Assessment of the competitive environment and prospects for the development of the oil industry in Russia: current problems and possible solutions
Year: 2024
Type: article
Abstract: An analysis of works on the issues under study showed that the main provisions of the theory of the industry competitive environment have now been formed. But with all the variety of available material on the crude oil production market, insufficient attention is paid to the issues of improving an effective mechanism for regulating competition in the industry. Understanding competitive relations in the fuel and energy complex plays a special role. The Russian crude oil market is characterized by various operational problems that have a negative impact on the development and economic growth of the country, and the industry itself is characterized by a high concentration of vertically integrated oil companies (VIOCs) that manage the entire technological process, from drilling and well construction to sale of finished products to the final consumer. These companies have significant resources and technologies necessary for efficient oil production and refining, which allows them to occupy leading positions in their industry in an oligopolistic market. The authors of article considered features of competitive environment and prospects development of oil industries in Russia. Author’s position is based on the need of analysis competitive state of sphere, using indexes concentration, for more precisely understanding market structure. During the study, an analysis was carried out current problems oil and gas industry, for example technical backwardness and high dependence on export. Promising areas have been identified, including introduction of new technologies and digital solutions for improving efficiency of oil production and decreasing costs. It is concluded that future development of industry is needed in innovations and improving competitiveness on world market.
Source: Theoretical economics
Authors: Svetlana Varvus, Alena Efremova
Institution: Financial University
Language: English
Field: Social Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405740763