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The former head of BP, Tony Hayward, the group said that the EU sanctions and the United States against the Russian oil market may hit the West itself and lead to supply disruptions and price increases. He stated this in an interview with Financial Times, until the publication publishes excerpts from the conversation.
Hayward said that cutting off the power industry of Russia from the capital markets, the EU and the United States are detrimental to long-term supplies. “He said that the shale boom in the United States, on the one hand, reduces the threat to the world’s oil supply, but it can lead to interruptions in the supply of oil” – recounts the publication the words of former top manager.
«World lulled by a false sense of security in the light of what is happening in the United States, “- he said, referring to the results of the shale boom, during which oil production in the United States increased by 60% since 2008. “When the United States reached a peak in production, where there will be new sources of energy?” – He asked.
According to him, oil production in the North Sea and Alaska falls. Against this background, it was possible to place a bet on oil production in Canada, Iraq and Russia. However, because of the sanctions the use of resources in the Russian Arctic and the development of the vast oil shale reserves in Siberia is under threat, according to Hayward.
On Friday, September 12, the EU and the United States introduced a new package of sanctions against Russia. At this time, the main blow was inflicted on the Russian fuel and energy sector. In the American sanctions lists were “Gazprom”, “Novatek”, “Rosneft” LUKOIL “Surgutneftegas” and “Gazprom Neft”. In total, almost 90% of the Russian oil sector, and almost all the gas production. These companies account for almost half of Russia’s budget and about 70% of domestic exports.
The sanctions prohibit the United States for supply to these companies technologies and equipment for “deep water, the Arctic shelf, or slate of projects with potential for oil production.” Also, they are much more difficult for access to finance. Earlier borrow and place securities on the American market for more than 90 days was only prohibited “Rosneft” and “Novatek”. Now they added “Gazprom Neft” and “Transneft” (LUKOIL, “Surgutneftegas” and “Gazprom” do not fall under these restrictions).
The new sanctions “will complicate Russia’s ability to develop a” border “or non-traditional, oil reserves, where Russian companies are heavily dependent on American and Western technology”, said Friday the United States Treasury Secretary Jack Lew. New sanctions may strike partnership agreements “Rosneft” and the American Exxon Mobil. Companies have a number of joint projects, in particular, on the development of the Russian Arctic shelf and the development of stranded Bazhenov Formation in Western Siberia – the largest deposits of oil shale in the world.
Tony Hayward served as CEO of the oil company BP from 2007 to 2010. After that, worked as a member of the Board of Directors of TNK-BP. Its way into the company started with a geologist (he of the Law Faculty of Geology at Aston University in Birmingham). Engaged in the search for oil deposits. Worked in the UK, France, China, Indonesia, Colombia and Venezuela.
Gregory Naberezhnye
September 15, 2014
RBC
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