November 2020 | ISSUE No. 296| USRCC Business Newsletter
◾ USRCC Upcoming Events

Energy industry is facing multiple challenges from energy demand to decarbonization and the lowering of the investment interest. What energy companies are facing due to low energy prices and COVID-19? What are their strategies to prepare for the future? What steps governments are taking to support energy industry? C-level energy executives and government officials will address these and other current questions in a moderated webinar panel format.
Tuesday, November 17th, 2020 | 8:00 am– 10:00 am CST
Members – complimentary Non-members - $35
Simultaneous translation into Russian language is included.

Registration deadline: noon (CST) Monday, November 16th, 2020.
Webinar details will be provided upon registration.
Refunds will not be issued after November 13th, 2020.

CFO & Deputy Chairman 
of the Management Board,

To read the full bio click here.

Executive Vice President 
and Country Chair - Russia, 

To read the full bio click here.

President and CEO,
Parker Drilling Company

To read the full bio click here.

President and CEO, Flotek Industries
Former Chairman of Energy Technology at Tudor, Pickering, Holt & Company
Honorary Consul of Kazakhstan

To read the full bio click here.

Informational Partner
USRCC's Bilateral Trade Report
The U.S.-Russia
Bilateral Trade Report
is available here.
The Report includes statistics by years and states according to the United States Census Bureau for the years 2010-2019, as well as of exports and imports to Russia according to the United States Census Bureau for the January 2020-March 2020.
USRCC Membership
Are you taking advantage
of your USRCC Member Benefits?

The U.S.-Russia Chamber of Commerce provides a variety of Membership options to fit your business needs and goals. Renew your membership or join for the first time today!

For more information click here.
Member's News
Prime Minister of Iraq and Head of Lukoil Discussed the Prospects for Cooperation, November 2, 2020: Prime Minister of the Republic of Iraq Mustafa Al-Kadhimi and Iraqi Oil Minister Ihsan Abdul Jabbar Ismail received a delegation of PJSC LUKOIL headed by its President Vagit Alekperov today in Baghdad. The meeting was also attended by the Ambassador Extraordinary and Plenipotentiary of the Russian Federation to the Republic of Iraq Maxim Maximov. Read more...
Samotlorneftegaz Launches Unique Technology for Cleaning the Bottom of Water Bodies, November 2, 2020: Samotlorneftegaz, an enterprise of Rosneft’s oil production complex, together with the Institute for Biology of the Tomsk State University, has successfully launched the Air Probe (Aeroshchup) technology for cleaning hydrocarbons off the bottom of reservoirs through flotation and airlifting. The operating principle of the innovative complex is to lift hydrocarbon residues from bottom sediments using compressed air. This technique allows for rapid on-site diagnostics of the object with automated mapping of contaminated areas. Read more...
Gazprom Obtains Record-high Gas Inflow on Kara Sea Shelf, November 3, 2020: Another set of tests has been performed in the upper levels of the exploration well at the Leningradskoye field of the Yamal gas production center. Earlier, the well helped discover a new deposit in the lower levels. In the course of the exploration activities, commercial gas inflow of over 1 million cubic meters per day was obtained. This is a record-high figure for the fields located on the Arctic shelf of Russia, which proves that the productivity of the Leningradskoye field is much higher than anticipated. Read more...
◾ USRCC Business Community Outreach
◾ USRCC - IRS Informational Collaboration

Please register for the Webinar "Sale of Partnership Interest" here.
◾ USRCC Partners Events

Please register for the Webinar
"New Immigration Bans and Regulations Impacting Indian Nationals
and Business in Post-Election U.S." here.
This Week in Review
Moscow to Look into Prospects for Belarus to Buy Oil Field in Russia, November 5, 2020: Moscow will work out a possibility for Belarus to acquire an oil field in Russia but so far there are no specifics on this issue, Kremlin Spokesman Dmitry Peskov told reporters on Thursday. On November 4, Belarus’ President Alexander Lukashenko, in a telephone conversation with his Russian counterpart Vladimir Putin, voiced the initiative on the possible acquisition of an oil field by Minsk on the territory of the Russian Federation. Read more...
Tatneft Sees Capitalization Returning to Pre-crisis Level in 4 yrs, November 6, 2020: Russian oil company Tatneft expects that capitalization will return to the pre-crisis level in three to four years under a conservative scenario, company Aton said in a report after Tatneft's investor day late on Thursday. "Tatneft forecasts return of capitalization to the pre-crisis level in the timespan of three to four years, assuming a conservative scenario and oil prices at U.S. $40–50 per barrel," the company said. Read more...
Energy Minister Says Global Economic Recovery Difficult, November 3, 2020: Recovery of the global economy and oil demand is hard, but the recent lockdowns in Europe are softer than in March–May, Russian Energy Minister Alexander Novak said on Tuesday during the OPEC–Russia Energy Dialogue. “The current year has become a shock for the entire global economy in general and for the oil sector in particular. We see that recovery is problematic, we see many uncertainties that prevent a return to the pre-crisis indicators and global consumption of crude,” he said. Read more...
Kremlin Says Macroeconomic Environment in Russia Stable Despite Depreciation of Ruble, November 4, 2020: The Russian authorities are managing to minimize the volatility of the ruble exchange rate and to maintain macroeconomic stability, Kremlin spokesman Dmitry Peskov told reporters on Monday, TASS informed. “The ruble is breaching psychological thresholds, but volatility is minimized by the efforts of our regulator,” a Kremlin spokesman said, commenting on the depreciation of the ruble. Read more...
Russia Ambassador Hopes US-Russia Space Cooperation Will Help Resolve Global Challenges, November 3, 2020: The Russian ambassador to the United States, Anatoly Antonov, expressed hope for the two countries’ successful cooperation in space to help resolve global challenges. The ambassador recalled the pioneers of long-duration expeditions, Russian cosmonauts Yuri Gidzenko and Sergei Krikalev, as well as NASA astronaut William Shepherd, and wished the current, Expedition 64 crew consisting of Russian cosmonauts Sergey Kud-Sverchkov and Sergey Ryzhikov, as well as NASA astronaut Kate Rubins, a safe return to Earth. Read more...
Russian Markets Rally as Counting Continues in U.S. Presidential Election, November 5, 2020: The Russian stock market leapt higher Thursday as it picked up on a global equities rally, even as counting continues in the closer-than-expected U.S. presidential election. Stocks around the world rallied Wednesday, but the Russian market was closed for a public holiday, leaving it to hitch a ride higher when markets reopened Thursday morning. The MOEX Index jumped by more than 1.4% in the first minutes of trading — fully regaining territory lost at the end of last week in a mass sell-off. Read more...
Houston-Tyumen Sister Cities
Tyumen State University Offers Customized Programs to 8,000 Students, November 4, 2020: Vice-rector of Tyumen State University Taisiya Pogodaeva considers the innovative approach of her university to building customised educational programs for students reasonable: students have increased motivation in their studies. On Wednesday, speaking as part of the online discussion “Individualization in Education: Where to Start,” the vice-rector praised the results of the four-year university innovation in the teaching process. Read more...
CIS Business News
Kazakhstan To Tap Into Vast Potential In Developing Organic Agriculture, November 4, 2020: Kazakhstan has ample opportunities to develop the country’s own organic agriculture, said Kazakh Minister of Agriculture Saparkhan Omarov at the Nov. 3 virtual meeting of the 32nd session of the Food and Agriculture Organization’s (FAO’s) regional conference, the ministry’s press service reported. Read more...
Capital Investment in Belarus Projected at Br34bn in 2021, November 3, 2020: Capital investment in Belarus is projected at Br34 billion in 2021, Belarus' Prime Minister Roman Golovchenko said in an interview to Belarus 1 TV channel, BelTA has learned. The bulk, about Br24 billion, will be used to renew the key assets of companies. It fact, this means modernization, new technology and equipment. The rest will be injected in the construction of housing, social facilities and infrastructure. Read more...
Azerbaijan Boosts Electricity Production in Jan-Sep, November 5, 2020: Azerbaijan has increased electricity production by 52.8 percent during the period of January-September 2020, local media has reported. During the reporting period, the country produced 5.3 billion kW of electricity, which is by 52.8 percent more compared to the same period last year. Moreover, production in the sector of production, distribution and supply of electricity, gas and steam increased in Baku during the period of January-September 2020. Read more...
US-Russia Related News in Russia
◾ Новости недели
Россия Снизила Экспорт Нефти в Дальнее Зарубежье, Ноябрь 2, 2020: В 2020 году Россия снизила экспорт нефти в дальнее зарубежье. За 10 месяцев показатель опустился на 11,4% по сравнению с аналогичным периодом 2019 года. Среднесуточный экспорт составил 4,45 млн баррелей. Аналитиками учтена поправка на високосный год. Читать далее...
Минфин не Снижает Темпы Заимствований, Ноябрь 3, 2020: Минфин продолжил серию масштабных привлечений на рынке гособлигаций. На очередном аукционе были размещены ОФЗ на 428 млрд руб.— второй результат за всю историю. Министерство снова заплатило заметную премию банкам за участие в аукционе. До конца года формально по плану осталось привлечь менее 160 млрд руб., но резкого снижения темпов размещения на рынке не ждут, хотя и признают возможность снижения премии. Читать далее...
Эксперты Считают, что Российский Рынок Продолжит Рост в Ожидании Стабилизации в США, Ноябрь 5, 2020:  Перспективы наступления политической определенности в США, в том числе победы Джо Байдена, а также монетарные стимулы мировых центробанков подталкивают вверх активы новых рынков, а вслед за этим - ценные бумаги и валюту РФ. По оценкам опрошенных ТАСС экспертов, восстановление отечественного рынка должно продолжится и на следующей неделе - индекс Мосбиржи может достигнуть 3 000 пунктов, а рубль укрепится до 76 рублей за доллар. Читать далее...
Эксперты Предложили Повысить Налоги для Богатых Россиян, Ноябрь 6, 2020: Эксперты Высшей школы экономики предложили повысить налог на доходы физических лиц (НДФЛ) для состоятельных россиян, а также налог на прибыль компаний, — соответствующие предложения содержатся в отзыве ВШЭ на проект бюджета на 2021-2023 годы. Так, эксперты предлагают установить НДФЛ на уровне 20-24% для доходов свыше 12 и 24 миллионов рублей в год, а налог на прибыль — 24-30% с установлением эффективного инвестиционного вычета. Читать далее...
Александр Фридман Ушел из Правления НОВАТЭКа, Октябрь 28, 2020: Из правления НОВАТЭКа уходит проработавший в компании 17 лет Александр Фридман. Об этом говорится в поступившем в РБК сообщении компании по итогам заседания совета директоров. Фридман работал в газовой отрасли с 1973 года. С 1992 по 2003 год он был техническим директором, первым заместителем гендиректора совместного предприятия ПАО «Газпром» и венгерской компании DKG-EAST. Читать далее...

The USRCC is looking for new team members!

Volunteers play a key role and the contributions they make impact the day-to-day functions of the chamber and shape the future of the relationship between Russia and the U.S.

There are many ways you can get involved with the USRCC. Whether you are an experienced leader or a student, there is a place for you. By volunteering you can be at the very center of our high-profile events held in Houston, Chicago and New York City and interact with influential leaders in the U.S.-Russia trade and investment.
To learn more about the position 
or contact us directly at  
call 713.429.4680
 USRCC Executive Partners 
U.S.-Russia Chamber of Commerce
2900 Wilcrest Drive
Suite 133
Houston, TX 77042

The U.S.-Russia Chamber of Commerce (USRCC) is a 501(c)(6) not for profit corporation with its headquarters in Houston, Texas, and offices in the Midwest and the Northeast. The USRCC was established in 2009 to promote trade and investment between the Russian Federation and the U.S.A.  
The information contained in this newsletter is provided for general information purposes only and does not constitute legal or other professional advice on any subject matter. USRCC does not accept any responsibility for any loss that may arise from reliance on information contained in this newsletter. The views and opinions expressed in this publication are those of the authors. They do not reflect the opinions or views of the USRCC or its members. Links within this newsletter lead to other websites, including those operated and maintained by third parties. The linked sites are not part of the USRCC newsletter. USRCC includes these links solely as a convenience to the newsletter subscribers, and the presence of such links does not imply a responsibility for the linked site and its operator. USRCC cannot certify the accuracy of the material provided by the original source.

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