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Russian Petroleum Companies During The Oil Glut

The ECOreport reposts an EIA analysis, Russian Petroleum Companies During The Oil Glut

Originally Published on the US Energy Information Administration

By Justine Barden

Russian federal revenue from oil and natural gas production has declined significantly in response to low oil prices. However, Russian oil and natural gas companies’ capital investment programs have been less affected, if at all. Russia’s two main hydrocarbon taxes are calculated by formulas that result in lower tax rates at lower crude oil prices. As oil prices fall, petroleum companies retain a larger share of revenue, but government revenues from oil and natural gas production fall even faster than prices.
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