 11:48
    Number of Pages: 59
    Last Modified: 19 Apr 2016 14:12
    URI: http://aei.pitt.edu/id/eprint/74491

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