Arab media talked about the “sad future” of Russian oil


Russian oil has a “sad future”, analysts say Egyptian "independent" political Sasapost online newspapers. They prophesy hard times for the Russian oil industry, and the economy countries - a crisis, setting the United States as an example of how to “live” and work for others “correctly”.


The COVID-19 pandemic has had a negative impact on the economies of many countries, especially those that depend on oil exports. Russia is also forced to respond to the global challenge, because oil accounts for one third of exports and 40% of the country's budget revenues. Moreover, this sector of the Russian economy has a number of problems. They are associated with existing reserves of easily recoverable oil and unconventional fields that have difficulties with technology (for the extraction and processing of raw materials).

Most of the existing deposits in Western Siberia were discovered until 1970 under the USSR. Their development in the 2000s revived the economy of modern Russia. Due to growing global demand, Russian oil competed with raw materials from Saudi Arabia. Over the 15 years of production, on some of the fields the volume of oil has not changed, but in a number it has decreased, which indicates the possibility of reducing production by 2030. Now Russia must recognize a new reality - the era of glory, dominance and big profits in the oil market may come to an end.

Now the Russian oil sector is faced with five problems: the depletion of reserves of easily extracted raw materials. Proven oil reserves are (15 billion tons of proved reserves, may be reduced to 2040 million tons by 350); low efficiency of refineries, because of which they lose to competitors; US and EU sanctions prevent Russia from acquiring investors, as well as the necessary equipment and production technologies; ownership (in Russia, recoverable minerals belong to the state, which is an obstacle to development); monopoly of large companies (they concentrated 95,7% of proven oil reserves and 88% of potential).

At the same time, in the United States, where the shale revolution took place and work was carried out over the years on the development of the production process, the authorities, unlike Russia, gave companies freedom to experiment.

According to preliminary estimates, Russia's revenues from oil and gas exports fell by about $ 165 billion. This will force the government to use its international reserves to finance the state budget.

The problems of the Russian economy can be solved as follows. Russia, which has huge reserves of unconventional oil in Eastern Siberia and the Arctic, should start investing in their development. In addition, Russia has huge reserves of shale oil - more than anywhere else in the world. And the Kremlin has already announced plans to develop the North.

It is also important for Russia to maintain its export position in the Asian market. After all, Europe, which imports 30% of oil and 40% of natural gas from Russia, wants to buy cleaner and more environmentally friendly raw materials. This may put Russia in a difficult position. Therefore, cooperation with China is extremely important.

To succeed, Russia needs to reform the economy to ease its dependence on oil exports. At the same time, the Kremlin spends huge sums on military expenses, which impedes the implementation of this goal. It remains only to wait for the leadership of Russia to decide on radical transformations, the main thing is that the “Potemkin villages” do not appear again.
  • Photos used: https://pixabay.com/
11 comments
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  1. Bakht Offline Bakht
    Bakht (Bakhtiyar) 12 May 2020 17: 45
    +3
    And this is written by "Egyptian experts." Despite the fact that prices are low, they advise "to start investing in their development."
  2. 123 Offline 123
    123 (123) 12 May 2020 20: 04
    +3
    What to do, times are hard. crying Yesterday I traded dates on the market, today an expert on the oil market.
    It’s not easy for everyone now, but somehow it’s necessary to live. It can be seen that they tried, smart words were selected, they were put into sentences. winked
    1. 17085 Offline 17085
      17085 (Dmitriy) 14 May 2020 11: 53
      +2
      Quote: 123
      What to do, times are hard. crying Yesterday I traded dates on the market, today an expert on the oil market.
      It’s not easy for everyone now, but somehow it’s necessary to live. It can be seen that they tried, smart words were selected, they were put into sentences. winked

      Why yesterday !? He posts these articles directly from the shop in which he sells ...
      1. 123 Offline 123
        123 (123) 14 May 2020 11: 55
        +1
        Why yesterday !? He posts these articles directly from the shop in which he sells ...

        It could even be. yes Quarantine, camels with tourists to the pyramids are now not taken, there is a lot of free time. winked
        1. 17085 Offline 17085
          17085 (Dmitriy) 14 May 2020 12: 01
          +1
          The incoherence, complete illogicality and far-fetchedness in each paragraph, betrays the seller near the SGA embassy.
          1. 123 Offline 123
            123 (123) 14 May 2020 12: 16
            +2
            In fairness, this is rather a shortened version, so to speak, a brief retelling of the content. In this case, something is inevitably lost, read this on “other media”:

            Sasapost (Egypt): after the oil war. What future awaits Russian oil?

            https://inosmi.ru/economic/20200512/247409426.html

            Part of the claims for illogicality and thoughtlessness will disappear, and everything else .... yes, apparently, people are not completely stupid, but they have such a job. laughing What they ordered, they wrote. winked
            1. 17085 Offline 17085
              17085 (Dmitriy) 14 May 2020 15: 24
              +2
              Thanks for the link, only the feeling of neglect of the disease has intensified ...

              Proved reserves of Russian oil are 15 billion tons, but according to forecasts, by 2040 they will be reduced to 350 million tons.

              The remaining "bends" are more authentic, but also funny. I especially want to emphasize the work of Egyptian thought about “more saturated with carbon oil” and about a certain Daria Kamenskaya, whom Putin did not allow her workers to be driven into the street, but she ... said (but really, really want to say very literary) -

              “So began the revolution in the past - from the working class.”

              Those. Putin (such a bastard) forced her to responsibility for the fate of his workers?
              And this is against the background of drilling one well with Petronal for $ 60 million in the Nile Delta and the collapse of "all dreams" about the $ 800 million investment in the Egyptian sector this year.
              1. 123 Offline 123
                123 (123) 14 May 2020 17: 55
                0
                I did not say that the reasoning there is more sound. laughing It’s just written in more detail. winked
                1. 17085 Offline 17085
                  17085 (Dmitriy) 14 May 2020 21: 03
                  0
                  I do not argue, by the way, in the comments there an article is appreciated. I can imagine how the translator suffered.
                  1. 123 Offline 123
                    123 (123) 15 May 2020 00: 31
                    0
                    They are familiar translators; they simply cannot be finished off. laughing
  3. kriten Offline kriten
    kriten (Vladimir) 13 May 2020 11: 19
    +3
    Those who write in Russia dream of transforming the economy in an Eastern European style, i.e. destroy everything that is possible with reforms, inviting the invaders to rule.