Analytical Center experts prepared the Russian Fuel and Energy Sector 2017 data book

23 july 2018

In 2017, the world economic growth got a new impetus, reaching the best indicator for the period after 2011, experts say. Against this background, the Russian coal industry has demonstrated steady development: production, domestic consumption, exports and investment have grown. The output of oil and gas condensate in Russia has decreased for the first time since 2008. The growth in the output of petrochemical products in Russia continued, but the pace declined. Gas output in Russia has reached record levels in terms of growth in exports and domestic consumption. Electricity consumption has increased, but the growth rate was lower than in 2016.

In 2017, the output of oil and gas condensate in Russia decreased by 2.1 mln tons (-0.4%) as compared to the previous year. A slight decrease in oil output in Russia (the first time since 2008) is due to the country's participation in the OPEC+ deal. As a result of 2017, Russia has fulfilled its obligations to reduce the output under this deal by more than 100%.

According to preliminary data of the Russian Federal State Statistics Service, the volume of investments in the oil industry in 2017 exceeded the level of 2016 (+ RUB 348 bln). At the same time, the main increase in the investments accounted for the extraction of crude oil (+ RUB 279 bln). Such dynamics may result from the increased investments in projects for the development of new fields that will have a deferred effect, in the conditions of a forced investment "pause" for the current projects (fulfillment of obligations to reduce the oil output under the OPEC+ deal).

In 2017, gas production in Russia reached a record high in terms of export growth and domestic consumption. Russia continues to steadily keep lead in the global export of natural gas, although its share in 2014‑2016 fell below 20%.

The Russian coal industry demonstrated steady development in 2017: production, domestic consumption, exports and investment have grown. This is dominated by large coal mining and metallurgical holdings. In 2017, the top‑10 companies of the industry provided about 71% of the national production. Improvement of the financial and economic situation of Russian coal companies in 2017 allowed increasing investments in fixed assets by 32% — up to RUB 114.3 bln. The main areas of investments were the expansion of enriching facilities and modernization of the mining and transport equipment.

For more information see the Russian Fuel and Energy Sector 2017 data book.

The data books for previous periods can be found in Publications.