Investment policy in the russian oil and gas complex: current state and long-term priorities?
https://doi.org/10.38050/2078-3809-2025-17-1-98-115
Abstract
In article are researched current trends and strategic prospects of investment policy as important state regulation instrument of Russian oil and gas complex, are assessed key indicators of investment in the fuel and energy sector. Are considered the issues of comprehensive implementation of the largest oil and gas projects, their financial support and development of energy infrastructure. Is scientifically justified the feasibility of developing unified methodic for ensuring access to budget financing for oil and gas projects, which is designed to provide additional added value to the final products. The adoption of state measures of stimulating character contributes to the emergence of new forms of interaction between the state and the oil and gas business within the framework of the created special economic zones. The accumulated investment experience, in particular the provision of state guarantees of the safety of investments for the development of industrial production, can be effectively applied in the national energy market. In the context of unprecedented external challenges, effective interaction between the state and oil and gas companies contributes to improving the efficiency of its functioning and ensuring the sustainability of the national economy.
About the Author
S. E. TrofimovRussian Federation
Sergey E. Trofimov, Candidate of Economic Sciences (PhD), professor
Moscow
References
1. Bashmakov I.A. Energetika mira: mify proshlogo i uroki budushchego. Voprosy ekonomiki. 2018. No. 4. P. 49–75 (In Russ.).
2. Dmitrievskiy A.N., Mastepanov A.M., Bushuev V.V. Resursno-innovatsionnaya strategiya razvitiya ekonomiki Rossii. Vestnik RAN. 2014. Vol. 84. No. 10. P. 867–873 (In Russ.).
3. Dmitrievskiy A.N., Eremin N.A. Sovremennaya NTR i smena paradigmy osvoeniya uglevodorodnykh resursov. Problemy ekonomiki i upravleniya neftegazovym kompleksom. 2015. No. 6. P. 10–16 (In Russ.).
4. Gelbreyt Dzh.K. Novoe industrial'noe obshchestvo. Izbrannoe. M.: Eksmo, 2008 (In Russ.).
5. Glazyev S.Yu. Ekonomika budushchego: est' li u Rossii shans? M.: Knizhnyy mir, 2017 (In Russ.).
6. Glazyev S.Yu. Ryvok v budushchee. Rossiya v novykh tekhnologicheskom i mirokhozyaystvennom ukladakh. M.: Knizhnyy mir, 2018 (In Russ.).
7. Gromov A.I. Klyuchevye drayvery, vyzovy i neopredelennosti razvitiya mirovogo neftyanogo rynka v blizhayshey i srednesrochnoy perspective. Energeticheskaya politika. 2016. No. 6. P. 56–63 (In Russ.).
8. Kontorovich A.E., Epov M.I., Eder L.V. Dolgosrochnye i srednesrochnye faktory i stsenarii razvitiya global'noy energeticheskoy sistemy v XXI veke. Geologiya i geofizika. 2014. No. 55 (5–6). P. 689–700 (In Russ.).
9. Lebedinskaya E.V. Rol' neftegazovykh fondov v Rossii. Voprosy ekonomiki. 2012. No. 3. P. 98–119 (In Russ.).
10. Makarov A.A., Mitrova T.A. Strategicheskie perspektivy razvitiya energeticheskogo kompleksa Rossii. Problemy prognozirovaniya. 2018. No. 5. P. 81–96 (In Russ.).
11. Milovidov K.N. Mirovye investitsii v neftegazovyy sektor apstrim. Problemy ekonomiki i upravleniya neftegazovym kompleksom. 2019. No. 2. P. 46–54 (In Russ.).
12. Mikhaylov A.Yu., Burakov D.V., Didenko V.Yu. Vzaimosvyaz' tsen na neft' i maroekonomicheskikh pokazateley v Rossii. Finansy: teoriya i praktika. 2019. No. 23 (2). P. 105–116. DOI: 10.26794/2587-5671-2019-23-2-105-116 (In Russ.).
13. Naryshkin S.E. Inostrannye investitsii i razvitie ekonomiki Rossii: Dis. … d-ra ekon. nauk: 08.00.05. SPb., 2010 (In Russ.).
14. Parmon V.N., Kryukov V.A., Suslov N.I., Churashev V.N. Energoresursy Sibiri – nauka i institutsional'nye innovatsii. Energeticheskaya politika. 2019. No. 1. P. 22–39 (In Russ.). Plakitkin Yu.A. Tsiklichnost' innovatsionno-tekhnologicheskikh protsessov v global'noy energetike, fraktaly tekhnologicheskogo vremeni i ikh primenenie pri prognozirovanii otrasley TEK mira i Rossii. M.: INEI RAN, 2014 (In Russ.).
15. Trofimov S.E. Prakticheskie voprosy realizatsii gosudarstvennoy neftegazovoy politiki. M.: INFRA-M, 2023 (In Russ.).
16. Trofimov S.E. Konkretno-nauchnye metody v teoreticheskom issledovanii gosudarstvennogo regulirovaniya neftegazovogo kompleksa. Filosofiya khozyaystva. 2024a. No. 6. P. 98–119. DOI: 10.5281/zenodo.14307850 (In Russ.).
17. Trofimov S.E. Metodologicheskie priemy pri provedenii nauchnogo issledovaniya gosudarstvennogo regulirovaniya neftegazovogo kompleksa. Filosofiya khozyaystva. 2024b. No. 4. P. 141– 158. DOI: 10.5281/zenodo.12188664 (In Russ.).
18. Zvyagintseva N.A. Razvitie sistemy regulirovaniya rynka tsennykh bumag Rossiyskoy Federatsii kak mekhanizma privlecheniya investitsiy: Dis. … d-ra ekon. nauk: 08.00.10. Irkutsk, 2015 (In Russ.).
19. BP Energy Outlook: 2020 edition. BP Global, 2020.
20. BP Statistical Review of World Energy 2021. 70th edition. BP Global, 2021.
21. Deffeyes K.S. Hubbert’s Peak: The Impending World Oil Shortage. Princeton: Princeton University Press, 2008.
22. Feldstein M. Inflation, Income Taxes and the Rate of Interest: A Theoretical Analysis // American Economic Review. 1976. No. 66 (5). P. 809–829.
23. IEA World Energy Investment 2018. IEA, 2018.
24. IEA World Energy Outlook 2021. IEA, 2021.
25. Kuznets S. Economic Growth of Nations: Total Output and Production Structure. Cambridge: Belknap Press of Harvard University Press, 1971.
26. Laffer A.B. An Equilibrium Rational Macroeconomic Framework. Economic Issues of the Eighties / N.M. Kamrany, R.H. Day (eds.). Baltimore: John Hopkins University Press, 1979. P. 44– 57.
27. Lukas R.E. Expectations and the Neutrality of Money. Journal of Economic Theory. 1972. No. 4 (2). P. 103–124.
28. Mankiw G.N., Romer D, Weil D.N. A Contribution to the Empirics of Economic Growth. The Quarterly Journal of Economics. 1992. No. 107 (2). P. 407–437.
29. Mundell R.A. Monetary Theory: Inflation, Interest and Growth in the World Economy. Pacific Palisades, California: Goodyear, 1971.
30. Muth J.F. Rational Expectations and the Theory of Price Movements. Econometrica. 1961. No. 29 (3). P. 315–335.
31. Romer P.M. Increasing Returns and Long-Run Growth. The Journal of Political Economy. 1986. No. 94 (5). P. 1002–1037.
32. Sargent T.J., Sims C.A. Business Cycle Modeling Without Pretending to Have Too Much a Priori Theory. New Methods of Business Cycle Research: Proceedings from a Conference / C.A. Sims (ed.). Minneapolis: Federal Reserve Bank of Minneapolis, 1977. P. 45–109.
33. Simon H.A. Rationality as Process and as Product of Thought. American Economic Review. 1978. No. 68 (2). P. 1–16.
34. Sims C.A. A Simple Model for Study of the Determination of the Price Level and the Interaction of Monetary and Fiscal Policy. Journal of Economic Theory. 1994. No. 4 (3). P. 381–399.
35. Steblyanskaya A.N., Ai Mingye, Efimova O.V., Kleiner G.B., Rybachuk M.A. Multi-capital approach for sustainable growth: experience from the oil and gas companies. Finance: Theory and Practice. 2022. No. 26 (4). P. 29–43. DOI: 10.26794/2587-5671-2022-26-4-29-43.
36. Stiglitz J.E. People, Power, and Profits: Progressive Capitalism for an Age of Discontent. New York: W.W. Norton and Company, 2019.
37. The Quantity Theory of Money: A Restatement. Studies in the Quantity Theory of Money / M. Friedman (ed.). Chicago: University of Chicago Press, 1956. P. 3–21.
38. Alifirova E. Investitsii v neftegazovye proekty v mire v 2022 g. vyrastut lish' na 4%. Neftegaz.ru: Available at: https://neftegaz.ru/news/finance/720480-investitsii-v-neftegazovye-proekty-vmire-v-2022-g-vyrastut-lish-na-4 (accessed: 14.09.2022) (In Russ.).
39. IHS Markit: Available at: https://ihsmarkit.com (accessed: 25.05.2023).
40. Oil and Gas Journal: Available at: https://www.ogj.com (accessed: 20.01.2023).
41. Oil Market Analytics. Rystad Energy: Available at: https:// www.rystadenergy.com/products/market-solutions/oil-market-analytics (accessed: 20.01.2023).
42. OPEC Annual Statistical Bulletin. Organization of the Petroleum Exporting Countries: Available at: https://www.opec.org/opec_web/en/publications/202.htm (accessed: 22.03.2023).
43. OPEC Monthly Oil Market Report. Organization of the Petroleum Exporting Countries: Available at: https://www.opec.org/opec_web/en/publications/338.htm (accessed: 22.03.2023).
44. Platts: Available at: http://www.platts.com (accessed: 20.01.2023).
Review
For citations:
Trofimov S.E. Investment policy in the russian oil and gas complex: current state and long-term priorities? Scientific Research of Faculty of Economics. Electronic Journal. 2025;17(1):98-115. (In Russ.) https://doi.org/10.38050/2078-3809-2025-17-1-98-115