Fitch Ratings international rating agency is pleased to invite you to its annual business breakfast for Russian oil & gas sector companies “Oil & Gas: Ready for Turbulence”.

Presentation topics will include

Oil and Gas – Global Picture:

· Saudi Arabia, Russia and the US – bringing it all together;

· LNG: surplus or deficit?

· Oil majors: dividends / deleveraging balancing act.

Russian Oil & Gas Update:

· Oil production records renewed

· What does the new OPEC+ mean for Russian upstream?

· Russian gas developments

· Outlook for Russian oil & gas upstream

· Evolution of upstream taxation

· Domestic fuel prices and refining sector: limited room for manoeuvre