The kremlin, national champions and the international oil companies: The political economy of the russian oil and gas industry

Geopolitics of Energy

Volumn 31, Issue 5, 2009, Pages 2-14

  Bradshaw, Michael ^a,b  

^a UNIVERSITY OF LEICESTER   (United Kingdom)

^b UNIVERSITY OF BRITISH COLUMBIA   (Canada)

Author keywords

[No Author keywords available]

Indexed keywords

FOREIGN DIRECT INVESTMENT; GAS INDUSTRY; GAS PRODUCTION; HYDROCARBON RESOURCE; OIL INDUSTRY; OIL PRODUCTION; POLITICAL ECONOMY; PRIVATIZATION; RESOURCE DEVELOPMENT;

EURASIA; MOSCOW [RUSSIAN FEDERATION]; RUSSIAN FEDERATION; SAKHALIN;

EID: 67649988814     PISSN: 02731371     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (33)

1. 'Russia's first LNG plant opened by President Medvedev, Sakhalin Energy Website. Available at: http://www.sakhalinenergy.com/en/default.asp?p= channel&c=1&n=328. Accessed: 23 April 2009.
2. 'New Energy Source Comes Onstream at Sakhalin II', Sakhalin Energy Website. Available at: http://www.sakhalinenergy.com/en/media.asp?p=media- page&itmID=259. Accessed: 23 April 2009.
3. Leon Aron, Russia's Oil: Natural Abundance and Political Shortages, AEI Russian Outlook, Spring, 2006.
4. Jonathan Stern, 'The Russian Gas Balance to 2015: Difficult Year Ahead', in Simon Pirani ed. Russian and CIS Gas Markets and Their Impact on Europe, Oxford: OUP/OEIS, 2009
5. Data from BP Statistical Yearbook, online workbook, available at: www.bp. com.
6. 'Russia oil output falls for first time in a decade', Yahoo Finance. Com, 3 January 2009 /Available at: http://uk.biz.yahoo.com/03012009/325/ russia-oil-output-falls-first-time-decade.html. Accessed 24 April 2009. If one removes the additional production brought on-line by Sakhalin I, then domestic production actually stagnated in 2007.
7. Phillip Hanson, 'How Sustainable Is Russia's Energy Power? Russian Analytical Digest, 38 (8) : 8-10, 2008
8. Michael Ellman, ed., Russia's Oil and Natural Gas: Bonanza or Curse? London: Anthem Press, 2006.
9. Clifford G. Gaddy and Barry W. Ickes, 'Russia's Declining Oil Production: Managing Price Risk and Rent Addiction', Eurasian Geography and Economics, 50 (1) : 1-13, 2009
10. Clifford Gaddy and Barry Ickes, 2005, 'Resource Rents and the Russian Economy, Eurasian Geography and Economics, 46 (8) : 559-83.
11. This analysis and Figure 2 comes from Clifford Gaddy at the Brookings Institution in Washington DC and should not be reproduced without his permission (CGADDY@brookings.edu).
12. Yegor Gaidar, Collapse of an Empire: Lessons for Modern Russia, Washington DC: The Brookings Institution, 2007.
13. See Philip Hanson, 'The Resistible Rise of State Control in the Russian Oil and Gas Industry, ' Eurasian Geography and Economics, 50, No. 1, pp. 14-27, 2009
14. Marshall I. Goldman, 'The Russian power play on oil, natural gas reserves' The Boston Globe, 23 August 2008. Available at: http://www.boston. com/bostonglobe/editorial-opinion/oped/articles/2008/08/23/ the-russian-power-play-on-oil-natural-gas-reserves/. Accessed: 23 April 2009.
15. Hanson, 2009, p. 15.
16. See Harley Balzter, 'The Putin Thesis and Russian Energy Policy', Post-Soviet Affairs, 21 (3) : 210-225.
17. Ian Bremmer and Robert Johnston, The Rise and Fall of Resource Nationalism, Survival, 51 (2) : 149-158, 2009.
18. 'Who are the major players in the world oil market? EIA: Energy in Brief, updated 29 January 2009. Available at: http://tonto.eia.doe.gov/ energy-in-brief/world-oil-market.cfm. Accessed: 24 April 2009.
19. William Tompson, 'Back to the Future? Thoughts on the Political Economy of Expanding State Ownership in Russia, Paris: CERI, Sciences Po, Les Cahiers Russie, no. 6, 2008.
20. See Philip Hanson, 'Observations on the Cost of the Yukos Affair to Russia, Eurasian Geography and Economics, 47 (7) : 481-494.
21. See also, Hanson, 2009.
22. Julia Kusznir and Heiko Pleines, 'The Russian Oil Industry between Foreign Investment and Domestic Interests, ' in Russia's Energy Sector between Politics and Business, edited by Robert Orttung, Jeronim Perovic, Heiko Pleines and Hans-Henning Schroder, Bremen. Working Papers of the Research Centre for East European Studies, University of Bremen, No. 92, February 2008.
23. Nina Poussenkova, 'All Quiet on the Eastern Front' Russian Analytical Digest, 33 (8), 13-18.
24. I am grateful to Jonathan Stern for suggesting the need to see these issues from a Russian perspective. Western analysts are always likely to see FDI as necessary and private ownership more desirable than state control; neither view is predominant in Russia.
25. See Michael Bradshaw, The Greening of Global Project Finance: the Case of the Sakhalin II Oil and Gas Project', The Canadian Geographer, 51, 3, 255-279, 2007 for a full description of this campaign and the actions of the Russian Government. See also: Michael Bradshaw (2009) Editorial: The Sakhalin Saga, Energy Current, 28 January 2009. Available at: http:/ /www.energycurrent.com/index.php?id=2&storyid=15571. Accessed 24 April 2009.
26. See Ian Rutledge, The Sakhalin II PSA- A Production 'Non-Sharing' Agreement, Sheffield Energy and Resources Information Service, 2004.
27. See Jonathan Stern and Michael Bradshaw, 'Russian and Central Asian Gas Supply for Asia', in Jonathan Stern, ed. Natural Gas in Asia, Oxford: OUP/OEIS, 2008
28. World Bank, Russian Economic Report No. 18, World Bank Russia Country Office, Moscow, March, 2009.
29. Nadia Popova, 'Kelpach Says GDP Plunged by 9.5 percent', Moscow Times, 24 April, 2009.
30. Russian corporate debt down 30 billion in Q1, CNBC. Com, 7 April 2009. Available at: http://www.cnbc.com/id/30089563. Accessed 24 April 2009.
31. Gaddy and Ickes, 2009.
32. See Nina Poussenkova, 'Gazprom and Russia's Great Eastern Pipe-Dreams, ' Russian Analytical Digest, 58 (9), 2009.
33. 'Russian Oil has 'Peaked', Billionaire Vekselberg Says, Bloomberg.com. 23 April, 2008. Available at: http://www.bloomberg.com/apps /news?pid= 20601013&sid=abvPbR0TjuME&refer=emergingmarkets. Accessed 8 May 2009.