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Explainer: What do Russia’s oil giants own overseas?
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Tax policy will shape Russia’s oil future
The consensus among market observers is that the country’s oil output will fall in the long term. Yet few recognise how Moscow’s shifting tax regime is designed to keep the next barrel commercially viable
The curious case of oil-on-water
The market is facing being drowned in excess crude, but one caveat is that a large chunk is due to buyers reluctant to snap up sanctioned barrels
Lukoil loses its growth prospects
The Russian firm made a significant attempt to expand overseas over the past two decades but is now trying to divest its global operations
Explainer: How the EU will wean itself off Russian gas
Questions remain about how the phase-out will be implemented and enforced in practice
Arctic LNG comes in from the cold
Beijing now appears prepared to accept discounted Russian LNG, even at the cost of heightened sanctions risk
Russia’s fuel crisis: Difficult but not catastrophic
International and opposition media claim that two-fifths of the country’s refining capacity is offline, but the true situation is not so dire
Hungary defends Russian energy use
Claims the country lacks alternatives to Russian oil and gas may be exaggerated, although higher costs and reduced security of supply are legitimate concerns.
ExxonMobil’s Russian door remains ajar
While the US oil major has declined to return given the sensitivities over Ukraine, Sakhalin 1 and other energy projects are temptations that will not go away
Russia may defy production capacity doubters
The OPEC+ producer could bring significant idle barrels to the market in the next 12 months
Russia Kurdistan Turkey Rosneft
Patrick Osgood
Erbil
26 February 2019
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Russia aids Kurdistan gas boost

Strategic investments from Rosneft have unclogged Kurdistan's messy export scene, paving the way for supplies to Turkey in the early 2020s

Natural gas prospects for the Kurdistan Region of Iraq look better than they have for several years. Production is up, a new gas pipeline to Turkey is planned and the region's energy ministry claims it will start gas exports in 2020. The latter is the latest bold promise typical of KRI oil minister Ashti Hawrami, who has admittedly done a reasonable job of licking the KRI's independent oil sector into shape. But it is probably unrealistic, given it does not accord with development plans from the region's gas companies. Their main focus is connecting the KRI's main power plants to gas in a process expected to take the next three years to complete. But the KRI now looks set to become self-suff

Also in this section
Explainer: What do Russia’s oil giants own overseas?
4 December 2025
Time is running out for Lukoil and Rosneft to divest international assets that will be mostly rendered useless to them when the US sanctions deadline arrives in mid-December
Letter from Saudi Arabia: US-Saudi energy ties enter a new phase
Opinion
3 December 2025
Aramco’s pursuit of $30b in US gas partnerships marks a strategic pivot. The US gains capital and certainty; Saudi Arabia gains access, flexibility and a new export future
Letter from London: Oil’s golden triangle
Opinion
2 December 2025
The interplay between OPEC+, China and the US will define oil markets throughout 2026
Libya’s upstream caught between hope and caution
1 December 2025
The North African producer’s first bidding round in almost two decades is an important milestone but the recent extension suggests a degree of trepidation

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