Outstanding quotes from SPIEF 2019: Forum participants on energy

The current perspectives for the formation of international energy markets are mainly due to the policy of decarbonization of world energy and the growth of energy consumption. Each country forms its energy policy based on its own fuel and energy potential and the situation on international energy markets. The global oil market is currently largely dependent on global processes with a high degree of ‘uncertainty" associated with the use of protectionist and political methods of struggle in the global world economy. «Trade wars», and sanctions increase the uncertainty of the market for the «global» energy resource — oil. The global market for «alternative» energy and technology in this area is much more defined and predictable. The introduction of «platform» economy methods in the energy sector, in combination with the macroregional form of organization of energy markets, will reduce uncertainty factors by avoiding protectionist methods, including sanctions methods, leaving them behind the «perimeter» of macroregional borders.

In this publication, the Institute of Natural Monopolies Research (IPEM) summarizes the performance of Russia’s manufacturing industries in April 2020. This month, IPEM registered a sharp drop in manufacturing which is the greatest on record since the 2008-2010 financial crisis.

Vice Chairman of IHS Markit Daniel Yergin is one of the most authoritative voices in the energy sector and a regular participant at the St. Petersburg International Economic Forum and other events hosted by the Roscongress Foundation. Excerpts from his appearances from 2016–2019 are provided below.

The article provides an overview of current trends in the global energy market with a focus on the oil industry based on recent analytical reports of international organizations, consulting firms and major market players, as well as the agenda of the St. Petersburg International Economic Forum 2019. On the basis of the analysis, conclusions are drawn about the impact of global trends on oil companies, including Russian, as well as possible response measures.