SCENARIOS FOR THE DEVELOPMENT OF THE RUSSIAN OIL INDUSTRY IN MODERN CONDITIONS

2020 ◽  
Vol 13 (2) ◽  
pp. 139-145
Author(s):  
D.F. Kudriakov ◽  
◽  
T.M. Mazurchuk ◽  
D.R. Grinchenko ◽  
◽  
...  
Keyword(s):  
Oil Industry ◽  
Scientific Work ◽  
Petroleum Products ◽  
Potential Contribution ◽  
Internal Factors ◽  
Oil Companies ◽  
Foreign Countries ◽  
Political Conditions ◽  
The Russian Federation ◽  
The Impact

In the scientific work, a study is carried out of possible scenarios for the development of the Russian oil industry in modern non-stationary economic and political conditions. The hydrocarbon market is undergoing significant changes, largely accompanied by sharp price fluctuations and an excess of supply over demand, so it is important to assess under what conditions the Russian oil industry will be able to maximize its benefits. The aim of the study is to build objective scenarios for the development of the Russian oil industry and its position in the global hydrocarbon market. It also assesses the potential contribution of the Russian Federation to the reduction of oil production in the framework of the renewed OPEC+ transaction involving new oil exporting countries, as well as the combined effect of the agreements affecting oil prices. For making objective forecasts, internal factors are taken into account, among which are: access to hard-to-recover reserves, discovery and development of new deposits, investments in intensification of production, as well as external factors: agreements to reduce production by exporting countries, the impact of the coronavirus pandemic (Covid-19) on the volume of sales of petroleum products, political and other economic conditions that have a direct impact on the global hydrocarbon market. The actual basis of the work is the forecasts of independent experts, analytical agencies, state statistical services, as well as reporting by oil companies in Russia and foreign countries.

OPPORTUNITIES FOR IMPLEMENTING LARGE STATE OIL PROJECTS UNDER VARIOUS SCENARIOS OF OIL PRICE CHANGES

2020 ◽  
Vol 13 (4) ◽  
pp. 207-215
Author(s):  
T.M. Mazurchuk ◽  
Keyword(s):  
Russian Federation ◽  
Oil And Gas ◽  
Oil Industry ◽  
Scientific Work ◽  
Scientific Basis ◽  
Oil Price ◽  
Oil Companies ◽  
Development Scenarios ◽  
The Russian Federation ◽  
State Projects

The scientific work studies the influence of the dynamics of prices for hydrocarbons on the possibilities of implementing state projects in the oil industry of Russia. Also, the economic efficiency of oil projects in the Russian Federation is assessed under various cost scenarios, both in the short and long term. The aim of the study, the authors set out to build an objective model for the implementation of Russian state projects in the oil industry, based on 3 scenarios of changes in hydrocarbon prices until 2023 according to: basic, optimistic and pessimistic forecasts. The paper studies the experience of creating large oil projects in modern Russia and in other countries; the authors pay special attention to oil projects during periods of turbulence in oil price quotations, during the economic recessions of 2008, 2014–2016 and 2020. The prospects for the completion of current projects in Russia are also being assessed in the face of oversupply on hydrocarbon markets and turbulent prices for well-known oil brands. The scientific basis of the work is Russian and foreign sources, assessments of experts from the oil and gas complex of Russia and countries-exporters of hydrocarbons, analytics and reports of oil companies, state programs for the development of the oil industry of the Russian Federation and statistical bases of state statistics services. To construct objective development scenarios, forecasts were used from sources such as: the Ministry of Energy of the Russian Federation, the Ministry of Economic Development, the Central Bank, the BP Statistical Database and the World Bank data, forecasts of large oil companies in Russia.

scholarly journals Venezuela's Nascent Oil Industry and the 1932 US Tariff on Crude Oil Imports, 1927–1935

2009 ◽  
Vol 27 (3) ◽  
pp. 427-462 ◽  
Author(s):  
Brian S. McBeth
Keyword(s):  
Crude Oil ◽  
Negative Impact ◽  
Oil Prices ◽  
Oil Industry ◽  
Petroleum Products ◽  
Initial Development ◽  
Oil Companies ◽  
Competitive Edge ◽  
Crude Oil Prices ◽  
The Impact

ABSTRACTAfter a brief description of the initial development of Venezuela's crude oil industry, this paper examines the impact the 1932 US tariff on crude oil imports had on the country. The US tariff on crude oil imports stabilised domestic crude oil prices but prevented consumers from benefting from lower prices in refned petroleum products. The large us international integrated crude oil companies gained from higher crude oil prices for their domestic production while supplying their european markets with mostly cheap crude oil from their newly developed Venezuelan oilfelds. The tariff increased the Venezuelan oil industry's vulnerability to international events because it narrowed the competitive edge it had over domestic us crude oil production. consequently, the Gómez dictatorship in Venezuela at the time became more dependent on the oil companies operating in the country since they could reduce production considerably, or even leave the country as quickly as they entered with a negative impact on government revenues.

scholarly journals TAX POLICY OF THE STATE IN THE OIL INDUSTRY AS AN INSTRUMENT OF ENSURING FINANCIAL SAFETY OF THE RUSSIAN FEDERATION IN THE PERIOD OF AN UNSTABLE ECONOMIC AND POLITICAL COUNTRY SITUATION

2017 ◽  
Vol 13 (1-2) ◽  
pp. 97-101
Author(s):  
Elena N Gorbunova
Keyword(s):  
Russian Federation ◽  
Tax Reform ◽  
Oil Industry ◽  
The State ◽  
Oil Companies ◽  
First Results ◽  
The Russian Federation ◽  
Ministry Of Finance ◽  
Oil Sector ◽  
Effective Result

Oil extraction taxation in our country was and remains a subject of special discussion. This article deals with actual problems of the taxation of the entities of an oil sector in the conditions of financial crisis, the sanctions imposed against Russia and the low prices of oil are considered. The object of research are topical issues of the taxation of the oil industry, in particular the mechanism of the taxation of the added income of the oil companies. The main options of tax mechanisms offered by the Ministry of Finance of the Russian Federation and the Ministry of Energy of the Russian Federation are considered and also opinions of heads of the largest oil companies of the Russian Federation of rather operating system of the taxation of the oil industry are analyzed. The special attention is paid to the analysis of the first results of the carried-out tax reform concerning entering of tax maneuver as one of the main mechanisms of financial safety of the state. The main conclusions of research is that receipt of effective result requires system work concerning reform of the taxation of the oil industry, a phased transition from tax maneuver to the taxation of the added income of the oil companies.

scholarly journals Foreign Experience of State Management of Raw Materials Industries and the Possibility of its Implementation in the Russian Federation in the Post-Covid Period

2021 ◽  
Vol 93 ◽  
pp. 05004
Author(s):  
Dmitry Rodnyansky ◽  
Ivan Makarov ◽  
Evgeniya Korotayeva ◽  
Vadim Kovrigin ◽  
Vladislav Nazarenko
Keyword(s):  
Climate Change ◽  
Raw Materials ◽  
Oil Industry ◽  
State Regulation ◽  
World Economic Forum ◽  
State Management ◽  
The World ◽  
World Economic ◽  
The Russian Federation ◽  
The Impact

In modern conditions, issues related to the effectiveness of the regulation of the oil industry by the state are becoming increasingly important. In January 2018, the World Economic Forum was held in Davos, which, in particular, noted the impact of the growth of protectionist trends in the global trade in hydrocarbons, and the impact of climate change on the planet on the export of hydrocarbons. As a result of the forum, the key ways of adjusting the policy of states in the relevant area were identified. At the same time, a significant number of states are already seeing the process of changing state regulation of the industry. In this article, the authors analyzed the systems of state regulation of the oil industry in different countries, and also gave assessments of the possibility of integrating new mechanisms into the system of sectoral management in Russia in the conditions of post-covid reality

The Assessment of Taxation Models in the Oil Sector of Russia and Foreign Countries

2015 ◽  
Vol 2015 (5) ◽  
pp. 22-45
Author(s):  
Alla Bobyleva ◽  
Elena Zhavoronkova ◽  
Olga Lvova
Keyword(s):  
Oil Industry ◽  
Tax Burden ◽  
Tax System ◽  
Oil Companies ◽  
Strategic Review ◽  
Foreign Countries ◽  
Tax Regimes ◽  
Oil Sector

The article focuses on the key parameters of the modern tax system in the oil industry of Russia and foreign countries, the tax burden of the largest Russian and foreign oil companies and their investment and financial opportunities resulting from different tax regimes, as well as recent changes in the economic and geopolitical conditions. On the basis of the research, the conclusion about the feasibility of the strategic review of the tax regime in the Russian oil industry is made and the main directions of its improvement are suggested.

scholarly journals The Effects of Antimonopoly Policy on Oil Products Markets in Russia

2020 ◽  
Vol 12 (2) ◽  
pp. 40-68
Author(s):  
A. Y. Stavniychuk
Keyword(s):  
Event Study ◽  
Negative Impact ◽  
Indirect Costs ◽  
Market Value ◽  
Oil Industry ◽  
Oil Products ◽  
Oil Companies ◽  
Event Study Method ◽  
Antitrust Laws ◽  
The Impact

The article estimates enforcement activities effects of the Federal Antimonopoly Service in oil products markets. The article analyzes the impact on petrol and diesel fuel markets of two types FAS Russia measures: measures related to the primary detection of antitrust laws violation signs, and measures applied when the violation fact has already been reliably established. The research point is based on the concerns about the negative impact on the companies of posting news of showing interest on the part of antimonopoly authorities with no evidence proving true law violation at the period of publication. To estimate effects on shares prices of large vertically integrated companies in the oil industry we used the event study method. The analysis sample included events that occurred with Russian oil companies from 2013 to 2019. The analysis showed that the effects based on the influence of detection signs of violation and establishing the violation fact of antitrust laws differ both in their intensity and in the direction of influence. It is also proved that the actions of antimonopoly authorities don’t create significant indirect costs of reducing the company's market value.

scholarly journals ORGANIZATION OF REFINED PRODUCTS SALES IN KAZAKHSTAN

THE BULLETIN ◽  
2021 ◽  
Vol 389 (1) ◽  
pp. 194-201
Author(s):  
S.B. Shoshanov ◽  
S. S. Makhanov ◽  
L. N. Salykova
Keyword(s):  
Petroleum Products ◽  
Optimal Choice ◽  
Multilevel Marketing ◽  
Domestic Markets ◽  
Oil Companies ◽  
Oil Markets ◽  
World Markets ◽  
The World ◽  
Sales Systems ◽  
The Impact

The article presents the main theoretical and methodological approaches to the sale of refined products. The views of scientists and economists on the sales of refined products and its categories are considered. Organization schemes of petroleum products sales on domestic and world markets, multilevel marketing system, routes of product movement (logistics chain of product movement) have been substantiated. The main documents (futures), risk insurance (hedging), planning the organization of sales of petroleum products, the impact of marketing programs on the choice of sales channel are considered. The article presents the formation of sales channels for petroleum products in vertically integrated oil companies. The tasks for timely provision of consumers with petroleum products have been clarified. The optimal choice of efficient schemes for cargo transportation of refined products, logistics schemes for their transportation and temporary storage, and rationality of transit forms of delivery of oil products to consumers are indicated. The main goals of achieving optimal sales systems for petroleum products by vertically integrated oil companies are revealed. The possibility of having special divisions for the sale and export of refined products by large oil companies is justified. The analysis of indicators of demand and supply of petrochemical products on the world markets with the author's positions on the current situation on the world oil markets in connection with the coronavirus pandemic. The analysis and assessment of production and consumption of basic petroleum products on the domestic markets of Kazakhstan is given. As a separate example, the analysis of diesel fuel consumption by regions and sectors of the national economy of Kazakhstan was carried out.

scholarly journals Classification of threats to the economic security of the oil industry development

2021 ◽  
pp. 148-157
Author(s):  
Andrey V. Lapin ◽  
Keyword(s):  
Sustainable Development ◽  
Oil Industry ◽  
Petroleum Products ◽  
Economic Security ◽  
Operating Conditions ◽  
Legal Analysis ◽  
Scientific Publications ◽  
The Sustainable Development ◽  
Oil Sector ◽  
The Impact

Subject/topic. The article is devoted to the methodology of ensuring the economic security of the oil industry and the sustainable development of the oil and petroleum products market. The subject of the study is the analysis of threats to the industry market and the grounds for their classification. Goals/objectives. Based on the analysis of threats to Russia's economic security in the oil sector, it is possible to identify existing approaches to their classification and justify the need for a systematic approach to the sustainable development of the oil industry, the oil and petroleum products market. Methodology. The methodological basis of the article consists of general scientific methods-synthesis, deduction. In the course of the study of threats to the development of the oil industry, event-based and economic-legal analysis, as well as expert, structural and statistical analysis were applied. Results. The article analyzes various conditions and factors that create the possibility of causing damage to the oil industry of the Russian Federation. Based on expert analysis, available strategic planning documents in the field of ensuring national, economic and energy security, macroeconomic data on the oil and petroleum products market and scientific publications in the field of development of the domestic oil industry, the author's proposals are presented, specifically recommendations for identifying and systematizing threats to the economic security of the oil industry and the sustainable development of the oil and petroleum products market in order to conduct a balanced state policy and implement national interests in relation to the oil industry. Conclusions/significance. The novelty consists in the formulation of the concepts of «threat», «challenge» and «risk» and their distinctive features; in identifying the grounds for classifying threats in the oil sphere of relations. As a result of the study, the grounds for classification were proposed according to the source of the impact, depending on the operating conditions of the oil sector, the nature of the threat, depending on the scope of their implementation, and the scale of the impact of the threats. Application. The results of the study can be applied in practical terms when making managerial decisions by officials of state authorities on the implementation of the state's economic policy for the sustainable development of the oil industry.

scholarly journals On the Improvement of the State Tax Policy in the Oil Sector in the Period of the New Coronavirus Infection (COVID-19) Spread

JURIST ◽  
2021 ◽  
Vol 2 ◽  
pp. 2-9
Author(s):  
Elena N. Gorbunova ◽  
Keyword(s):  
Tax Policy ◽  
Oil Prices ◽  
Oil Production ◽  
Oil Industry ◽  
State Tax ◽  
Coronavirus Infection ◽  
The Russian Federation ◽  
Oil Sector ◽  
The Impact ◽  
Financial Result

In the article, the author analyzed the situation in the oil industry in the conditions of low oil prices and the pandemic. COVID-19. The impact of the COVID-19 pandemic on the oil industry has been identified. The author developed a tax bill on financial results in oil production, as one of the ways to overcome the consequences of low oil prices and the pandemic of COVID-19. All the basic elements of tax on the financial result are discussed in detail. The author proposes ways to improve the state’s tax policy in the context of the spread of a new coronavirus infection (COVID-19), by introducing a bill in the form of a separate chapter of the Tax Code of the Russian Federation “Tax system in the form of a tax on financial result in oil production”.

scholarly journals The Impact of Sustainable Certification on Financial and Market Performance: Evidence from Indonesian Palm Oil Companies

2021 ◽  
Vol 16 (8) ◽  
pp. 1495-1500
Author(s):  
Arif Imam Suroso ◽  
Hansen Tandra ◽  
Indra Wahyudi
Keyword(s):  
Palm Oil ◽  
Social Deprivation ◽  
Social Issues ◽  
Market Performance ◽  
Oil Industry ◽  
Panel Regression ◽  
Oil Companies ◽  
Land Clearing ◽  
Negative Impacts ◽  
The Impact

The palm oil industry is a strategic sector that plays an important role for national economics. Although the palm oil industry's role and contribution are high, land clearing and operation are often associated with environmental and social issues. The sustainable certification was then developed to ensure that palm oil companies can continue to operate without involving environmental and social deprivation. The previous research related to the impact of a sustainable certification found several positive and negative impacts on palm oil companies' performance in general. Therefore, this study aimed to determine the impact of sustainable certification on Indonesia's palm oil companies' financial and market performance. This research focused on 14 palm oil companies in Indonesia that went public with an observation year between 2014 and 2019. Analysis through panel regression found that sustainable certification has no impact on Indonesia's palm oil companies' financial and market performance. The study could be a recommendation and justification for palm oil companies for consider to take a sustainable certification.

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