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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
Russia’s long term oil production will be tested by the lack of high-tech services due to international sanctions according to consultant Yakov and Partners.
- Exports have unexpectedly held steady since the EU ban and G7 price cap but they expect production will fall between 5% to 20% by 2030.
- A 20% decline would equate to a drop to 409m tons, or about 8.2mbpd compared with about 11mbpd last month.
- The departure of international companies reduces the ability to tap technically challenging resources the consultant report said.
- Last year many international oil majors and services providers withdrew from Russian operations but to date there has been no visible impact on drilling with domestic firms filling the gap.
- The share of hard-to-recover oil in total output will grow as traditional reserves become depleted. A greater number of wells will need to be drilled requiring an upgraded fleet of about 1,500 drilling rigs, of which 40% is seriously outdated.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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