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2013 Russian Oil & Gas Outlook Survey

Deloitte CIS is pleased to present you, on behalf of the CIS Oil and Gas group, the findings from Deloitte's annual survey of oil and gas executives. As in previous years, we wanted to understand how they assess the interim performance of the sector as a whole and the current performances of individual companies, and find out their views on short term and long term business development prospects in 2013.

According to our respondents, 2012 was notable for greater activity in investments into current operations, innovative solutions and environmental programmes. 79% of survey respondents also reported an increased expenditure on capital projects, which is significant too.

Most of the respondents cited efficient asset management as a driver for sustaining and enhancing their competitive edge. Other drivers given include the implementation of new technologies, innovative solutions and performance management programmes, and the reduction of operating and administrative costs. Only 13% of oil and gas companies, however, mentioned risk management.

Optimising inventory and infrastructure costs and the use of energy-saving technologies are seen as the most popular ways to reduce costs. Although 10% of respondents are considering headcount optimisation, talent shortfall remains one of the key issues for 22%.

Given the favourable outlook for hydrocarbon demand both domestically and globally and the expected stability of oil prices in the upcoming year, most oil and gas companies still plan to increase their financing of core operations and are preparing to invest in the exploration, production, sale and distribution of hydrocarbons. As for the sources of financing, half of the respondents plan mainly to use third-party loans with only 21% saying they will raise funds internally.

Expert opinions on the above matters and many others can be found in the following pages.

We would like to especially thank all of our oil and gas professionals who shared their thoughts on the industry in this survey, and we wish our readers all the best for 2013!


Read Press Release "2013 Russian Oil & Gas Outlook Survey"

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