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Russia’s Oil and Gas Sector in 2011

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Author Info

  • Yuri Bobylev

    (Gaidar Institute for Economic Policy)

  • Ilya Fedorov

    (Gaidar Institute for Economic Policy)

Abstract

Oil and gas production remain the core sector of Russia economy, which has a leading role in generating federal budget revenue and this country’s balance of trade. The factors that exerted the most significant influence on the development of the oil and gas sector of the Russian economy in 2011 were the situation on the world oil market; the situation on the European gas market; and the objective deterioration of the conditions for the extraction of oil and natural gas, which is associated with a declining production at the ‘old’ deposits and the considerably higher costs of the development of new ones, especially in unpopulated areas with no infrastructure.

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File URL: http://www.iep.ru/files/RePEc/gai/ppaper/43Bobylev.pdf
File Function: Revised version, 2012
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Bibliographic Info

Paper provided by Gaidar Institute for Economic Policy in its series Published Papers with number 43.

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Length: 7518 words
Date of creation: 2012
Date of revision: 2012
Publication status: Published in Russian Economy in 2011, Trends and Outlooks, issue 33
Handle: RePEc:gai:ppaper:43

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Keywords: Russian oil and gas sector; Russian economy;

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